Ichor (NASDAQ:ICHR) Shares Gap Up – What’s Next?

Ichor Holdings, Ltd. (NASDAQ:ICHR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $28.21, but opened at $30.12. Ichor shares last traded at $30.42, with a volume of 105,167 shares changing hands.

Wall Street Analyst Weigh In

ICHR has been the topic of several recent analyst reports. B. Riley reissued a “buy” rating and issued a $38.00 target price (up from $36.00) on shares of Ichor in a research note on Tuesday, November 5th. TD Cowen reduced their price target on shares of Ichor from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Ichor in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Ichor presently has an average rating of “Moderate Buy” and an average target price of $42.29.

Ichor Stock Performance

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 business’s 50-day moving average is $31.33 and its 200-day moving average is $30.61. The company has a market capitalization of $1.10 billion, a PE ratio of -34.95 and a beta of 1.91.

Ichor (NASDAQ:ICHR) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.14). Ichor had a negative net margin of 3.51% and a negative return on equity of 2.14%. On average, research analysts anticipate that Ichor Holdings, Ltd. will post -0.28 earnings per share for the current year.

Hedge Funds Weigh In On Ichor

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Ichor in the fourth quarter worth about $8,489,000. JPMorgan Chase & Co. increased its position in shares of Ichor by 157.9% during the third quarter. JPMorgan Chase & Co. now owns 340,247 shares of the technology company’s stock valued at $10,823,000 after acquiring an additional 208,328 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Ichor during the second quarter valued at approximately $6,382,000. Royce & Associates LP raised its holdings in Ichor by 20.8% in the 3rd quarter. Royce & Associates LP now owns 718,967 shares of the technology company’s stock worth $22,870,000 after acquiring an additional 123,585 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its position in Ichor by 26.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 568,117 shares of the technology company’s stock valued at $18,072,000 after acquiring an additional 120,133 shares in the last quarter. Institutional investors own 94.81% of the company’s stock.

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.