Ichor (NASDAQ:ICHR) Shares Gap Up Following Analyst Upgrade

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) gapped up before the market opened on Tuesday after Stifel Nicolaus upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $42.59, but opened at $45.15. Stifel Nicolaus now has a $55.00 price target on the stock, up from their previous price target of $30.00. Ichor shares last traded at $48.9850, with a volume of 333,441 shares traded.

ICHR has been the topic of several other reports. Craig Hallum restated a “buy” rating and set a $36.00 price target on shares of Ichor in a research report on Wednesday, January 14th. TD Cowen reaffirmed a “buy” rating on shares of Ichor in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ichor in a research note on Monday, December 29th. Oppenheimer lifted their price target on shares of Ichor from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Tuesday, February 10th. Finally, Needham & Company LLC upped their price objective on shares of Ichor from $36.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.14.

Insider Transactions at Ichor

In other news, CEO Philip Ryan Sr. Barros sold 21,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $46.63, for a total transaction of $979,230.00. Following the sale, the chief executive officer owned 153,936 shares in the company, valued at $7,178,035.68. This represents a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas M. Rohrs sold 53,908 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $45.48, for a total transaction of $2,451,735.84. Following the sale, the director directly owned 53,024 shares of the company’s stock, valued at $2,411,531.52. This trade represents a 50.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 120,259 shares of company stock valued at $5,689,250. 1.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ichor

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada raised its position in Ichor by 27.7% in the 1st quarter. Royal Bank of Canada now owns 9,891 shares of the technology company’s stock worth $224,000 after buying an additional 2,146 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ichor by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,645 shares of the technology company’s stock worth $444,000 after acquiring an additional 865 shares during the period. Jane Street Group LLC raised its holdings in shares of Ichor by 286.0% during the first quarter. Jane Street Group LLC now owns 53,277 shares of the technology company’s stock valued at $1,205,000 after purchasing an additional 39,476 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Ichor by 6.8% during the second quarter. Envestnet Asset Management Inc. now owns 20,442 shares of the technology company’s stock valued at $401,000 after purchasing an additional 1,305 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Ichor by 143.9% during the second quarter. Bank of New York Mellon Corp now owns 515,638 shares of the technology company’s stock valued at $10,127,000 after purchasing an additional 304,228 shares during the period. 94.81% of the stock is owned by hedge funds and other institutional investors.

Ichor Stock Up 15.6%

The company has a quick ratio of 1.38, a current ratio of 3.16 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.71 billion, a PE ratio of -31.88 and a beta of 1.76. The company’s fifty day moving average is $37.69 and its 200-day moving average is $25.07.

Ichor Company Profile

Ichor Holdings Ltd. is a global supplier of critical subsystems used in the fabrication of semiconductor devices. The company specializes in the design, engineering and manufacturing of gas delivery systems, vacuum pumps and abatement solutions that manage process gases and by-products in wafer-processing tools. Its modular subsystems are designed to integrate with lithography, etch, deposition and cleaning equipment, helping to ensure precise control of gas flow, pressure and purity throughout the chip-manufacturing cycle.

Founded in the mid-1980s and headquartered in Fremont, California, Ichor has expanded its footprint across Asia, Europe and North America.