Ichor (NASDAQ:ICHR) Trading Down 6.3% on Analyst Downgrade

Ichor Holdings, Ltd. (NASDAQ:ICHR) shares were down 6.3% during trading on Friday after Oppenheimer lowered their price target on the stock from $35.00 to $25.00. Oppenheimer currently has a market perform rating on the stock. Ichor traded as low as $17.68 and last traded at $17.53. Approximately 16,966 shares changed hands during trading, a decline of 94% from the average daily volume of 303,744 shares. The stock had previously closed at $18.71.

Several other equities analysts have also recently weighed in on ICHR. TD Cowen cut their price target on Ichor from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, January 17th. StockNews.com lowered shares of Ichor from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Ichor in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $40.86.

Insider Activity at Ichor

In related news, Director Jorge Titinger sold 3,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.04, for a total transaction of $96,120.00. Following the transaction, the director now directly owns 9,832 shares in the company, valued at approximately $315,017.28. This represents a 23.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in Ichor by 157.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 340,247 shares of the technology company’s stock valued at $10,823,000 after acquiring an additional 208,328 shares during the last quarter. State Street Corp grew its holdings in shares of Ichor by 1.8% in the third quarter. State Street Corp now owns 1,232,532 shares of the technology company’s stock worth $39,207,000 after purchasing an additional 21,804 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Ichor by 65.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 54,904 shares of the technology company’s stock worth $1,746,000 after buying an additional 21,810 shares during the period. Barclays PLC lifted its holdings in Ichor by 377.6% during the 3rd quarter. Barclays PLC now owns 56,787 shares of the technology company’s stock valued at $1,808,000 after buying an additional 44,897 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its position in Ichor by 52.0% in the 4th quarter. Hodges Capital Management Inc. now owns 217,125 shares of the technology company’s stock valued at $6,996,000 after buying an additional 74,255 shares during the period. Institutional investors own 94.81% of the company’s stock.

Ichor Price Performance

The firm has a market capitalization of $587.77 million, a P/E ratio of -26.51 and a beta of 1.88. The stock’s 50 day simple moving average is $26.94 and its 200 day simple moving average is $29.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 3.34.

Ichor (NASDAQ:ICHR) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.14). Ichor had a negative return on equity of 1.38% and a negative net margin of 2.45%. As a group, analysts expect that Ichor Holdings, Ltd. will post 1.01 earnings per share for the current fiscal year.

Ichor Company Profile

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment in the United States and internationally. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices.