Lombard Odier Asset Management Europe Ltd Buys Shares of 57,584 Ichor Holdings, Ltd. $ICHR

Lombard Odier Asset Management Europe Ltd purchased a new position in Ichor Holdings, Ltd. (NASDAQ:ICHR) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 57,584 shares of the technology company’s stock, valued at approximately $2,684,000. Lombard Odier Asset Management Europe Ltd owned 0.17% of Ichor at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. boosted its stake in Ichor by 141.2% in the 4th quarter. Invesco Ltd. now owns 3,023,882 shares of the technology company’s stock worth $55,730,000 after purchasing an additional 1,770,425 shares during the period. Millennium Management LLC increased its position in shares of Ichor by 1,710.7% during the third quarter. Millennium Management LLC now owns 855,011 shares of the technology company’s stock valued at $14,980,000 after buying an additional 807,792 shares during the period. Royce & Associates LP increased its position in shares of Ichor by 48.5% during the fourth quarter. Royce & Associates LP now owns 1,449,082 shares of the technology company’s stock valued at $26,707,000 after buying an additional 473,440 shares during the period. J. Goldman & Co LP purchased a new stake in shares of Ichor in the fourth quarter worth about $6,663,000. Finally, Heartland Advisors Inc. purchased a new stake in shares of Ichor in the fourth quarter worth about $5,529,000. 94.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Philip Ryan Sr. Barros sold 13,705 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $70.19, for a total value of $961,953.95. Following the completion of the transaction, the chief executive officer directly owned 165,078 shares in the company, valued at approximately $11,586,824.82. This represents a 7.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Laura A. Black sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $75.02, for a total value of $1,500,400.00. Following the completion of the sale, the director owned 20,462 shares of the company’s stock, valued at $1,535,059.24. The trade was a 49.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 79,447 shares of company stock valued at $5,678,621. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ICHR shares. B. Riley Financial boosted their price objective on shares of Ichor from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Needham & Company LLC raised their price target on shares of Ichor from $48.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Zacks Research lowered shares of Ichor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. TD Cowen upped their price target on shares of Ichor from $80.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Stifel Nicolaus increased their price objective on Ichor from $76.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Six investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.29.

Ichor Price Performance

Shares of NASDAQ:ICHR opened at $75.27 on Monday. The company’s fifty day moving average price is $85.48 and its 200-day moving average price is $62.53. 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 has a market capitalization of $2.62 billion, a price-to-earnings ratio of -50.86 and a beta of 1.82. Ichor Holdings, Ltd. has a one year low of $13.12 and a one year high of $113.58.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings data on Monday, May 4th. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Ichor had a negative net margin of 5.28% and a negative return on equity of 1.10%. The company had revenue of $256.07 million during the quarter, compared to the consensus estimate of $251.32 million. During the same period in the previous year, the firm posted $0.12 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Ichor Holdings, Ltd. will post 0.97 earnings per share for the current fiscal year.

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.