Ichor (NASDAQ:ICHR) Releases Quarterly Earnings Results

Ichor (NASDAQ:ICHR) announced its quarterly earnings data on Monday. The technology company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03, FiscalAI reports. The company had revenue of $294.78 million during the quarter, compared to the consensus estimate of $300.17 million. Ichor had a negative return on equity of 1.10% and a negative net margin of 5.28%.

Ichor Stock Up 6.6%

Ichor stock traded up $4.96 during mid-day trading on Monday, hitting $80.23. The company’s stock had a trading volume of 1,358,406 shares, compared to its average volume of 1,048,224. Ichor has a 52-week low of $13.12 and a 52-week high of $113.58. The company has a market cap of $2.80 billion, a PE ratio of -54.21 and a beta of 1.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.82 and a quick ratio of 1.21. The firm’s 50 day moving average is $85.48 and its 200 day moving average is $62.53.

Insider Activity at Ichor

In other news, Director Jorge Titinger sold 4,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $64.21, for a total value of $256,840.00. Following the completion of the sale, the director directly owned 12,318 shares of the company’s stock, valued at $790,938.78. This represents a 24.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Greg Swyt sold 19,662 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $70.42, for a total transaction of $1,384,598.04. Following the sale, the chief financial officer owned 60,971 shares of the company’s stock, valued at approximately $4,293,577.82. This represents a 24.38% 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. Over the last quarter, insiders have sold 79,447 shares of company stock worth $5,678,621. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Ichor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings 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 valued at $55,730,000 after buying an additional 1,770,425 shares during the last quarter. Millennium Management LLC increased its holdings in Ichor by 1,710.7% in the third quarter. Millennium Management LLC now owns 855,011 shares of the technology company’s stock worth $14,980,000 after buying an additional 807,792 shares during the last quarter. J. Goldman & Co LP bought a new position in Ichor during the fourth quarter valued at approximately $6,663,000. Heartland Advisors Inc. bought a new position in Ichor during the fourth quarter valued at approximately $5,529,000. Finally, Ameriprise Financial Inc. lifted its stake in Ichor by 231.3% in the second quarter. Ameriprise Financial Inc. now owns 393,371 shares of the technology company’s stock valued at $7,726,000 after acquiring an additional 274,633 shares during the last quarter. Hedge funds and other institutional investors own 94.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ICHR shares. Zacks Research lowered Ichor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. TD Cowen increased their price target on Ichor from $80.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Needham & Company LLC lifted their price target on Ichor from $48.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Stifel Nicolaus boosted their price objective on Ichor from $76.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ichor in a report on Wednesday, June 24th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ichor presently has an average rating of “Moderate Buy” and a consensus price target of $82.29.

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.