B. Riley Has Bearish Estimate for Ichor FY2024 Earnings

Ichor Holdings, Ltd. (NASDAQ:ICHR) – Analysts at B. Riley decreased their FY2024 EPS estimates for Ichor in a research note 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 prior forecast of ($0.11). B. Riley 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.

Several other brokerages also recently weighed in on ICHR. TD Cowen lifted their price objective on shares of Ichor from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Oppenheimer started coverage on shares of Ichor in a research note on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price target on the stock. Needham & Company LLC downgraded Ichor from a “buy” rating to a “hold” rating in a research report on Monday. Finally, DA Davidson began coverage on Ichor in a research report on Thursday, September 26th. They issued a “buy” rating and a $50.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.57.

Ichor Stock Performance

Shares of ICHR opened at $30.62 on Thursday. The firm has a fifty day moving average of $32.28 and a 200-day moving average of $31.75. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -32.92 and a beta of 1.92. 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 has a 1 year low of $26.40 and a 1 year high of $46.43.

Ichor (NASDAQ:ICHR) last announced its quarterly earnings results 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. The business had revenue of $211.14 million for 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 business’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.09) EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ICHR. Quarry LP lifted its position in Ichor by 99.5% in the second quarter. Quarry LP now owns 868 shares of the technology company’s stock worth $33,000 after purchasing an additional 433 shares during the period. GAMMA Investing LLC raised its stake in shares of Ichor by 136.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock worth $34,000 after buying an additional 625 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Ichor by 214.6% in the third quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock valued at $40,000 after buying an additional 854 shares during the period. CWM LLC boosted its stake in Ichor by 134.9% during the third quarter. CWM LLC now owns 3,617 shares of the technology company’s stock valued at $115,000 after buying an additional 2,077 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ichor by 28.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company’s stock worth $153,000 after acquiring an additional 1,068 shares during the period. Institutional investors and hedge funds 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.