Ichor (NASDAQ:ICHR) Releases Earnings Results, Beats Expectations By $0.02 EPS

Ichor (NASDAQ:ICHR) announced its quarterly earnings results on Monday. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02, FiscalAI reports. The company had revenue of $256.07 million during the quarter, compared to analysts’ expectations of $251.32 million. Ichor had a negative return on equity of 1.28% and a negative net margin of 5.57%. Ichor updated its Q2 2026 guidance to 0.250-0.350 EPS.

Here are the key takeaways from Ichor’s conference call:

• Q1 results beat expectations with $256.1M revenue (up 15% sequentially), 12.8% gross margin, operating income more than tripling versus Q4, and EPS of $0.15 — management says this demonstrates strong earnings leverage early in a multi-year ramp.
• Management guided Q2 revenue to roughly $290M–$310M (midpoint implying ~17% sequential growth) and gross margin of 13%–14%, and reiterated expectations of ~100 bps of gross margin expansion per quarter through H2 2026.
• The company is executing a “Global Footprint Realignment” (moving manufacturing to Mexico and ramping Malaysia) to increase proprietary Ichor content in systems — targeting 35% Ichor-branded content by year-end and positioning flow-control qualifications for 2027 revenue.
• Ichor is investing in inventory and capacity (Q1 capex $7.1M, cash down to $89.1M, total debt $122M, net debt coverage 1.6), and says supply chain and labor remain the pacing constraints despite having brick-and-mortar capacity to scale materially if those constraints are addressed.

Ichor Stock Up 8.2%

ICHR stock traded up $5.30 during mid-day trading on Monday, hitting $69.72. 2,406,176 shares of the company were exchanged, compared to its average volume of 951,770. 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 firm has a market cap of $2.42 billion, a P/E ratio of -45.27 and a beta of 1.87. The firm’s 50 day simple moving average is $52.61 and its 200 day simple moving average is $33.91. Ichor has a 1-year low of $13.12 and a 1-year high of $72.87.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stifel Nicolaus set a $76.00 price target on Ichor in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ichor in a research note on Friday, March 27th. Oppenheimer upped their price target on Ichor from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Tuesday, February 10th. TD Cowen reissued a “buy” rating on shares of Ichor in a research note on Tuesday, February 10th. Finally, B. Riley Financial restated a “buy” rating on shares of Ichor in a report on Monday, April 20th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.43.

Insider Activity at Ichor

In other news, Director Thomas M. Rohrs sold 53,908 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $45.48, for a total transaction of $2,451,735.84. Following the completion of the transaction, the director directly owned 53,024 shares of the company’s stock, valued at $2,411,531.52. This trade represents a 50.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 120,259 shares of company stock worth $5,689,250. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ichor

Several hedge funds have recently made changes to their positions in the business. Invesco Ltd. grew its stake in shares of Ichor by 141.2% during the 4th quarter. Invesco Ltd. now owns 3,023,882 shares of the technology company’s stock worth $55,730,000 after acquiring an additional 1,770,425 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Ichor by 15.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,957,656 shares of the technology company’s stock worth $36,080,000 after acquiring an additional 259,417 shares in the last quarter. State Street Corp grew its stake in shares of Ichor by 0.9% in the fourth quarter. State Street Corp now owns 1,285,419 shares of the technology company’s stock valued at $23,690,000 after buying an additional 11,645 shares in the last quarter. Nuveen LLC grew its stake in shares of Ichor by 6.7% in the fourth quarter. Nuveen LLC now owns 1,137,451 shares of the technology company’s stock valued at $20,963,000 after buying an additional 71,238 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Ichor by 1,710.7% in the third quarter. Millennium Management LLC now owns 855,011 shares of the technology company’s stock valued at $14,980,000 after buying an additional 807,792 shares in the last quarter. 94.81% of the stock is owned by institutional investors.

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.