Ichor (NASDAQ:ICHR) Lowered to Hold Rating by Needham & Company LLC

Ichor (NASDAQ:ICHR) was downgraded by investment analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Monday, MarketBeat.com reports.

Other analysts have also issued reports about the company. DA Davidson initiated coverage on Ichor in a report on Thursday, September 26th. They set a “buy” rating and a $50.00 price objective for the company. B. Riley reissued a “buy” rating and issued a $38.00 price target (up from $36.00) on shares of Ichor in a research report on Tuesday, November 5th. Oppenheimer initiated coverage on shares of Ichor in a report on Wednesday, September 25th. They set a “market perform” rating and a $35.00 price objective on the stock. Finally, TD Cowen increased their target price on shares of Ichor from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.57.

Ichor Price Performance

Shares of ICHR opened at $31.00 on Monday. The firm has a market cap of $1.05 billion, a PE ratio of -33.33 and a beta of 1.92. Ichor has a 52-week low of $26.40 and a 52-week high of $46.43. The business’s 50 day moving average price is $32.32 and its two-hundred day moving average price is $31.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.69 and a current ratio of 3.64.

Ichor (NASDAQ:ICHR) last issued its earnings results on Monday, November 4th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The company had revenue of $211.14 million during the quarter, compared to the consensus estimate of $203.24 million. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the business posted ($0.09) EPS. On average, equities analysts anticipate that Ichor will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Ichor

Institutional investors and hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of Ichor by 24.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 49,351 shares of the technology company’s stock valued at $1,590,000 after buying an additional 9,709 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Ichor by 157.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 340,247 shares of the technology company’s stock worth $10,823,000 after acquiring an additional 208,328 shares during the period. Meros Investment Management LP increased its holdings in Ichor by 85.4% in the 3rd quarter. Meros Investment Management LP now owns 197,119 shares of the technology company’s stock worth $6,270,000 after acquiring an additional 90,791 shares during the last quarter. Geode Capital Management LLC raised its stake in Ichor by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 795,794 shares of the technology company’s stock valued at $25,319,000 after acquiring an additional 27,540 shares during the period. Finally, Barclays PLC lifted its holdings in Ichor by 377.6% during the third quarter. Barclays PLC now owns 56,787 shares of the technology company’s stock valued at $1,808,000 after purchasing an additional 44,897 shares during the last quarter. 94.81% of the stock is owned by institutional investors.

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.