Ichor (NASDAQ:ICHR) PT Raised to $40.00 at B. Riley

Ichor (NASDAQ:ICHR) had its target price boosted by equities research analysts at B. Riley from $35.00 to $40.00 in a report released on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. B. Riley’s price target would suggest a potential upside of 27.51% from the stock’s current price.

Several other analysts also recently weighed in on ICHR. Needham & Company LLC lifted their target price on shares of Ichor to $36.00 and gave the company a “buy” rating in a report on Wednesday. ValuEngine downgraded shares of Ichor from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Deutsche Bank set a $32.00 target price on shares of Ichor and gave the company a “buy” rating in a report on Friday, November 1st. Cowen lifted their target price on shares of Ichor from $26.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, DA Davidson raised shares of Ichor from a “neutral” rating to a “buy” rating and raised their price target for the company from $25.00 to $34.00 in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Ichor presently has a consensus rating of “Buy” and a consensus price target of $32.86.

Ichor stock opened at $31.37 on Wednesday. Ichor has a fifty-two week low of $14.23 and a fifty-two week high of $32.55. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.29 and a current ratio of 2.29. The firm has a 50 day moving average price of $26.51 and a 200 day moving average price of $24.05. The company has a market capitalization of $705.68 million, a PE ratio of 11.24 and a beta of 2.82.

Ichor (NASDAQ:ICHR) last posted its earnings results on Tuesday, November 5th. The technology company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.08. Ichor had a net margin of 1.09% and a return on equity of 9.48%. The firm had revenue of $154.46 million during the quarter, compared to the consensus estimate of $149.96 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities research analysts forecast that Ichor will post 0.9 earnings per share for the current year.

In other Ichor news, CTO Philip Ryan Sr. Barros sold 15,338 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $23.18, for a total value of $355,534.84. Following the completion of the transaction, the chief technology officer now owns 56,475 shares of the company’s stock, valued at approximately $1,309,090.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

A number of hedge funds have recently modified their holdings of ICHR. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ichor by 81.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,995 shares of the technology company’s stock worth $48,000 after purchasing an additional 895 shares during the last quarter. Aperio Group LLC purchased a new stake in shares of Ichor during the 2nd quarter worth $98,000. Flinton Capital Management LLC lifted its position in shares of Ichor by 20.3% during the 2nd quarter. Flinton Capital Management LLC now owns 4,176 shares of the technology company’s stock worth $99,000 after purchasing an additional 704 shares during the last quarter. Riverhead Capital Management LLC lifted its position in shares of Ichor by 21.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,600 shares of the technology company’s stock worth $109,000 after purchasing an additional 800 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Ichor by 83.9% during the 2nd quarter. Bank of Montreal Can now owns 4,734 shares of the technology company’s stock worth $112,000 after purchasing an additional 2,160 shares during the last quarter. 87.28% of the stock is owned by institutional investors.

About Ichor

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment. It primarily offers gas and chemical delivery subsystems that are used in the manufacturing of semiconductor devices. The company's gas delivery subsystems deliver, monitor, and control gases used in semiconductor manufacturing processes, such as etch and deposition; and chemical delivery subsystems blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes comprising electroplating and cleaning.

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