Ichor (NASDAQ:ICHR) Trading 7.5% Higher – Here’s What Happened

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) traded up 7.5% on Thursday . The stock traded as high as $49.88 and last traded at $50.3350. 319,523 shares changed hands during trading, a decline of 69% from the average session volume of 1,046,218 shares. The stock had previously closed at $46.81.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ICHR. B. Riley Financial raised shares of Ichor from a “neutral” rating to a “buy” rating in a report on Tuesday, February 10th. Needham & Company LLC lifted their price objective on shares of Ichor from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Oppenheimer increased their target price on shares of Ichor from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Tuesday, February 10th. Zacks Research upgraded shares of Ichor from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Finally, DA Davidson raised their price objective on shares of Ichor from $30.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

Ichor Trading Down 8.4%

The company has a fifty day simple moving average of $39.68 and a two-hundred day simple moving average of $25.83. The company has a market capitalization of $1.62 billion, a P/E ratio of -30.41 and a beta of 1.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.16 and a quick ratio of 1.38.

Insider Transactions at Ichor

In other Ichor news, Director Jorge Titinger sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $50.11, for a total transaction of $60,132.00. Following the completion of the sale, the director owned 13,969 shares of the company’s stock, valued at $699,986.59. This represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Bruce Ragsdale sold 21,276 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $49.66, for a total transaction of $1,056,566.16. Following the completion of the sale, the chief operating officer owned 97,661 shares of the company’s stock, valued at $4,849,845.26. The trade was a 17.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 120,259 shares of company stock worth $5,689,250. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ichor

A number of institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC acquired a new position in shares of Ichor during the 4th quarter worth about $26,000. Newbridge Financial Services Group Inc. bought a new position in Ichor in the 2nd quarter worth approximately $27,000. Hantz Financial Services Inc. lifted its holdings in shares of Ichor by 64.8% during the fourth quarter. Hantz Financial Services Inc. now owns 1,500 shares of the technology company’s stock worth $28,000 after buying an additional 590 shares during the last quarter. Danske Bank A S bought a new stake in shares of Ichor in the third quarter valued at approximately $28,000. Finally, State of Wyoming boosted its position in shares of Ichor by 607.7% in the fourth quarter. State of Wyoming now owns 3,234 shares of the technology company’s stock valued at $60,000 after acquiring an additional 2,777 shares during the period. 94.81% of the stock is currently owned by institutional investors.

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.