Ichor (NASDAQ:ICHR) Issues Quarterly Earnings Results

Key Points

• Ichor exceeded earnings expectations, reporting quarterly EPS of $0.34 versus the $0.31 consensus estimate. Revenue was $294.78 million, below analysts’ $300.17 million forecast, while the company posted a negative 5.28% net margin.
• Shares rose $4.96 to $80.23 during Monday trading. Analysts remain broadly positive, with six Buy ratings, two Holds and one Sell, producing a “Moderate Buy” consensus and an average price target of $82.29.
• Insiders sold shares, with executives and directors selling 79,447 shares worth approximately $5.68 million over the past three months. Institutional investors and hedge funds own 94.81% of Ichor’s stock.

Ichor (NASDAQ:ICHR - Get Free Report) issued its earnings results on Monday. The technology company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.03, FiscalAI reports. Ichor had a negative net margin of 5.28% and a negative return on equity of 1.10%. The company had revenue of $294.78 million for the quarter, compared to analysts' expectations of $300.17 million.

Ichor Stock Performance

Ichor stock traded up $4.96 during mid-day trading on Monday, hitting $80.23. 1,358,406 shares of the company's stock traded hands, compared to its average volume of 1,048,224. The company has a quick ratio of 1.21, a current ratio of 2.82 and a debt-to-equity ratio of 0.17. Ichor has a one year low of $13.12 and a one year high of $113.58. The firm has a 50 day moving average price of $85.48 and a 200 day moving average price of $62.53. The company has a market cap of $2.80 billion, a PE ratio of -54.21 and a beta of 1.82.

Analyst Ratings Changes

ICHR has been the subject of several research reports. TD Cowen lifted their price target on shares of Ichor from $80.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ichor in a report on Wednesday, June 24th. B. Riley Financial boosted their price objective on Ichor from $90.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, June 18th. Stifel Nicolaus increased their target price on Ichor from $76.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, Needham & Company LLC raised their target price on Ichor from $48.00 to $72.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $82.29.

Insider Activity at Ichor

In related news, CFO Greg Swyt sold 19,662 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $70.42, for a total value of $1,384,598.04. Following the completion of the sale, the chief financial officer owned 60,971 shares of the company's stock, valued at $4,293,577.82. This represents a 24.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jorge Titinger sold 4,000 shares of the firm's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $64.21, for a total transaction of $256,840.00. Following the transaction, the director directly owned 12,318 shares in the company, valued at approximately $790,938.78. The trade was a 24.51% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 79,447 shares of company stock valued at $5,678,621. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ICHR. Steward Partners Investment Advisory LLC bought a new stake in shares of Ichor in the 4th quarter worth $26,000. Newbridge Financial Services Group Inc. bought a new position in shares of Ichor during the 2nd quarter valued at about $27,000. Danske Bank A S acquired a new position in shares of Ichor in the 3rd quarter worth approximately $28,000. State of Wyoming grew its stake in shares of Ichor by 607.7% in the 4th quarter. State of Wyoming now owns 3,234 shares of the technology company's stock worth $60,000 after purchasing an additional 2,777 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Ichor by 380.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,624 shares of the technology company's stock worth $71,000 after purchasing an additional 2,870 shares in the last quarter. Institutional investors and hedge funds own 94.81% of the company's stock.

About Ichor

Ichor Holdings Ltd. is a global supplier of critical subsystems used in the fabrication of semiconductor devices. The company specializes in the design, engineering and manufacturing of gas delivery systems, vacuum pumps and abatement solutions that manage process gases and by-products in wafer-processing tools. Its modular subsystems are designed to integrate with lithography, etch, deposition and cleaning equipment, helping to ensure precise control of gas flow, pressure and purity throughout the chip-manufacturing cycle.

Founded in the mid-1980s and headquartered in Fremont, California, Ichor has expanded its footprint across Asia, Europe and North America.

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