Ichor (NASDAQ:ICHR) Stock Price Down 6.3% on Analyst Downgrade

Ichor Holdings, Ltd. (NASDAQ:ICHR) dropped 6.3% during trading on Friday after Oppenheimer lowered their price target on the stock from $35.00 to $25.00. Oppenheimer currently has a market perform rating on the stock. Ichor traded as low as $17.68 and last traded at $17.53. Approximately 16,966 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 303,744 shares. The stock had previously closed at $18.71.

Other research analysts have also issued research reports about the company. Needham & Company LLC restated a “hold” rating on shares of Ichor in a research report on Wednesday, February 5th. StockNews.com cut shares of Ichor from a “hold” rating to a “sell” rating in a report on Thursday. Finally, TD Cowen reduced their target price on shares of Ichor from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.86.

Insider Activity at Ichor

In other news, Director Jorge Titinger sold 3,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $32.04, for a total value of $96,120.00. Following the completion of the transaction, the director now directly owns 9,832 shares in the company, valued at $315,017.28. This trade represents a 23.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ichor

A number of institutional investors have recently added to or reduced their stakes in ICHR. Oberweis Asset Management Inc. acquired a new position in shares of Ichor during the 4th quarter valued at $10,884,000. Raymond James Financial Inc. acquired a new position in Ichor during the fourth quarter worth about $8,489,000. JPMorgan Chase & Co. raised its position in Ichor by 73.6% in the fourth quarter. JPMorgan Chase & Co. now owns 590,630 shares of the technology company’s stock worth $19,030,000 after acquiring an additional 250,383 shares in the last quarter. Royce & Associates LP lifted its holdings in Ichor by 20.2% in the 4th quarter. Royce & Associates LP now owns 864,245 shares of the technology company’s stock valued at $27,846,000 after acquiring an additional 145,278 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Ichor by 18.7% during the 4th quarter. Nuveen Asset Management LLC now owns 777,289 shares of the technology company’s stock valued at $25,044,000 after purchasing an additional 122,280 shares in the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.

Ichor Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 3.34. The company’s 50 day moving average price is $27.16 and its 200-day moving average price is $29.54. The company has a market cap of $590.73 million, a price-to-earnings ratio of -26.31 and a beta of 1.88.

Ichor (NASDAQ:ICHR) last issued its earnings results on Tuesday, February 4th. The technology company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). Ichor had a negative return on equity of 1.38% and a negative net margin of 2.45%. On average, equities research analysts forecast that Ichor Holdings, Ltd. will post 1.01 earnings per share for the current fiscal year.

About Ichor

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment in the United States and internationally. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices.