Ichor (NASDAQ:ICHR) Cut to “Hold” at Zacks Investment Research


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Zacks Investment Research lowered shares of Ichor (NASDAQ:ICHR) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. Ichor Holdings, Ltd. is based in Fremont, United States. “

Other analysts also recently issued research reports about the company. Cowen raised Ichor from a market perform rating to an outperform rating and lifted their target price for the company from $40.00 to $46.00 in a research note on Friday, January 29th. Deutsche Bank Aktiengesellschaft lifted their target price on Ichor from $42.00 to $50.00 and gave the company a buy rating in a research note on Wednesday, February 3rd. Needham & Company LLC lifted their target price on Ichor from $44.00 to $46.00 and gave the company a buy rating in a research note on Wednesday, February 3rd. DA Davidson lifted their target price on Ichor from $39.00 to $43.00 in a research note on Wednesday, January 6th. Finally, B. Riley lifted their price objective on Ichor from $63.00 to $75.00 and gave the stock a buy rating in a research note on Monday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $46.00.

ICHR stock opened at $59.85 on Wednesday. Ichor has a twelve month low of $19.52 and a twelve month high of $63.42. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.68 billion, a P/E ratio of 47.88 and a beta of 2.33. The business’s 50-day moving average price is $47.56 and its 200-day moving average price is $35.18.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings data on Monday, February 1st. The technology company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.10. Ichor had a return on equity of 17.61% and a net margin of 3.34%. The firm had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $188.90 million. During the same period in the previous year, the firm earned $0.48 EPS. The business’s quarterly revenue was up 29.4% on a year-over-year basis. On average, equities research analysts expect that Ichor will post 2.01 earnings per share for the current fiscal year.

In related news, Director Thomas M. Rohrs sold 25,000 shares of the business’s stock in a transaction on Wednesday, February 10th. The stock was sold at an average price of $41.46, for a total transaction of $1,036,500.00. Following the completion of the transaction, the director now owns 149,595 shares in the company, valued at approximately $6,202,208.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kevin M. Canty sold 2,500 shares of the business’s stock in a transaction on Thursday, January 14th. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the chief operating officer now owns 57,435 shares of the company’s stock, valued at approximately $2,297,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,500 shares of company stock valued at $2,206,500. Company insiders own 3.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System purchased a new stake in shares of Ichor in the 4th quarter worth $201,000. ExodusPoint Capital Management LP purchased a new stake in shares of Ichor in the 4th quarter worth $202,000. AJ Wealth Strategies LLC purchased a new stake in shares of Ichor in the 4th quarter worth $246,000. Tudor Investment Corp Et Al purchased a new stake in shares of Ichor in the 4th quarter worth $293,000. Finally, Tompkins Financial Corp purchased a new stake in shares of Ichor in the 4th quarter worth $193,000. Institutional investors own 78.20% of the company’s stock.

Ichor Company Profile

Ichor Holdings Ltd. engages in designing, engineering, and manufacturing fluid delivery subsystems for semiconductor capital equipment. It offers gas and chemical delivery systems, which are key elements of the process tools used in the manufacturing of semiconductor devices. The firm also manufactures precision machined components, weldments, and proprietary products for use in fluid delivery systems for direct sales to its customers.

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