TD Cowen Issues Pessimistic Forecast for Ichor (NASDAQ:ICHR) Stock Price

Ichor (NASDAQ:ICHR) had its price target dropped by TD Cowen from $40.00 to $38.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the technology company’s stock. TD Cowen’s target price points to a potential upside of 23.22% from the company’s current price.

ICHR has been the topic of several other research reports. Needham & Company LLC cut Ichor from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. B. Riley reaffirmed a “buy” rating and set 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 issued a “market perform” rating and a $35.00 price objective for the company. Finally, DA Davidson began coverage on shares of Ichor in a report on Thursday, September 26th. They set a “buy” rating and a $50.00 target price on the stock. Three 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.29.

Ichor Price Performance

Shares of ICHR opened at $30.84 on Friday. The firm has a market capitalization of $1.04 billion, a PE ratio of -33.16 and a beta of 1.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.64 and a quick ratio of 1.69. The company’s 50-day moving average is $32.18 and its 200-day moving average is $31.64. Ichor has a fifty-two week low of $26.40 and a fifty-two week high of $46.43.

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

Institutional Trading of Ichor

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Ichor by 157.9% during the third quarter. JPMorgan Chase & Co. now owns 340,247 shares of the technology company’s stock worth $10,823,000 after purchasing an additional 208,328 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Ichor during the 2nd quarter worth $6,382,000. Hood River Capital Management LLC boosted its stake in 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. Renaissance Technologies LLC boosted its stake in Ichor by 322.6% in the second quarter. Renaissance Technologies LLC now owns 164,400 shares of the technology company’s stock valued at $6,338,000 after buying an additional 125,500 shares in the last quarter. Finally, Royce & Associates LP grew its position in Ichor by 20.8% in the third quarter. Royce & Associates LP now owns 718,967 shares of the technology company’s stock valued at $22,870,000 after acquiring an additional 123,585 shares during the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

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.