Ichor (NASDAQ:ICHR) Trading Down 5.6% – What’s Next?

Ichor Holdings, Ltd. (NASDAQ:ICHR) dropped 5.6% on Tuesday . The stock traded as low as $32.42 and last traded at $32.46. Approximately 54,921 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 301,387 shares. The stock had previously closed at $34.37.

Analyst Ratings Changes

ICHR has been the topic of several analyst reports. DA Davidson assumed coverage on Ichor in a report on Thursday, September 26th. They set a “buy” rating and a $50.00 target price on the stock. TD Cowen upped their target price on shares of Ichor from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. B. Riley reiterated a “buy” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Ichor in a report on Tuesday, November 5th. Needham & Company LLC dropped their target price on Ichor from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com raised Ichor from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.57.

Ichor Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 3.64 and a quick ratio of 1.69. The company has a fifty day moving average of $29.82 and a two-hundred day moving average of $33.16. The stock has a market capitalization of $1.10 billion, a P/E ratio of -36.96 and a beta of 1.91.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $211.14 million for the quarter, compared to analyst estimates of $203.24 million. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) EPS. On average, equities analysts anticipate that Ichor Holdings, Ltd. will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Ichor

A number of hedge funds and other institutional investors have recently bought and sold shares of ICHR. ProShare Advisors LLC acquired a new position in Ichor during the 1st quarter valued at approximately $225,000. Vanguard Group Inc. grew its position in Ichor by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 2,841,622 shares of the technology company’s stock worth $109,743,000 after purchasing an additional 176,970 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Ichor by 17.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,177 shares of the technology company’s stock valued at $316,000 after purchasing an additional 1,224 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in shares of Ichor during the first quarter valued at approximately $290,000. Finally, California State Teachers Retirement System boosted its position in shares of Ichor by 5.1% during the first quarter. California State Teachers Retirement System now owns 32,326 shares of the technology company’s stock worth $1,248,000 after buying an additional 1,572 shares during the period. 94.81% of the stock is currently owned by institutional investors and hedge funds.

About Ichor

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment in the United States and internationally. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices.