TD Cowen Has Lowered Expectations for Ichor (NASDAQ:ICHR) Stock Price

Ichor (NASDAQ:ICHR - Get Free Report) had its price objective reduced by research analysts at TD Cowen from $38.00 to $28.00 in a research note issued on Tuesday, Marketbeat.com reports. The firm currently has a "buy" rating on the technology company's stock. TD Cowen's price target would indicate a potential upside of 59.86% from the company's current price.

Other analysts have also recently issued reports about the stock. Oppenheimer decreased their price target on shares of Ichor from $35.00 to $25.00 and set a "market perform" rating on the stock in a research note on Friday, April 11th. StockNews.com downgraded shares of Ichor from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Ichor in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $34.00.

Ichor Price Performance

Shares of ICHR traded up $0.80 during midday trading on Tuesday, reaching $17.52. The stock had a trading volume of 87,174 shares, compared to its average volume of 315,978. The firm's 50 day moving average price is $21.88 and its 200-day moving average price is $28.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.34 and a quick ratio of 1.49. The company has a market capitalization of $597.49 million, a P/E ratio of -26.95 and a beta of 1.83. Ichor has a 52 week low of $15.38 and a 52 week high of $42.70.

Ichor (NASDAQ:ICHR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The technology company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.14). Ichor had a negative return on equity of 1.38% and a negative net margin of 2.45%. The firm had revenue of $244.47 million during the quarter, compared to analyst estimates of $244.95 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The company's quarterly revenue was up 21.4% on a year-over-year basis. On average, analysts forecast that Ichor will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ichor news, CEO Jeff Andreson acquired 10,000 shares of Ichor stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average cost of $16.86 per share, for a total transaction of $168,600.00. Following the purchase, the chief executive officer now owns 285,594 shares of the company's stock, valued at approximately $4,815,114.84. This represents a 3.63 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Ichor by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,724,058 shares of the technology company's stock worth $55,547,000 after purchasing an additional 111,337 shares during the period. Royce & Associates LP raised its position in shares of Ichor by 7.9% in the 1st quarter. Royce & Associates LP now owns 932,925 shares of the technology company's stock worth $21,093,000 after purchasing an additional 68,680 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Ichor by 18.7% during the fourth quarter. Nuveen Asset Management LLC now owns 777,289 shares of the technology company's stock valued at $25,044,000 after buying an additional 122,280 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ichor by 73.6% in the fourth quarter. JPMorgan Chase & Co. now owns 590,630 shares of the technology company's stock worth $19,030,000 after purchasing an additional 250,383 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Ichor by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 502,293 shares of the technology company's stock worth $16,184,000 after acquiring an additional 29,536 shares during the period. 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.