Zacks Investment Research Upgrades Ichor (ICHR) to “Strong-Buy”
Ichor (NASDAQ:ICHR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $28.00 target price on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 8.49% from the company’s previous close.
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. “
Several other equities research analysts also recently issued reports on ICHR. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Ichor in a report on Tuesday, September 19th. Deutsche Bank restated a “buy” rating and issued a $32.00 price target (up from $26.00) on shares of Ichor in a report on Tuesday, October 10th. Cowen increased their price objective on Ichor from $27.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, October 18th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $37.00 price objective on shares of Ichor in a report on Friday, October 20th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $34.17.
Ichor (NASDAQ:ICHR) traded down $0.63 during midday trading on Wednesday, reaching $25.81. The company had a trading volume of 908,500 shares, compared to its average volume of 817,300. The company has a market capitalization of $669.15 and a P/E ratio of 6.17. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.34. Ichor has a fifty-two week low of $12.57 and a fifty-two week high of $35.51.
Ichor (NASDAQ:ICHR) last released its quarterly earnings data on Thursday, November 9th. The technology company reported $0.62 EPS for the quarter, meeting analysts’ consensus estimates of $0.62. The business had revenue of $164.50 million during the quarter, compared to the consensus estimate of $165.16 million. Ichor had a return on equity of 32.99% and a net margin of 7.43%. The company’s quarterly revenue was up 55.6% compared to the same quarter last year. equities research analysts predict that Ichor will post 2.4 EPS for the current year.
In related news, Director Iain Mackenzie sold 4,680 shares of the stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $27.11, for a total transaction of $126,874.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip Ryan Sr. Barros sold 35,650 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $26.37, for a total value of $940,090.50. Following the transaction, the insider now directly owns 32,090 shares of the company’s stock, valued at $846,213.30. The disclosure for this sale can be found here. Insiders have sold 211,984 shares of company stock valued at $5,862,666 over the last three months. Insiders own 5.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY lifted its position in shares of Ichor by 76.1% in the third quarter. Paradigm Capital Management Inc. NY now owns 1,596,100 shares of the technology company’s stock valued at $42,776,000 after buying an additional 689,500 shares during the last quarter. Neuberger Berman Group LLC lifted its position in shares of Ichor by 13.4% in the third quarter. Neuberger Berman Group LLC now owns 1,203,503 shares of the technology company’s stock valued at $32,254,000 after buying an additional 142,668 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Ichor by 262.9% in the second quarter. Ameriprise Financial Inc. now owns 943,466 shares of the technology company’s stock valued at $19,021,000 after buying an additional 683,466 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Ichor in the third quarter valued at approximately $15,509,000. Finally, Vanguard Group Inc. lifted its position in shares of Ichor by 182.9% in the second quarter. Vanguard Group Inc. now owns 481,158 shares of the technology company’s stock valued at $9,700,000 after buying an additional 311,083 shares during the last quarter. 75.43% of the stock is owned by institutional investors.
Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. The Company’s primary offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems, which are key elements of the process tools used in the manufacturing of semiconductor devices.
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