Cowen Reiterates “Outperform” Rating for Ichor (ICHR)

Cowen restated their outperform rating on shares of Ichor (NASDAQ:ICHR) in a research note published on Wednesday, Briefing.com Automated Import reports. They currently have a $26.00 price objective on the technology company’s stock, up from their previous price objective of $24.00.

Several other equities research analysts have also commented on ICHR. Zacks Investment Research raised shares of Ichor from a strong sell rating to a hold rating in a research note on Wednesday, January 9th. BidaskClub raised shares of Ichor from a hold rating to a buy rating in a research note on Saturday, February 2nd. Needham & Company LLC boosted their price objective on shares of Ichor to $27.00 and gave the stock a buy rating in a research note on Thursday, February 7th. ValuEngine raised shares of Ichor from a sell rating to a hold rating in a research note on Friday, February 8th. Finally, DA Davidson began coverage on shares of Ichor in a research note on Thursday, March 7th. They set a buy rating and a $30.00 price objective on the stock. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $27.43.

NASDAQ:ICHR traded up $0.55 during mid-day trading on Wednesday, hitting $23.56. 265,283 shares of the company’s stock were exchanged, compared to its average volume of 282,278. Ichor has a one year low of $14.23 and a one year high of $27.48. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.27 and a quick ratio of 1.03. The firm has a market capitalization of $514.95 million, a P/E ratio of 8.44 and a beta of 2.84.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.06). Ichor had a return on equity of 22.62% and a net margin of 6.07%. The business had revenue of $137.80 million for the quarter, compared to the consensus estimate of $135.39 million. During the same period in the previous year, the firm earned $1.03 EPS. The company’s revenue was down 46.6% on a year-over-year basis. On average, equities research analysts expect that Ichor will post 1.56 earnings per share for the current fiscal year.

In other news, COO Kevin M. Canty sold 1,750 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $21.89, for a total value of $38,307.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Philip Ryan Sr. Barros sold 28,457 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $21.57, for a total transaction of $613,817.49. Following the completion of the transaction, the chief technology officer now owns 33,062 shares in the company, valued at approximately $713,147.34. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System raised its holdings in shares of Ichor by 4.6% during the first quarter. New York State Teachers Retirement System now owns 12,424 shares of the technology company’s stock valued at $281,000 after purchasing an additional 541 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Ichor by 7.8% during the first quarter. Victory Capital Management Inc. now owns 9,629 shares of the technology company’s stock valued at $217,000 after purchasing an additional 695 shares during the last quarter. Sapphire Star Partners LP raised its holdings in shares of Ichor by 2.8% during the fourth quarter. Sapphire Star Partners LP now owns 25,916 shares of the technology company’s stock valued at $422,000 after purchasing an additional 718 shares during the last quarter. Globeflex Capital L P raised its holdings in shares of Ichor by 2.3% during the first quarter. Globeflex Capital L P now owns 57,863 shares of the technology company’s stock valued at $1,307,000 after purchasing an additional 1,307 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of Ichor by 4.7% during the first quarter. Whittier Trust Co. now owns 29,803 shares of the technology company’s stock valued at $673,000 after purchasing an additional 1,343 shares during the last quarter. Hedge funds and other institutional investors own 98.82% of the company’s stock.

About Ichor

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment. It primarily offers gas and chemical delivery subsystems that are used in the manufacturing of semiconductor devices. The company's gas delivery subsystems deliver, monitor, and control gases used in semiconductor manufacturing processes, such as etch and deposition; and chemical delivery subsystems blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes comprising electroplating and cleaning.

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Analyst Recommendations for Ichor (NASDAQ:ICHR)

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