Ichor (NASDAQ:ICHR) Shares Gap Up – Here’s Why

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) gapped up before the market opened on Monday . The stock had previously closed at $64.42, but opened at $68.11. Ichor shares last traded at $67.8240, with a volume of 370,839 shares trading hands.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen upgraded shares of Ichor from a “strong sell” rating to a “hold” rating in a research note on Sunday, February 15th. Needham & Company LLC upped their target price on shares of Ichor from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Stifel Nicolaus set a $76.00 target price on shares of Ichor in a report on Friday. Craig Hallum reissued a “buy” rating and set a $36.00 price target on shares of Ichor in a research report on Wednesday, January 14th. Finally, DA Davidson boosted their price target on shares of Ichor from $30.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.43.

Ichor Price Performance

The stock has a market cap of $2.31 billion, a P/E ratio of -43.12 and a beta of 1.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.38 and a current ratio of 3.16. The business has a 50 day simple moving average of $52.61 and a 200-day simple moving average of $33.91.

Insider Activity at Ichor

In related news, CEO Philip Ryan Sr. Barros sold 21,000 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $46.63, for a total transaction of $979,230.00. Following the completion of the transaction, the chief executive officer owned 153,936 shares in the company, valued at approximately $7,178,035.68. This represents a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc Haugen sold 19,875 shares of Ichor stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $49.71, for a total transaction of $987,986.25. Following the completion of the sale, the director directly owned 26,085 shares in the company, valued at approximately $1,296,685.35. This represents a 43.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 120,259 shares of company stock valued at $5,689,250 in the last 90 days. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ichor

Several institutional investors and hedge funds have recently bought and sold shares of ICHR. Royal Bank of Canada raised its stake in shares of Ichor by 27.7% in the first quarter. Royal Bank of Canada now owns 9,891 shares of the technology company’s stock valued at $224,000 after buying an additional 2,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ichor by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,645 shares of the technology company’s stock worth $444,000 after acquiring an additional 865 shares during the last quarter. Jane Street Group LLC raised its stake in Ichor by 286.0% in the 1st quarter. Jane Street Group LLC now owns 53,277 shares of the technology company’s stock valued at $1,205,000 after acquiring an additional 39,476 shares during the period. Gamco Investors INC. ET AL raised its stake in Ichor by 75.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 24,100 shares of the technology company’s stock valued at $473,000 after acquiring an additional 10,400 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Ichor by 243.1% during the second quarter. Federated Hermes Inc. now owns 107,629 shares of the technology company’s stock valued at $2,114,000 after purchasing an additional 76,257 shares during the last quarter. 94.81% of the stock is owned by institutional investors.

About Ichor

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.