Ichor (NASDAQ:ICHR) Stock Price Target Cut by B. Riley Financial

Ichor (NASDAQ:ICHR) had its price objective reduced by equities research analysts at B. Riley Financial from $70.00 to $60.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. B. Riley Financial‘s price objective points to a potential upside of 80.91% from the stock’s current price.

A number of other research firms also recently issued reports on ICHR. Wall Street Zen upgraded shares of Ichor from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Stifel Nicolaus dropped their target price on Ichor from $115.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. UBS Group set a $82.00 price target on Ichor in a research report on Thursday, October 8th. Weiss Ratings raised Ichor from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Wednesday. Finally, TD Cowen decreased their price target on shares of Ichor from $100.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.78.

Ichor Stock Up 7.1%

Ichor stock opened at $33.16 on Monday. The company has a 50 day moving average of $50.58 and a 200-day moving average of $60.59. The company has a quick ratio of 1.89, a current ratio of 3.56 and a debt-to-equity ratio of 0.13. Ichor has a twelve month low of $14.07 and a twelve month high of $113.58. The stock has a market capitalization of $1.25 billion, a PE ratio of 662.43 and a beta of 1.88.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings data on Monday, November 2nd. The technology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.45 by $0.18. The business had revenue of $328.70 million for the quarter, compared to analysts’ expectations of $330.15 million. Ichor had a net margin of 0.32% and a return on equity of 3.54%. The firm’s revenue was up 37.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. On average, equities research analysts anticipate that Ichor will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling at Ichor

In related news, Director Iain MacKenzie sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $50.66, for a total transaction of $1,013,200.00. Following the completion of the sale, the director owned 102,427 shares in the company, valued at approximately $5,188,951.82. This represents a 16.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Barros, Jr. sold 1,314 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $61.88, for a total transaction of $81,310.32. Following the completion of the sale, the chief executive officer owned 161,562 shares of the company’s stock, valued at approximately $9,997,456.56. The trade was a 0.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 46,740 shares of company stock worth $2,602,960. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Ichor

A number of hedge funds have recently made changes to their positions in the business. Diversified Trust Co purchased a new position in Ichor in the third quarter valued at about $609,000. Allspring Global Investments Holdings LLC lifted its stake in Ichor by 38.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 17,197 shares of the technology company’s stock valued at $1,074,000 after purchasing an additional 4,761 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Ichor by 21.6% during the third quarter. Commonwealth Equity Services LLC now owns 4,732 shares of the technology company’s stock valued at $293,000 after purchasing an additional 840 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Ichor by 6.4% during the third quarter. Oregon Public Employees Retirement Fund now owns 8,367 shares of the technology company’s stock valued at $518,000 after purchasing an additional 500 shares during the period. Finally, Arlington Capital Management INC purchased a new stake in Ichor in the third quarter worth $2,741,000. 94.81% of the stock is currently owned by institutional investors.

Ichor Company Profile

Ichor Holdings, Ltd. (NASDAQ: ICHR) is a supplier to the semiconductor equipment industry. The company designs, engineers and manufactures critical fluid-delivery subsystems used in semiconductor fabrication equipment, including systems that deliver and control gases and chemicals during the wafer-manufacturing process.

Ichor’s products and services include gas and chemical delivery systems, precision-machined components, weldments, fluid-management assemblies and related engineering and manufacturing services.