Ichor (NASDAQ:ICHR) Reaches New 12-Month High – Still a Buy?

Ichor Holdings, Ltd. (NASDAQ:ICHR) shares reached a new 52-week high on Wednesday . The company traded as high as $55.50 and last traded at $54.3650, with a volume of 183143 shares. The stock had previously closed at $48.85.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ICHR. B. Riley Financial raised Ichor from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 10th. TD Cowen reaffirmed a “buy” rating on shares of Ichor in a research note on Tuesday, February 10th. Craig Hallum reaffirmed a “buy” rating and set a $36.00 price target on shares of Ichor in a research note on Wednesday, January 14th. DA Davidson raised their price target on Ichor from $30.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Oppenheimer raised their price target on Ichor from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 10th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Ichor currently has a consensus rating of “Moderate Buy” and an average price target of $43.14.

Ichor Price Performance

The stock has a 50 day moving average of $43.96 and a two-hundred day moving average of $28.55. 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 capitalization of $1.86 billion, a P/E ratio of -34.62 and a beta of 1.67.

Insider Buying and Selling

In other news, Director Marc Haugen sold 19,875 shares of Ichor stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $49.71, for a total value of $987,986.25. Following the transaction, the director owned 26,085 shares of the company’s stock, valued at $1,296,685.35. This trade represents a 43.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas M. Rohrs sold 53,908 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $45.48, for a total transaction of $2,451,735.84. Following the completion of the sale, the director owned 53,024 shares of the company’s stock, valued at $2,411,531.52. The trade was a 50.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 120,259 shares of company stock valued at $5,689,250. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rice Hall James & Associates LLC acquired a new position in Ichor in the 3rd quarter valued at $3,877,000. Quantbot Technologies LP grew its stake in Ichor by 229.7% in the 3rd quarter. Quantbot Technologies LP now owns 107,999 shares of the technology company’s stock valued at $1,892,000 after buying an additional 75,240 shares during the last quarter. Harvey Partners LLC acquired a new position in Ichor in the 3rd quarter valued at $3,189,000. CenterBook Partners LP acquired a new position in Ichor in the 3rd quarter valued at $263,000. Finally, Cinctive Capital Management LP acquired a new stake in Ichor in the 3rd quarter valued at approximately $2,033,000. 94.81% of the stock is currently owned by institutional investors and hedge funds.

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.