Ichor (NASDAQ:ICHR) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Ichor (NASDAQ:ICHR) issued its quarterly earnings results on Monday. The technology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02, FiscalAI reports. The firm had revenue of $256.07 million during the quarter, compared to analysts’ expectations of $251.32 million. Ichor had a negative return on equity of 1.09% and a negative net margin of 5.28%.The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 earnings per share. Ichor updated its Q2 2026 guidance to 0.250-0.350 EPS.

Here are the key takeaways from Ichor’s conference call:

• Q1 results beat expectations with $256.1M revenue (up 15% sequentially), 12.8% gross margin, operating income more than tripling versus Q4, and EPS of $0.15 — management says this demonstrates strong earnings leverage early in a multi-year ramp.
• Management guided Q2 revenue to roughly $290M–$310M (midpoint implying ~17% sequential growth) and gross margin of 13%–14%, and reiterated expectations of ~100 bps of gross margin expansion per quarter through H2 2026.
• The company is executing a “Global Footprint Realignment” (moving manufacturing to Mexico and ramping Malaysia) to increase proprietary Ichor content in systems — targeting 35% Ichor-branded content by year-end and positioning flow-control qualifications for 2027 revenue.
• Ichor is investing in inventory and capacity (Q1 capex $7.1M, cash down to $89.1M, total debt $122M, net debt coverage 1.6), and says supply chain and labor remain the pacing constraints despite having brick-and-mortar capacity to scale materially if those constraints are addressed.

Ichor Stock Performance

Shares of NASDAQ ICHR opened at $67.77 on Wednesday. The company has a current ratio of 3.16, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.35 billion, a P/E ratio of -45.79 and a beta of 1.87. Ichor has a 12 month low of $13.12 and a 12 month high of $72.87. The stock has a 50 day moving average of $52.96 and a 200-day moving average of $34.23.

Key Stories Impacting Ichor

Here are the key news stories impacting Ichor this week:

• Positive Sentiment: Ichor beat Q1 expectations (EPS $0.15 vs. $0.13; revenue $256.1M vs. $251.3M) and raised Q2 guidance (EPS $0.25–0.35 vs. consensus ~$0.20; revenue $290–310M vs. consensus $267.4M), which supports the bullish case for growth and margin improvement. Ichor Q1 press release
• Positive Sentiment: TD Cowen raised its price target to $80 with a Buy rating (roughly +18% vs. current price), signaling confidence in upside from the beat and guidance. Benzinga
• Positive Sentiment: Needham & Company raised its target to $72 and kept a Buy rating, adding follow-through buy-side sentiment after the quarter. Benzinga The Fly
• Neutral Sentiment: Full earnings/call transcripts and coverage are available (InsiderMonkey, Seeking Alpha, The Motley Fool), useful if you want management commentary on backlog, OEM demand and margin drivers. InsiderMonkey transcript
• Negative Sentiment: Oppenheimer raised its target to $60 but left a Market Perform rating — that target sits below the current share price (implying ~11.5% downside), creating a mixed analyst signal that may pressure the stock. Benzinga
• Negative Sentiment: Some legacy financial metrics remain a concern to value-oriented investors (reported negative net margin and negative ROE in the latest summary), which may temper enthusiasm despite the operational beat. MarketBeat profile

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus set a $76.00 price objective on Ichor in a research note on Friday. DA Davidson boosted their target price on shares of Ichor from $30.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ichor in a research report on Friday, March 27th. B. Riley Financial reiterated a “buy” rating on shares of Ichor in a research note on Monday, April 20th. Finally, Craig Hallum reissued a “buy” rating and issued a $36.00 price objective on shares of Ichor in a research report on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.57.

Insiders Place Their Bets

In other Ichor news, Director Jorge Titinger sold 1,200 shares of the company’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $50.11, for a total value of $60,132.00. Following the transaction, the director directly owned 13,969 shares in the company, valued at $699,986.59. The trade was a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Philip Ryan Sr. Barros sold 21,000 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $46.63, for a total transaction of $979,230.00. Following the completion of the transaction, the chief executive officer directly owned 153,936 shares in the company, valued at $7,178,035.68. The trade was a 12.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 120,259 shares of company stock worth $5,689,250 in the last quarter. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Ichor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its holdings in Ichor by 141.2% in the 4th quarter. Invesco Ltd. now owns 3,023,882 shares of the technology company’s stock valued at $55,730,000 after acquiring an additional 1,770,425 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Ichor during the fourth quarter worth approximately $252,000. Voloridge Investment Management LLC acquired a new position in shares of Ichor in the fourth quarter valued at approximately $545,000. Tudor Investment Corp ET AL acquired a new position in shares of Ichor in the fourth quarter valued at approximately $636,000. Finally, Numerai GP LLC increased its stake in shares of Ichor by 28.4% during the fourth quarter. Numerai GP LLC now owns 36,227 shares of the technology company’s stock worth $668,000 after purchasing an additional 8,019 shares during the period. Institutional investors own 94.81% of the company’s stock.

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.