Ichor (NASDAQ:ICHR) Stock Gets Price Target Trim from B. Riley Financial

Ichor (NASDAQ:ICHR) had its price objective cut by B. Riley Financial from $85.00 to $70.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other research firms have also commented on ICHR. Wall Street Zen raised shares of Ichor from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ichor in a research note on Monday, September 21st. Zacks Research downgraded shares of Ichor from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. UBS Group set a $82.00 target price on shares of Ichor in a research report on Thursday, October 8th. Finally, Freedom Broker started coverage on shares of Ichor in a report on Friday, October 9th. They set a “buy” rating and a $82.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.89.

Ichor Price Performance

NASDAQ ICHR opened at $28.03 on Tuesday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 46.82 and a beta of 1.88. Ichor has a 1-year low of $14.06 and a 1-year high of $113.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.56 and a quick ratio of 2.07. The business’s fifty day moving average price is $51.14 and its 200-day moving average price is $60.58.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.45 by $0.18. The company had revenue of $328.70 million during the quarter, compared to analyst estimates of $330.15 million. Ichor had a return on equity of 3.54% and a net margin of 0.32%. Ichor’s revenue was up 37.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, equities analysts predict that Ichor will post 1.13 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Iain MacKenzie sold 20,000 shares of Ichor stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $50.66, for a total transaction of $1,013,200.00. Following the transaction, the director directly owned 102,427 shares of the company’s stock, valued at $5,188,951.82. The trade was a 16.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Bruce Ragsdale sold 10,587 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $51.93, for a total value of $549,782.91. Following the transaction, the chief operating officer owned 92,324 shares of the company’s stock, valued at approximately $4,794,385.32. This trade represents a 10.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 46,740 shares of company stock valued at $2,602,960 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Ichor

Institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in Ichor by 38.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,197 shares of the technology company’s stock valued at $1,074,000 after buying an additional 4,761 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Ichor by 21.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,732 shares of the technology company’s stock worth $293,000 after acquiring an additional 840 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Ichor by 6.4% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 8,367 shares of the technology company’s stock worth $518,000 after acquiring an additional 500 shares during the last quarter. Arlington Capital Management INC purchased a new stake in shares of Ichor during the 3rd quarter worth approximately $2,741,000. Finally, Trek Financial LLC bought a new position in shares of Ichor during the 3rd quarter valued at approximately $538,000. 94.81% of the stock is currently owned by institutional investors.

About Ichor

Ichor Holdings, Ltd. (NASDAQ: ICHR) is a supplier to the semiconductor equipment industry. The company designs, engineers and manufactures critical fluid-delivery subsystems used in semiconductor fabrication equipment, including systems that deliver and control gases and chemicals during the wafer-manufacturing process.

Ichor’s products and services include gas and chemical delivery systems, precision-machined components, weldments, fluid-management assemblies and related engineering and manufacturing services.