Ichor (NASDAQ:ICHR) Price Target Raised to $40.00

Ichor (NASDAQ:ICHR) had its target price hoisted by TD Cowen from $35.00 to $40.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the technology company’s stock.

Several other equities analysts have also commented on ICHR. Oppenheimer began coverage on Ichor in a report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 target price on the stock. StockNews.com upgraded Ichor from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Needham & Company LLC decreased their target price on Ichor from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, DA Davidson initiated coverage on Ichor in a report on Thursday, September 26th. They issued a “buy” rating and a $50.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.57.

Ichor Price Performance

ICHR stock opened at $33.83 on Tuesday. The business’s 50-day moving average is $29.00 and its two-hundred day moving average is $33.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.27 and a quick ratio of 1.91. The firm has a market capitalization of $1.14 billion, a P/E ratio of -36.38 and a beta of 1.91. Ichor has a 1 year low of $22.26 and a 1 year high of $46.43.

Ichor (NASDAQ:ICHR) last issued its earnings results on Monday, November 4th. The technology company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.18%. The firm had revenue of $211.14 million for the quarter, compared to analysts’ expectations of $203.24 million. During the same quarter last year, the company earned ($0.09) earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Analysts anticipate that Ichor will post -0.17 earnings per share for the current fiscal year.

Institutional Trading of Ichor

Hedge funds have recently made changes to their positions in the company. Swedbank AB purchased a new position in Ichor during the first quarter worth about $67,106,000. Hood River Capital Management LLC purchased a new position in shares of Ichor during the 1st quarter worth approximately $36,971,000. Westfield Capital Management Co. LP lifted its holdings in shares of Ichor by 162.9% in the 1st quarter. Westfield Capital Management Co. LP now owns 335,867 shares of the technology company’s stock valued at $12,971,000 after buying an additional 208,117 shares during the period. Vanguard Group Inc. boosted its stake in shares of Ichor by 6.6% in the first quarter. Vanguard Group Inc. now owns 2,841,622 shares of the technology company’s stock valued at $109,743,000 after buying an additional 176,970 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Ichor in the second quarter valued at approximately $6,382,000. Institutional investors and hedge funds own 94.81% of the company’s stock.

About Ichor

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.