Ichor (NASDAQ:ICHR) Stock Gets Price Target Cut from TD Cowen

Ichor (NASDAQ:ICHR) had its target price lowered by TD Cowen from $100.00 to $55.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research firms have also weighed in on ICHR. DA Davidson upgraded shares of Ichor to a “strong-buy” rating in a research report on Monday, October 5th. Wall Street Zen upgraded shares of Ichor from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Needham & Company LLC decreased their target price on shares of Ichor from $88.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday. Freedom Broker initiated coverage on shares of Ichor in a research note on Friday, October 9th. They issued a “buy” rating and a $82.00 target price on the stock. Finally, B. Riley Financial lowered their target price on Ichor from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.89.

Ichor Trading Down 16.8%

Shares of ICHR opened at $28.03 on Tuesday. Ichor has a 52-week low of $14.06 and a 52-week high of $113.58. The company has a quick ratio of 2.07, a current ratio of 3.56 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average is $51.14 and its two-hundred day moving average is $60.58. The stock has a market cap of $1.05 billion, a PE ratio of 46.82 and a beta of 1.88.

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

Insider Activity

In other news, COO Bruce Ragsdale sold 10,587 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $51.93, for a total value of $549,782.91. Following the completion of the sale, the chief operating officer owned 92,324 shares of the company’s stock, valued at $4,794,385.32. This represents a 10.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Barros, Jr. sold 1,314 shares of Ichor stock in a transaction that occurred on Wednesday, August 19th. The shares were 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 in the company, valued at approximately $9,997,456.56. The trade was 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 valued at $2,602,960 over the last three months. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ICHR. Allspring Global Investments Holdings LLC lifted its position in Ichor by 38.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 17,197 shares of the technology company’s stock valued at $1,074,000 after buying an additional 4,761 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Ichor by 21.6% during the third quarter. Commonwealth Equity Services LLC now owns 4,732 shares of the technology company’s stock worth $293,000 after buying an additional 840 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Ichor by 6.4% during the third quarter. Oregon Public Employees Retirement Fund now owns 8,367 shares of the technology company’s stock valued at $518,000 after acquiring an additional 500 shares during the last quarter. Arlington Capital Management INC acquired a new stake in shares of Ichor during the third quarter valued at about $2,741,000. Finally, Trek Financial LLC purchased a new stake in shares of Ichor in the 3rd quarter valued at approximately $538,000. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

Ichor Company Profile

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.