Ichor Holdings, Ltd. (NASDAQ:ICHR) Sees Significant Increase in Short Interest

Ichor Holdings, Ltd. (NASDAQ:ICHR) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 622,200 shares, a growth of 10.2% from the December 15th total of 564,400 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 240,500 shares, the short-interest ratio is presently 2.6 days.

Ichor Stock Performance

Shares of NASDAQ ICHR traded down $1.11 during mid-day trading on Friday, hitting $30.84. The company had a trading volume of 234,328 shares, compared to its average volume of 189,597. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -33.16 and a beta of 1.92. Ichor has a 12 month low of $26.40 and a 12 month high of $46.43. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.64 and a quick ratio of 1.69. The firm’s 50 day simple moving average is $32.18 and its two-hundred day simple moving average is $31.58.

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, beating the consensus estimate of $0.11 by $0.01. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. The company had revenue of $211.14 million for the quarter, compared to analysts’ expectations of $203.24 million. During the same period last year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Ichor will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Ichor

Hedge funds have recently modified their holdings of the company. Quarry LP increased its position in shares of Ichor by 99.5% during the 2nd quarter. Quarry LP now owns 868 shares of the technology company’s stock valued at $33,000 after purchasing an additional 433 shares during the period. GAMMA Investing LLC grew its holdings in shares of Ichor by 136.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock worth $34,000 after acquiring an additional 625 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Ichor by 214.6% in the 3rd quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock worth $40,000 after acquiring an additional 854 shares during the last quarter. CWM LLC grew its holdings in shares of Ichor by 134.9% in the 3rd quarter. CWM LLC now owns 3,617 shares of the technology company’s stock worth $115,000 after acquiring an additional 2,077 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ichor by 28.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company’s stock worth $153,000 after acquiring an additional 1,068 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on ICHR shares. TD Cowen reduced their price objective on Ichor from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday. DA Davidson began coverage on Ichor in a research report on Thursday, September 26th. They set a “buy” rating and a $50.00 target price on the stock. B. Riley restated a “buy” rating and issued a $38.00 price objective (up from $36.00) on shares of Ichor in a report on Tuesday, November 5th. Needham & Company LLC downgraded Ichor from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Oppenheimer began coverage on Ichor in a report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ichor has a consensus rating of “Moderate Buy” and an average price target of $42.29.

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.