Ichor (NASDAQ:ICHR) Price Target Raised to $48.00

Ichor (NASDAQ:ICHR) had its target price raised by stock analysts at Needham & Company LLC from $36.00 to $48.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s target price suggests a potential upside of 40.72% from the stock’s current price.

Several other equities analysts have also recently issued reports on ICHR. B. Riley Securities upgraded shares of Ichor from a “neutral” rating to a “buy” rating and upped their target price for the company from $30.00 to $52.00 in a research note on Tuesday. Wall Street Zen downgraded shares of Ichor from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Zacks Research upgraded shares of Ichor from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Oppenheimer downgraded shares of Ichor from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $30.00 to $32.00 in a research report on Tuesday, January 27th. Finally, B. Riley Financial upgraded Ichor from a “neutral” rating to a “buy” rating in a research note on Tuesday. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Ichor has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Ichor Stock Up 6.1%

Ichor stock opened at $34.11 on Tuesday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -28.42 and a beta of 1.88. The company has a current ratio of 3.08, a quick ratio of 1.33 and a debt-to-equity ratio of 0.17. Ichor has a 12 month low of $13.12 and a 12 month high of $35.56. The stock has a fifty day simple moving average of $23.70 and a two-hundred day simple moving average of $20.14.

Insider Transactions at Ichor

In related news, Director Iain Mackenzie acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average cost of $14.53 per share, for a total transaction of $145,300.00. Following the purchase, the director directly owned 130,011 shares of the company’s stock, valued at $1,889,059.83. This trade represents a 8.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. purchased a new position in shares of Ichor in the second quarter worth about $27,000. Hantz Financial Services Inc. raised its position in shares of Ichor by 64.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,500 shares of the technology company’s stock worth $28,000 after acquiring an additional 590 shares during the period. Danske Bank A S purchased a new position in Ichor during the third quarter worth approximately $28,000. Nisa Investment Advisors LLC grew its stake in Ichor by 1,060.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,753 shares of the technology company’s stock valued at $34,000 after acquiring an additional 1,602 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Ichor by 380.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the technology company’s stock valued at $71,000 after purchasing an additional 2,870 shares during the period. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Ichor Company Profile

Ichor Holdings Ltd. is a global supplier of critical subsystems used in the fabrication of semiconductor devices. The company specializes in the design, engineering and manufacturing of gas delivery systems, vacuum pumps and abatement solutions that manage process gases and by-products in wafer-processing tools. Its modular subsystems are designed to integrate with lithography, etch, deposition and cleaning equipment, helping to ensure precise control of gas flow, pressure and purity throughout the chip-manufacturing cycle.

Founded in the mid-1980s and headquartered in Fremont, California, Ichor has expanded its footprint across Asia, Europe and North America.