Ichor (NASDAQ:ICHR) Upgraded to “Buy” at B. Riley

B. Riley upgraded shares of Ichor (NASDAQ:ICHR) from a neutral rating to a buy rating in a research note issued to investors on Friday, Marketbeat Ratings reports. B. Riley currently has $48.00 price target on the technology company’s stock, up from their previous price target of $40.00.

A number of other research analysts have also recently issued reports on ICHR. TD Cowen lifted their price target on shares of Ichor from $31.00 to $42.00 and gave the company an outperform rating in a research report on Wednesday, February 7th. Stifel Nicolaus lifted their price target on shares of Ichor from $40.00 to $45.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Craig Hallum assumed coverage on shares of Ichor in a research report on Tuesday, April 9th. They set a buy rating and a $55.00 price target for the company. Finally, Needham & Company LLC reissued a buy rating and set a $42.00 price target on shares of Ichor in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $46.40.

Ichor Price Performance

Shares of Ichor stock opened at $36.17 on Friday. The firm has a market cap of $1.19 billion, a PE ratio of -24.61 and a beta of 2.02. Ichor has a 12-month low of $22.26 and a 12-month high of $46.43. The company has a quick ratio of 1.57, a current ratio of 4.06 and a debt-to-equity ratio of 0.43. The company’s fifty day simple moving average is $40.21 and its two-hundred day simple moving average is $33.85.

Ichor (NASDAQ:ICHR) last announced its quarterly earnings results on Tuesday, February 6th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.13). Ichor had a negative return on equity of 0.88% and a negative net margin of 5.30%. The firm had revenue of $203.48 million during the quarter, compared to the consensus estimate of $197.50 million. As a group, equities analysts expect that Ichor will post 0.23 EPS for the current year.

Insider Activity at Ichor

In other Ichor news, CTO Philip Ryan Sr. Barros sold 7,226 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $45.39, for a total value of $327,988.14. Following the completion of the transaction, the chief technology officer now directly owns 50,490 shares in the company, valued at $2,291,741.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Ichor news, CTO Philip Ryan Sr. Barros sold 7,226 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $45.39, for a total value of $327,988.14. Following the completion of the transaction, the chief technology officer now directly owns 50,490 shares in the company, valued at $2,291,741.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas M. Rohrs sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $45.37, for a total transaction of $2,268,500.00. Following the completion of the transaction, the director now owns 43,764 shares of the company’s stock, valued at $1,985,572.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,659 shares of company stock worth $3,652,848. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ichor

Several hedge funds have recently modified their holdings of ICHR. FMR LLC raised its stake in Ichor by 9.4% during the third quarter. FMR LLC now owns 3,103,779 shares of the technology company’s stock valued at $96,093,000 after purchasing an additional 265,677 shares in the last quarter. Vanguard Group Inc. raised its stake in Ichor by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 2,664,652 shares of the technology company’s stock valued at $89,612,000 after purchasing an additional 41,104 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Ichor by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,764,749 shares of the technology company’s stock valued at $59,350,000 after purchasing an additional 56,725 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in Ichor by 27.0% during the fourth quarter. Pinnacle Associates Ltd. now owns 498,955 shares of the technology company’s stock valued at $16,780,000 after purchasing an additional 105,934 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in Ichor by 4.3% during the third quarter. Kennedy Capital Management LLC now owns 465,829 shares of the technology company’s stock valued at $14,422,000 after purchasing an additional 19,354 shares in the last quarter. Hedge funds and other institutional investors 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.