Pinnacle Associates Ltd. Trims Holdings in Ichor Holdings, Ltd. (NASDAQ:ICHR)

Key Points

• Pinnacle Associates Ltd. reduced its holdings in Ichor Holdings, Ltd. by 7.4%, owning approximately 385,443 shares worth $8.7 million after selling 30,826 shares.
• Institutional investors currently hold 94.81% of Ichor's stock, indicating significant institutional interest despite recent stock fluctuations.
• Ichor reported a negative EPS of $0.12, missing analyst estimates, despite a 21.4% year-over-year revenue increase of $244.47 million.

Pinnacle Associates Ltd. lowered its stake in Ichor Holdings, Ltd. (NASDAQ:ICHR - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 385,443 shares of the technology company's stock after selling 30,826 shares during the quarter. Pinnacle Associates Ltd. owned about 1.13% of Ichor worth $8,715,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Swiss National Bank raised its position in shares of Ichor by 1.4% during the 4th quarter. Swiss National Bank now owns 66,200 shares of the technology company's stock valued at $2,133,000 after buying an additional 900 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Ichor by 20.0% during the 4th quarter. Natixis Advisors LLC now owns 28,415 shares of the technology company's stock valued at $916,000 after buying an additional 4,739 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Ichor by 88.7% during the 4th quarter. Quantbot Technologies LP now owns 13,293 shares of the technology company's stock valued at $428,000 after buying an additional 6,248 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Ichor during the 4th quarter valued at about $382,000. Finally, Sei Investments Co. raised its position in shares of Ichor by 57.9% during the 4th quarter. Sei Investments Co. now owns 12,943 shares of the technology company's stock valued at $417,000 after buying an additional 4,745 shares in the last quarter. Hedge funds and other institutional investors own 94.81% of the company's stock.

Ichor Stock Performance

Shares of Ichor stock traded up $0.67 during trading on Monday, hitting $21.33. 65,243 shares of the company's stock were exchanged, compared to its average volume of 389,446. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.32 and a current ratio of 3.09. The business has a 50-day simple moving average of $19.53 and a 200-day simple moving average of $23.21. Ichor Holdings, Ltd. has a 52-week low of $15.33 and a 52-week high of $36.48. The stock has a market capitalization of $727.61 million, a price-to-earnings ratio of -44.45 and a beta of 1.80.

Ichor (NASDAQ:ICHR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The technology company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.14). Ichor had a negative net margin of 1.84% and a negative return on equity of 0.63%. The firm had revenue of $244.47 million during the quarter, compared to analysts' expectations of $244.95 million. During the same period in the previous year, the firm posted ($0.09) EPS. The firm's quarterly revenue was up 21.4% on a year-over-year basis. On average, research analysts forecast that Ichor Holdings, Ltd. will post 1.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. B. Riley reissued a "buy" rating and issued a $30.00 price objective (up from $23.00) on shares of Ichor in a research report on Friday, July 11th. Stifel Nicolaus reduced their price objective on shares of Ichor from $35.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Oppenheimer reduced their price objective on shares of Ichor from $35.00 to $25.00 and set a "market perform" rating on the stock in a research report on Friday, April 11th. TD Cowen reduced their price objective on shares of Ichor from $38.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Ichor in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $32.67.

Insider Activity

In other Ichor news, CEO Jeff Andreson purchased 10,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $16.86 per share, for a total transaction of $168,600.00. Following the completion of the transaction, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by company insiders.

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.