Ichor (NASDAQ:ICHR) Cut to “Hold” at Needham & Company LLC

Needham & Company LLC lowered shares of Ichor (NASDAQ:ICHR) from a buy rating to a hold rating in a research note released on Monday morning, MarketBeat Ratings reports.

Several other equities research analysts have also commented on the company. Oppenheimer started coverage on Ichor in a research note on Wednesday, September 25th. They set a “market perform” rating and a $35.00 price target for the company. B. Riley reissued a “buy” rating and set a $38.00 price target (up previously from $36.00) on shares of Ichor in a research report on Tuesday, November 5th. TD Cowen upped their price objective on Ichor from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, DA Davidson initiated coverage on shares of Ichor in a research report on Thursday, September 26th. They issued a “buy” rating and a $50.00 price target on the stock. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.57.

Ichor Stock Performance

NASDAQ:ICHR opened at $30.62 on Monday. Ichor has a fifty-two week low of $26.40 and a fifty-two week high of $46.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.69 and a current ratio of 3.64. The company has a 50 day moving average price of $32.28 and a 200 day moving average price of $31.75. The stock has a market capitalization of $1.03 billion, a P/E ratio of -32.92 and a beta of 1.92.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.14%. The company had revenue of $211.14 million for the quarter, compared to analyst estimates of $203.24 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Equities research analysts forecast that Ichor will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Ichor

A number of institutional investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of Ichor by 99.5% during the second quarter. Quarry LP now owns 868 shares of the technology company’s stock worth $33,000 after purchasing an additional 433 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Ichor by 6.1% in the second quarter. Amalgamated Bank now owns 10,025 shares of the technology company’s stock valued at $386,000 after purchasing an additional 577 shares during the last quarter. GAMMA Investing LLC raised its holdings in Ichor by 136.2% during the third quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock worth $34,000 after acquiring an additional 625 shares in the last quarter. Signaturefd LLC raised its position in Ichor by 214.6% during the third quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock worth $40,000 after acquiring an additional 854 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Ichor by 28.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,068 shares during the last quarter. 94.81% of the stock is owned by institutional investors and hedge funds.

Ichor Company Profile

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment in the United States and internationally. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices.