Ichor (NASDAQ:ICHR) Issues Quarterly Earnings Results

Key Points

• Ichor exceeded quarterly EPS expectations, reporting $0.63 per share versus the $0.45 consensus estimate. Revenue of $328.7 million was slightly below analysts’ $330.15 million forecast, while the company posted a negative 3.97% net margin.
• Shares fell 5.3% to $36.84 following the results, well below the 50-day and 200-day moving averages. The stock has traded between $14.06 and $113.58 over the past year.
• Analyst sentiment remains a “Moderate Buy”, with a consensus price target of $85.89, although ratings range from Strong Buy to Sell. Insiders sold 46,740 shares worth approximately $2.6 million over the last 90 days, primarily under pre-arranged trading plans.

Ichor (NASDAQ:ICHR - Get Free Report) posted its quarterly earnings results on Monday. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.18, FiscalAI reports. The company had revenue of $328.70 million for the quarter, compared to analysts' expectations of $330.15 million. Ichor had a positive return on equity of 0.47% and a negative net margin of 3.97%.

Ichor Stock Down 5.3%

Shares of ICHR traded down $2.06 during mid-day trading on Monday, reaching $36.84. The company's stock had a trading volume of 1,385,977 shares, compared to its average volume of 981,326. The business has a fifty day moving average of $53.07 and a 200 day moving average of $60.47. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -31.49 and a beta of 1.79. Ichor has a 1 year low of $14.06 and a 1 year high of $113.58. The company has a quick ratio of 2.07, a current ratio of 3.70 and a debt-to-equity ratio of 0.13.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ICHR. Stifel Nicolaus boosted their target price on Ichor from $76.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. UBS Group set a $82.00 price target on Ichor in a research report on Thursday, October 8th. B. Riley Financial dropped their price target on Ichor from $125.00 to $105.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Ichor in a report on Monday, September 21st. Finally, Zacks Research lowered shares of Ichor from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Ichor currently has an average rating of "Moderate Buy" and a consensus target price of $85.89.

Insiders Place Their Bets

In other news, CEO Philip Barros, Jr. sold 1,314 shares of Ichor stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $61.88, for a total transaction of $81,310.32. Following the transaction, the chief executive officer owned 161,562 shares in the company, valued at approximately $9,997,456.56. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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, Director Iain MacKenzie sold 20,000 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $50.66, for a total value of $1,013,200.00. Following the completion of the sale, the director directly owned 102,427 shares of the company's stock, valued at approximately $5,188,951.82. This represents a 16.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 46,740 shares of company stock worth $2,602,960. 1.70% of the stock is currently owned by corporate insiders.

About Ichor

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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