Ichor (NASDAQ:ICHR) Shares Gap Up After Strong Earnings

Ichor Holdings, Ltd. (NASDAQ:ICHR)’s stock price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $27.14, but opened at $31.50. Ichor shares last traded at $30.86, with a volume of 106,046 shares traded.

The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. Ichor had a negative return on equity of 2.56% and a negative net margin of 4.53%. The firm had revenue of $211.14 million during the quarter, compared to the consensus estimate of $203.24 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis.

Analysts Set New Price Targets

A number of analysts have weighed in on ICHR shares. Oppenheimer began coverage on shares of Ichor in a research report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 target price on the stock. DA Davidson initiated coverage on Ichor in a research report on Thursday, September 26th. They set a “buy” rating and a $50.00 price objective on the stock. Needham & Company LLC dropped their target price on Ichor from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. TD Cowen boosted their price target on Ichor from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, StockNews.com upgraded shares of Ichor from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.57.

Hedge Funds Weigh In On Ichor

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Ichor by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 2,841,622 shares of the technology company’s stock worth $109,743,000 after purchasing an additional 176,970 shares during the last quarter. Swedbank AB bought a new position in Ichor during the first quarter worth $67,106,000. Hood River Capital Management LLC raised its stake in Ichor by 15.8% during the second quarter. Hood River Capital Management LLC now owns 1,108,227 shares of the technology company’s stock worth $42,722,000 after buying an additional 150,933 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in Ichor by 2.2% in the third quarter. Pinnacle Associates Ltd. now owns 498,955 shares of the technology company’s stock valued at $16,780,000 after buying an additional 10,761 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in Ichor by 5.6% during the second quarter. First Eagle Investment Management LLC now owns 373,948 shares of the technology company’s stock valued at $14,416,000 after acquiring an additional 19,850 shares during the last quarter. 94.81% of the stock is owned by institutional investors and hedge funds.

Ichor Stock Performance

The stock has a fifty day simple moving average of $28.90 and a two-hundred day simple moving average of $33.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.91 and a current ratio of 4.27. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -33.87 and a beta of 1.91.

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.