Ichor (NASDAQ:ICHR) Price Target Cut to $60.00 by Analysts at B. Riley Financial

Key Points

• B. Riley lowered its price target on Ichor to $60 from $70 but maintained a Buy rating; the target implies about 81% upside from the prior close.
• Analyst views remain mixed but lean positive: Ichor has a Moderate Buy consensus rating and an average price target of $69.78.
• Ichor beat quarterly EPS estimates ($0.63 versus $0.45), while revenue of $328.7 million fell slightly short of expectations despite growing 37.4% year over year.

Ichor (NASDAQ:ICHR - Get Free Report) had its price target reduced by equities researchers at B. Riley Financial from $70.00 to $60.00 in a research report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. B. Riley Financial's price objective suggests a potential upside of 80.91% from the company's previous close.

Several other research firms also recently weighed in on ICHR. Wall Street Zen upgraded shares of Ichor from a "hold" rating to a "buy" rating in a research report on Saturday, October 17th. TD Cowen dropped their price objective on shares of Ichor from $100.00 to $55.00 and set a "buy" rating for the company in a report on Tuesday, November 3rd. Freedom Broker began coverage on shares of Ichor in a research report on Friday, October 9th. They set a "buy" rating and a $82.00 price objective for the company. Zacks Research downgraded shares of Ichor from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Finally, Stifel Nicolaus decreased their target price on shares of Ichor from $115.00 to $93.00 and set a "buy" rating on the stock in a report on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ichor has an average rating of "Moderate Buy" and a consensus price target of $69.78.

Ichor Price Performance

ICHR opened at $33.16 on Monday. The company has a quick ratio of 1.89, a current ratio of 3.56 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $50.58 and a 200 day moving average of $60.59. Ichor has a 52-week low of $14.07 and a 52-week high of $113.58. The stock has a market cap of $1.25 billion, a P/E ratio of 662.43 and a beta of 1.88.

Ichor (NASDAQ:ICHR - Get Free Report) last announced its quarterly earnings results on Monday, November 2nd. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.18. The business had revenue of $328.70 million for the quarter, compared to the consensus estimate of $330.15 million. Ichor had a return on equity of 3.54% and a net margin of 0.32%. The business's revenue was up 37.4% compared to the same quarter last year. During the same period last year, the business posted $0.07 EPS. As a group, sell-side analysts anticipate that Ichor will post 1.36 EPS for the current year.

Insider Buying and Selling at Ichor

In other Ichor news, CEO Philip Barros, Jr. sold 1,314 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $61.88, for a total transaction of $81,310.32. Following the completion of the sale, the chief executive officer directly owned 161,562 shares in the company, valued at $9,997,456.56. This represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Bruce Ragsdale sold 10,587 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $51.93, for a total value of $549,782.91. Following the completion of the sale, the chief operating officer owned 92,324 shares of the company's stock, valued at approximately $4,794,385.32. This trade represents a 10.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 46,740 shares of company stock worth $2,602,960. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Ichor

Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc raised its stake in shares of Ichor by 100.0% in the second quarter. Versant Capital Management Inc now owns 252 shares of the technology company's stock valued at $28,000 after purchasing an additional 126 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Ichor during the second quarter worth about $45,000. Allworth Financial LP grew its stake in shares of Ichor by 125.1% in the 2nd quarter. Allworth Financial LP now owns 421 shares of the technology company's stock valued at $47,000 after purchasing an additional 234 shares during the period. Signaturefd LLC grew its holdings in shares of Ichor by 127.7% in the 3rd quarter. Signaturefd LLC now owns 542 shares of the technology company's stock worth $34,000 after purchasing an additional 304 shares during the last quarter. Finally, KBC Group NV bought a new stake in Ichor during the first quarter worth about $44,000. 94.81% of the stock is owned by institutional investors and hedge funds.

Ichor Company Profile

Ichor Holdings, Ltd. NASDAQ: ICHR is a supplier to the semiconductor equipment industry. The company designs, engineers and manufactures critical fluid-delivery subsystems used in semiconductor fabrication equipment, including systems that deliver and control gases and chemicals during the wafer-manufacturing process.

Ichor's products and services include gas and chemical delivery systems, precision-machined components, weldments, fluid-management assemblies and related engineering and manufacturing services.

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