Pinnacle Associates Ltd. Buys 12,430 Shares of Ichor Holdings, Ltd. $ICHR

Pinnacle Associates Ltd. boosted its stake in shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,972 shares of the technology company’s stock after purchasing an additional 12,430 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Ichor were worth $6,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Ichor by 143.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 515,638 shares of the technology company’s stock valued at $10,127,000 after buying an additional 304,228 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Ichor by 231.3% in the second quarter. Ameriprise Financial Inc. now owns 393,371 shares of the technology company’s stock valued at $7,726,000 after acquiring an additional 274,633 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Ichor by 42.0% in the second quarter. Alliancebernstein L.P. now owns 796,891 shares of the technology company’s stock worth $15,651,000 after purchasing an additional 235,667 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Ichor by 47.6% in the second quarter. JPMorgan Chase & Co. now owns 699,511 shares of the technology company’s stock worth $13,738,000 after purchasing an additional 225,738 shares during the last quarter. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Ichor during the third quarter worth $3,877,000. 94.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ICHR. DA Davidson boosted their target price on Ichor from $30.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of Ichor in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ichor in a research report on Monday, December 29th. Needham & Company LLC lifted 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. Finally, Zacks Research raised shares of Ichor from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.57.

Insider Activity

In other Ichor news, CFO Greg Swyt sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $51.20, for a total transaction of $153,600.00. Following the completion of the transaction, the chief financial officer directly owned 78,679 shares of the company’s stock, valued at approximately $4,028,364.80. This trade represents a 3.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marc Haugen sold 19,875 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $49.71, for a total transaction of $987,986.25. Following the transaction, the director directly owned 26,085 shares of the company’s stock, valued at $1,296,685.35. This represents a 43.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 120,259 shares of company stock valued at $5,689,250. 1.90% of the stock is owned by insiders.

Ichor Stock Up 4.3%

Ichor stock opened at $41.73 on Tuesday. 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’s 50-day simple moving average is $35.35 and its two-hundred day simple moving average is $24.19. The company has a market cap of $1.45 billion, a PE ratio of -27.10 and a beta of 1.76. Ichor Holdings, Ltd. has a fifty-two week low of $13.12 and a fifty-two week high of $55.33.

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.