Ichor (NASDAQ:ICHR) Stock Jumps 10% – Here’s What Happened

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) rose 10% during trading on Friday. The stock traded as high as $31.80 and last traded at $30.8260. Approximately 134,552 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 987,417 shares. The stock had previously closed at $28.03.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ICHR. DA Davidson raised shares of Ichor to a “strong-buy” rating in a research report on Monday, October 5th. B. Riley Financial cut their price objective on shares of Ichor from $85.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday. Zacks Research lowered shares of Ichor from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Freedom Broker initiated coverage on shares of Ichor in a report on Friday, October 9th. They set a “buy” rating and a $82.00 target price on the stock. Finally, UBS Group set a $82.00 target price on shares of Ichor in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.89.

Ichor Price Performance

The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 616.44 and a beta of 1.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.07 and a current ratio of 3.56. The company has a fifty day simple moving average of $51.14 and a two-hundred day simple moving average of $60.58.

Ichor (NASDAQ:ICHR) last released its earnings results on Monday, November 2nd. The technology company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.18. The firm had revenue of $328.70 million during the quarter, compared to the consensus estimate of $330.15 million. Ichor had a return on equity of 3.54% and a net margin of 0.32%. The company’s revenue was up 37.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. As a group, equities research analysts expect that Ichor Holdings, Ltd. will post 1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Greg Swyt sold 2,068 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $58.02, for a total value of $119,985.36. Following the completion of the transaction, the chief financial officer owned 47,832 shares of the company’s stock, valued at $2,775,212.64. The trade was a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Barros, Jr. sold 1,314 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $61.88, for a total transaction of $81,310.32. Following the sale, the chief executive officer directly owned 161,562 shares of the company’s stock, valued at $9,997,456.56. This represents a 0.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 46,740 shares of company stock worth $2,602,960 in the last ninety days. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ichor

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of Ichor by 100.0% during the 2nd quarter. Versant Capital Management Inc now owns 252 shares of the technology company’s stock worth $28,000 after acquiring an additional 126 shares during the period. Signaturefd LLC boosted its position in shares of Ichor by 127.7% during the 3rd quarter. Signaturefd LLC now owns 542 shares of the technology company’s stock worth $34,000 after acquiring an additional 304 shares in the last quarter. KBC Group NV acquired a new stake in shares of Ichor during the 1st quarter worth approximately $44,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Ichor during the 2nd quarter worth approximately $45,000. Finally, Allworth Financial LP increased its stake in Ichor by 125.1% in the second quarter. Allworth Financial LP now owns 421 shares of the technology company’s stock valued at $47,000 after acquiring an additional 234 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.

About Ichor

Ichor Holdings, Ltd. (NASDAQ: ICHR) is a supplier to the semiconductor equipment industry. The company designs, engineers and manufactures critical fluid-delivery subsystems used in semiconductor fabrication equipment, including systems that deliver and control gases and chemicals during the wafer-manufacturing process.

Ichor’s products and services include gas and chemical delivery systems, precision-machined components, weldments, fluid-management assemblies and related engineering and manufacturing services.