TD Cowen Cuts Ichor (NASDAQ:ICHR) Price Target to $38.00

Ichor (NASDAQ:ICHR) had its target price lowered by stock analysts at TD Cowen from $40.00 to $38.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the technology company’s stock. TD Cowen’s target price would indicate a potential upside of 18.94% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $38.00 price target (up from $36.00) on shares of Ichor in a report on Tuesday, November 5th. Needham & Company LLC lowered shares of Ichor from a “buy” rating to a “hold” rating in a research note on Monday. DA Davidson started coverage on shares of Ichor in a research report on Thursday, September 26th. They issued a “buy” rating and a $50.00 price objective for the company. Finally, Oppenheimer initiated coverage on Ichor in a research note on Wednesday, September 25th. They set a “market perform” rating and a $35.00 target price for the company. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.29.

Ichor Stock Performance

NASDAQ ICHR opened at $31.95 on Friday. The stock has a fifty day simple moving average of $32.24 and a 200-day simple moving average of $31.75. The stock has a market cap of $1.08 billion, a PE ratio of -34.35 and a beta of 1.92. Ichor has a twelve month low of $26.40 and a twelve month high of $46.43. The company has a current ratio of 3.64, a quick ratio of 1.69 and a debt-to-equity ratio of 0.18.

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

Institutional Trading of Ichor

Several institutional investors and hedge funds have recently made changes to their positions in ICHR. Renaissance Technologies LLC grew its holdings in shares of Ichor by 322.6% during the 2nd quarter. Renaissance Technologies LLC now owns 164,400 shares of the technology company’s stock worth $6,338,000 after purchasing an additional 125,500 shares during the period. Mutual of America Capital Management LLC grew its stake in Ichor by 131.1% during the second quarter. Mutual of America Capital Management LLC now owns 80,925 shares of the technology company’s stock worth $3,120,000 after buying an additional 45,902 shares during the period. Amalgamated Bank increased its position in shares of Ichor by 6.1% in the second quarter. Amalgamated Bank now owns 10,025 shares of the technology company’s stock worth $386,000 after acquiring an additional 577 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Ichor by 5.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 373,948 shares of the technology company’s stock valued at $14,416,000 after acquiring an additional 19,850 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Ichor during the 2nd quarter valued at $403,000. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

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.