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

ICHR has been the subject of a number of other reports. Stifel Nicolaus reduced their target price on shares of Ichor from $35.00 to $28.00 and set a "buy" rating for the company 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. DA Davidson decreased their target price on shares of Ichor from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Oppenheimer dropped their price target on Ichor from $35.00 to $25.00 and set a "market perform" rating for the company in a research report on Friday, April 11th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Ichor in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Ichor has an average rating of "Hold" and an average target price of $23.80.

Ichor Price Performance

ICHR stock traded up $0.78 during trading on Tuesday, hitting $17.44. The stock had a trading volume of 2,504,349 shares, compared to its average volume of 471,453. Ichor has a twelve month low of $13.12 and a twelve month high of $36.48. The company's 50-day moving average price is $19.85 and its two-hundred day moving average price is $22.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.22 and a quick ratio of 1.32. The stock has a market capitalization of $598.72 million, a P/E ratio of -28.59 and a beta of 1.75.

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

Institutional Trading of Ichor

Several hedge funds have recently made changes to their positions in ICHR. American Century Companies Inc. acquired a new stake in shares of Ichor during the 4th quarter worth about $382,000. Sei Investments Co. increased its position in shares of Ichor by 57.9% during the fourth quarter. Sei Investments Co. now owns 12,943 shares of the technology company's stock valued at $417,000 after acquiring an additional 4,745 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Ichor in the 4th quarter valued at approximately $193,000. JPMorgan Chase & Co. lifted its holdings in shares of Ichor by 73.6% in the 4th quarter. JPMorgan Chase & Co. now owns 590,630 shares of the technology company's stock worth $19,030,000 after acquiring an additional 250,383 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Ichor by 66.1% in the 4th quarter. Franklin Resources Inc. now owns 133,573 shares of the technology company's stock worth $4,304,000 after acquiring an additional 53,134 shares during the last quarter. Hedge funds and other institutional investors own 94.81% of the company's stock.

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.