TD Cowen Issues Pessimistic Forecast for Ichor (NASDAQ:ICHR) Stock Price

Key Points

• TD Cowen has reduced its price target for Ichor (NASDAQ: ICHR) from $28.00 to $22.00, maintaining a "buy" rating, suggesting a potential upside of 9.24% from the previous close.
• Ichor reported earnings per share (EPS) of $0.03 for the recent quarter, missing estimates by $0.11, despite an 18.2% increase in quarterly revenue compared to the previous year.
• Recent insider trading includes CEO Jeff Andreson purchasing 10,000 shares at an average price of $16.86, increasing his stake in the company significantly.

Ichor (NASDAQ:ICHR - Get Free Report) had its price target cut by investment analysts at TD Cowen from $28.00 to $22.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm currently has a "buy" rating on the technology company's stock. TD Cowen's price target would suggest a potential upside of 26.15% from the company's current price.

Several other research analysts have also recently issued reports on ICHR. B. Riley reissued a "buy" rating and issued a $30.00 price objective (up previously from $23.00) on shares of Ichor in a research note on Friday, July 11th. Stifel Nicolaus lowered their target price on Ichor from $35.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. DA Davidson dropped their price target on Ichor from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Oppenheimer decreased their price objective on Ichor from $35.00 to $25.00 and set a "market perform" rating for the company in a report on Friday, April 11th. Finally, Needham & Company LLC restated a "hold" rating on shares of Ichor in a 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 given a buy rating to the company's stock. According to MarketBeat.com, Ichor has a consensus rating of "Hold" and a consensus price target of $23.80.

Ichor Trading Up 4.7%

Shares of ICHR stock traded up $0.78 on Tuesday, reaching $17.44. 2,504,349 shares of the company's stock were exchanged, compared to its average volume of 869,870. Ichor has a 52 week low of $13.12 and a 52 week high of $36.48. The company has a current ratio of 3.22, a quick ratio of 1.32 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $598.72 million, a PE ratio of -28.59 and a beta of 1.75. The company's fifty day simple moving average is $19.88 and its 200 day simple moving average is $22.45.

Ichor (NASDAQ:ICHR - Get Free Report) last released its earnings results 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). The business had revenue of $240.29 million during the quarter, compared to analysts' expectations of $234.51 million. Ichor had a negative return on equity of 0.77% and a negative net margin of 2.23%. The business's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.05 EPS. As a group, analysts forecast that Ichor will post 1.01 EPS for the current year.

Hedge Funds Weigh In On Ichor

Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new position in Ichor during the 4th quarter worth $382,000. Sei Investments Co. grew its stake 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 worth $417,000 after acquiring an additional 4,745 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Ichor during the fourth quarter worth about $193,000. JPMorgan Chase & Co. increased its holdings in shares of Ichor by 73.6% during the fourth quarter. JPMorgan Chase & Co. now owns 590,630 shares of the technology company's stock valued at $19,030,000 after acquiring an additional 250,383 shares in the last quarter. Finally, Franklin Resources Inc. raised its position 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 valued at $4,304,000 after purchasing an additional 53,134 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors.

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.