Oppenheimer Reiterates $21.00 Price Target for Ichor (NASDAQ:ICHR)

Key Points

• Oppenheimer has lowered its price target for Ichor (NASDAQ:ICHR) from $25.00 to $21.00, maintaining a "market perform" rating amid mixed analyst opinions.
• Despite the reduction, Oppenheimer's new price target implies a potential upside of 4.27% from Ichor's current trading price of approximately $20.14.
• Ichor's recent quarterly earnings report indicated revenue growth of 18.2% year-over-year, although it missed earnings estimates, reporting just $0.03 EPS compared to the expected $0.14 EPS.

Ichor (NASDAQ:ICHR - Get Free Report) has been assigned a $21.00 target price by stock analysts at Oppenheimer in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a "market perform" rating on the technology company's stock. Oppenheimer's price target would suggest a potential upside of 20.41% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Ichor in a research note on Tuesday, May 6th. Stifel Nicolaus set a $23.00 target price on shares of Ichor and gave the company a "buy" rating in a research note on Tuesday. B. Riley cut shares of Ichor from a "buy" rating to a "neutral" rating and set a $18.00 target price for the company. in a research note on Tuesday. DA Davidson decreased their price target 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. Finally, TD Cowen dropped their price objective on Ichor from $28.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $23.80.

Ichor Stock Performance

Shares of Ichor stock traded up $0.78 during trading hours on Tuesday, reaching $17.44. The company's stock had a trading volume of 2,504,349 shares, compared to its average volume of 869,870. The company's 50 day simple moving average is $19.88 and its 200 day simple moving average is $22.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.32 and a current ratio of 3.22. Ichor has a one year low of $13.12 and a one year high of $36.48. The stock has a market cap 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 data on Monday, August 4th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $234.51 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. Ichor's revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, analysts expect that Ichor will post 1.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Ichor

Several institutional investors and hedge funds have recently made changes to their positions in ICHR. Geode Capital Management LLC raised its holdings in shares of Ichor by 0.7% during the second quarter. Geode Capital Management LLC now owns 826,399 shares of the technology company's stock worth $16,233,000 after acquiring an additional 5,691 shares during the period. CSM Advisors LLC acquired a new stake in Ichor during the 2nd quarter valued at $2,866,000. Fox Run Management L.L.C. acquired a new stake in Ichor during the 2nd quarter valued at $424,000. Bank of New York Mellon Corp lifted its holdings in Ichor by 143.9% during the 2nd 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 last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in Ichor by 0.3% in the 2nd quarter. Pinnacle Associates Ltd. now owns 386,542 shares of the technology company's stock valued at $7,592,000 after buying an additional 1,099 shares in the last quarter. Institutional investors and hedge funds 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.