Ichor (NASDAQ:ICHR) Trading Down 7.7% – Here’s Why

Ichor Holdings, Ltd. (NASDAQ:ICHR) dropped 7.7% on Wednesday . The stock traded as low as $25.29 and last traded at $25.28. Approximately 60,207 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 321,356 shares. The stock had previously closed at $27.38.

Analyst Ratings Changes

A number of research firms have weighed in on ICHR. Needham & Company LLC reiterated a “hold” rating on shares of Ichor in a report on Wednesday, February 5th. StockNews.com lowered shares of Ichor from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Finally, TD Cowen dropped their target price on shares of Ichor from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.29.

Ichor Trading Down 8.3 %

The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 1.49. The stock has a market cap of $853.82 million, a P/E ratio of -38.65 and a beta of 1.91. The stock’s 50-day moving average is $29.53 and its two-hundred day moving average is $30.29.

Ichor (NASDAQ:ICHR) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). Ichor had a negative net margin of 2.45% and a negative return on equity of 1.38%. Equities research analysts anticipate that Ichor Holdings, Ltd. will post 1.01 EPS for the current year.

Insider Activity at Ichor

In other news, Director Jorge Titinger sold 3,000 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.04, for a total value of $96,120.00. Following the sale, the director now owns 9,832 shares in the company, valued at $315,017.28. This represents a 23.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Ichor

Several hedge funds have recently bought and sold shares of ICHR. Oberweis Asset Management Inc. purchased a new stake in Ichor during the fourth quarter worth $10,884,000. Raymond James Financial Inc. purchased a new position in Ichor in the 4th quarter worth approximately $8,489,000. JPMorgan Chase & Co. grew its position in shares of Ichor by 73.6% in the fourth quarter. JPMorgan Chase & Co. now owns 590,630 shares of the technology company’s stock valued at $19,030,000 after purchasing an additional 250,383 shares in the last quarter. Royce & Associates LP lifted its position in Ichor by 20.2% during the fourth quarter. Royce & Associates LP now owns 864,245 shares of the technology company’s stock worth $27,846,000 after buying an additional 145,278 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Ichor by 18.7% during the fourth quarter. Nuveen Asset Management LLC now owns 777,289 shares of the technology company’s stock worth $25,044,000 after buying an additional 122,280 shares during the last quarter. Hedge funds and other 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.