Ichor (ICHR) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Ichor (NASDAQ:ICHR) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. Ichor Holdings, Ltd. is based in Fremont, United States. “

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ICHR has been the topic of a number of other research reports. Needham & Company LLC upgraded shares of Ichor from a buy rating to a strong-buy rating and set a $42.00 price target on the stock in a report on Tuesday, February 13th. ValuEngine raised shares of Ichor from a buy rating to a strong-buy rating in a research report on Friday, February 2nd. Stifel Nicolaus boosted their price objective on shares of Ichor from $36.00 to $37.00 and gave the company a buy rating in a research report on Thursday, February 8th. BidaskClub downgraded shares of Ichor from a hold rating to a sell rating in a research report on Saturday, February 10th. Finally, Cowen reaffirmed a buy rating on shares of Ichor in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Ichor has a consensus rating of Buy and a consensus target price of $38.33.

Shares of ICHR stock opened at $24.72 on Wednesday. Ichor has a 1-year low of $16.82 and a 1-year high of $35.51. The company has a current ratio of 1.89, a quick ratio of 0.84 and a debt-to-equity ratio of 0.83. The stock has a market cap of $702.84, a P/E ratio of 12.61 and a beta of 5.30.

Ichor (NASDAQ:ICHR) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.68 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.68. Ichor had a net margin of 7.83% and a return on equity of 33.93%. The business had revenue of $182.94 million for the quarter, compared to analyst estimates of $183.06 million. analysts forecast that Ichor will post 3.51 EPS for the current fiscal year.

In other Ichor news, CFO Jeff Andreson bought 4,800 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was bought at an average cost of $27.53 per share, with a total value of $132,144.00. Following the completion of the transaction, the chief financial officer now directly owns 4,800 shares of the company’s stock, valued at approximately $132,144. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Iain Mackenzie sold 4,690 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $26.10, for a total transaction of $122,409.00. Following the completion of the sale, the director now directly owns 4,690 shares of the company’s stock, valued at $122,409. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP bought a new stake in Ichor in the third quarter worth approximately $1,288,000. Stifel Financial Corp bought a new stake in Ichor in the third quarter worth approximately $639,000. State Street Corp grew its position in Ichor by 285.2% in the second quarter. State Street Corp now owns 172,972 shares of the technology company’s stock worth $3,485,000 after acquiring an additional 128,072 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in Ichor in the third quarter worth approximately $2,899,000. Finally, Capital Management Associates NY bought a new stake in Ichor in the fourth quarter worth approximately $320,000. 70.52% of the stock is owned by institutional investors.

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About Ichor

Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. The Company’s primary offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems, which are key elements of the process tools used in the manufacturing of semiconductor devices.

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