B. Riley Has Negative Forecast for Ichor FY2024 Earnings

Ichor Holdings, Ltd. (NASDAQ:ICHR) – B. Riley lowered their FY2024 EPS estimates for shares of Ichor in a report issued on Monday, January 13th. B. Riley analyst C. Ellis now anticipates that the technology company will post earnings per share of ($0.30) for the year, down from their previous forecast of ($0.11). B. Riley currently has a “Buy” rating and a $38.00 price objective on the stock. The consensus estimate for Ichor’s current full-year earnings is ($0.10) per share. B. Riley also issued estimates for Ichor’s Q4 2024 earnings at ($0.05) EPS, Q2 2025 earnings at $0.17 EPS and FY2025 earnings at $0.78 EPS.

Ichor (NASDAQ:ICHR) last released its earnings results on Monday, November 4th. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $211.14 million during the quarter, compared to analysts’ expectations of $203.24 million. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.14%. Ichor’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS.

ICHR has been the subject of several other research reports. DA Davidson assumed coverage on Ichor in a report on Thursday, September 26th. They issued a “buy” rating and a $50.00 price target for the company. Oppenheimer assumed coverage on shares of Ichor in a research report on Wednesday, September 25th. They set a “market perform” rating and a $35.00 price target for the company. TD Cowen decreased their price target on shares of Ichor from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday. Finally, Needham & Company LLC cut shares of Ichor from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.29.

Ichor Price Performance

Shares of NASDAQ:ICHR opened at $30.84 on Thursday. The business has a fifty day simple moving average of $32.18 and a 200-day simple moving average of $31.69. Ichor has a 52 week low of $26.40 and a 52 week high of $46.43. The company has a market cap of $1.04 billion, a P/E ratio of -33.16 and a beta of 1.92. The company has a quick ratio of 1.69, a current ratio of 3.64 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On Ichor

Hedge funds have recently made changes to their positions in the business. State Street Corp increased its holdings in Ichor by 1.8% in the 3rd quarter. State Street Corp now owns 1,232,532 shares of the technology company’s stock valued at $39,207,000 after purchasing an additional 21,804 shares in the last quarter. Hood River Capital Management LLC grew its stake in shares of Ichor by 15.8% in the second quarter. Hood River Capital Management LLC now owns 1,108,227 shares of the technology company’s stock valued at $42,722,000 after buying an additional 150,933 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Ichor by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 795,794 shares of the technology company’s stock valued at $25,319,000 after buying an additional 27,540 shares during the period. Royce & Associates LP lifted its position in Ichor by 20.8% during the 3rd quarter. Royce & Associates LP now owns 718,967 shares of the technology company’s stock worth $22,870,000 after acquiring an additional 123,585 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in Ichor by 4.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 580,818 shares of the technology company’s stock worth $18,476,000 after acquiring an additional 24,889 shares during the period. 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.