Ichor (NASDAQ:ICHR) Lowered to "Neutral" Rating by B. Riley

Key Points

• Ichor has been downgraded by B. Riley from a "buy" rating to a "neutral" rating, with a new price target of $18.00, suggesting a potential downside of 10.63% from the previous close.
• Several analysts have lowered their price objectives for Ichor, with one analyst rating the stock as a "sell," while the consensus rating remains as a "Hold" with an average target price of $29.67.
• Recently, Ichor's CEO purchased 10,000 shares at an average price of $16.86 per share, indicating insider confidence, while institutional investors own more than 94.81% of the company's stock.

B. Riley cut shares of Ichor (NASDAQ:ICHR - Free Report) from a buy rating to a neutral rating in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $18.00 target price on the technology company's stock.

ICHR has been the topic of several other research reports. Stifel Nicolaus lowered their price objective on Ichor from $35.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. DA Davidson dropped their price target on shares of Ichor from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. TD Cowen cut their price objective on shares of Ichor from $28.00 to $22.00 and set a "buy" rating for the company in a report on Tuesday. Needham & Company LLC reissued a "hold" rating on shares of Ichor in a research note on Tuesday, May 6th. Finally, Wall Street Zen lowered Ichor from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Ichor currently has an average rating of "Hold" and a consensus target price of $23.80.

Ichor Stock Performance

NASDAQ ICHR traded up $0.78 on Tuesday, reaching $17.44. 2,504,349 shares of the company's stock traded hands, compared to its average volume of 869,870. Ichor has a fifty-two week low of $13.12 and a fifty-two week high of $36.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.32 and a current ratio of 3.22. The firm has a market cap of $598.72 million, a price-to-earnings ratio of -28.59 and a beta of 1.75. The stock has a 50 day moving average price of $19.88 and a 200-day moving average price of $22.45.

Ichor (NASDAQ:ICHR - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The technology company reported $0.03 earnings per share (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 company had revenue of $240.29 million during the quarter, compared to analyst estimates of $234.51 million. During the same period last year, the firm earned $0.05 EPS. The business's quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict that Ichor will post 1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ICHR. American Century Companies Inc. boosted its position in Ichor by 10,313.1% during the first quarter. American Century Companies Inc. now owns 1,233,437 shares of the technology company's stock worth $27,888,000 after acquiring an additional 1,221,592 shares during the last quarter. Nuveen LLC purchased a new position in shares of Ichor during the 1st quarter worth $13,726,000. Wellington Management Group LLP boosted its holdings in Ichor by 42.6% in the 1st quarter. Wellington Management Group LLP now owns 1,663,070 shares of the technology company's stock valued at $37,602,000 after purchasing an additional 496,866 shares during the last quarter. Oberweis Asset Management Inc. purchased a new position in Ichor in the fourth quarter worth approximately $10,884,000. Finally, Bank of New York Mellon Corp raised its position in Ichor by 143.9% in the second quarter. Bank of New York Mellon Corp now owns 515,638 shares of the technology company's stock valued at $10,127,000 after purchasing an additional 304,228 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.