Ichor (NASDAQ:ICHR) Stock Gets Price Target Reduction from B. Riley Financial

Ichor (NASDAQ:ICHR) had its price target cut by B. Riley Financial from $70.00 to $60.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other equities research analysts have also issued reports on ICHR. Freedom Broker started coverage on shares of Ichor in a research note on Friday, October 9th. They set a “buy” rating and a $82.00 price target for the company. DA Davidson upgraded Ichor to a “strong-buy” rating in a research note on Monday, October 5th. Wall Street Zen raised Ichor from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Weiss Ratings raised Ichor from a “sell (d-)” rating to a “sell (d+)” rating in a report on Wednesday, November 4th. Finally, TD Cowen decreased their target price on Ichor from $100.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ichor presently has a consensus rating of “Moderate Buy” and an average target price of $64.44.

Ichor Price Performance

ICHR opened at $37.45 on Monday. The firm has a market cap of $1.41 billion, a P/E ratio of 48.99 and a beta of 1.88. The firm has a 50-day moving average of $49.50 and a 200 day moving average of $60.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.89 and a current ratio of 3.56. Ichor has a fifty-two week low of $14.07 and a fifty-two week high of $113.58.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings data on Monday, November 2nd. The technology company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.18. The business had revenue of $328.70 million during the quarter, compared to the consensus estimate of $330.15 million. Ichor had a net margin of 0.32% and a return on equity of 3.54%. The firm’s quarterly revenue was up 37.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 earnings per share. On average, research analysts expect that Ichor will post 1.36 EPS for the current year.

Insider Buying and Selling at Ichor

In other Ichor news, COO Bruce Ragsdale sold 10,587 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $51.93, for a total transaction of $549,782.91. Following the completion of the transaction, the chief operating officer owned 92,324 shares in the company, valued at $4,794,385.32. This trade represents a 10.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Iain MacKenzie sold 20,000 shares of Ichor stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $50.66, for a total transaction of $1,013,200.00. Following the completion of the transaction, the director owned 102,427 shares of the company’s stock, valued at $5,188,951.82. The trade was a 16.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 46,740 shares of company stock worth $2,602,960 over the last ninety days. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ICHR. Meeder Asset Management Inc. purchased a new position in Ichor in the 3rd quarter valued at approximately $26,000. Versant Capital Management Inc lifted its position in shares of Ichor by 100.0% during the second quarter. Versant Capital Management Inc now owns 252 shares of the technology company’s stock worth $28,000 after acquiring an additional 126 shares in the last quarter. Signaturefd LLC lifted its position in shares of Ichor by 127.7% during the third quarter. Signaturefd LLC now owns 542 shares of the technology company’s stock worth $34,000 after acquiring an additional 304 shares in the last quarter. KBC Group NV bought a new position in shares of Ichor in the first quarter worth $44,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Ichor in the second quarter worth $45,000. 94.81% of the stock is owned by institutional investors.

Ichor Company Profile

Ichor Holdings, Ltd. designs, engineers and manufactures fluid delivery systems and components used in semiconductor manufacturing equipment. Its products include gas and chemical delivery subsystems, gas panels, precision-machined parts and welded assemblies that help equipment makers control and deliver process materials used to manufacture semiconductor wafers. The company primarily serves original equipment manufacturers in the semiconductor capital equipment industry, supporting customers with manufacturing and engineering operations across multiple regions.