DA Davidson Cuts Ichor (NASDAQ:ICHR) Price Target to $35.00

Key Points

• DA Davidson has reduced Ichor's price target from $45.00 to $35.00, while maintaining a "buy" rating, indicating a potential upside of 141.15% from the stock's previous close.
• Other brokerages have also revised their ratings, with B. Riley downgrading Ichor from "buy" to "neutral" and setting a target of $18.00, while TD Cowen set a new price objective of $22.00.
• Ichor reported earnings of $0.03 EPS, missing estimates of $0.14, despite an 18.2% revenue increase compared to the same quarter last year.

Ichor (NASDAQ:ICHR - Get Free Report) had its price target lowered by stock analysts at DA Davidson from $45.00 to $35.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. DA Davidson's target price would indicate a potential upside of 141.15% from the stock's previous close.

A number of other brokerages have also recently weighed in on ICHR. B. Riley cut Ichor from a "buy" rating to a "neutral" rating and set a $18.00 price objective for the company. in a research note on Tuesday. TD Cowen cut their price objective on shares of Ichor from $28.00 to $22.00 and set a "buy" rating on the stock in a report on Tuesday. Oppenheimer set a $21.00 price objective on shares of Ichor and gave the company a "market perform" rating in a report on Tuesday. Stifel Nicolaus set a $23.00 price objective on shares of Ichor and gave the company a "buy" rating in a report on Tuesday. Finally, Needham & Company LLC restated a "hold" rating on shares of Ichor in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $26.50.

Ichor Price Performance

NASDAQ:ICHR traded up $0.45 during trading hours on Wednesday, reaching $14.51. The stock had a trading volume of 1,394,710 shares, compared to its average volume of 429,759. The company has a 50 day moving average price of $19.88 and a two-hundred day moving average price of $22.70. The stock has a market capitalization of $495.22 million, a PE ratio of -23.80 and a beta of 1.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.32 and a current ratio of 3.09. Ichor has a 52 week low of $13.12 and a 52 week high of $36.48.

Ichor (NASDAQ:ICHR - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.11). Ichor had a negative net margin of 2.23% and a negative return on equity of 0.77%. The business had revenue of $240.29 million during the quarter, compared to the consensus estimate of $234.51 million. During the same period last year, the company earned $0.05 EPS. The business's revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ichor will post 1.01 earnings per share for the current fiscal year.

Insider Transactions at Ichor

In related news, CEO Jeff Andreson purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $16.86 per share, with a total value of $168,600.00. Following the purchase, the chief executive officer owned 285,594 shares of the company's stock, valued at $4,815,114.84. The trade was a 3.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.90% of the company's stock.

Institutional Investors Weigh In On Ichor

Several institutional investors and hedge funds have recently added to or reduced their stakes in ICHR. GAMMA Investing LLC raised its holdings in Ichor by 95.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,619 shares of the technology company's stock valued at $32,000 after buying an additional 789 shares during the period. Nisa Investment Advisors LLC raised its holdings in Ichor by 1,060.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,753 shares of the technology company's stock valued at $34,000 after buying an additional 1,602 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Ichor in the 2nd quarter valued at about $37,000. Quarry LP raised its holdings in Ichor by 54.9% in the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $78,000 after buying an additional 860 shares during the period. Finally, CWM LLC raised its holdings in Ichor by 105.6% in the 2nd quarter. CWM LLC now owns 4,532 shares of the technology company's stock valued at $89,000 after buying an additional 2,328 shares during the period. 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.

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