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Ichor (NASDAQ:ICHR) Reaches New 12-Month Low After Earnings Miss

Ichor logo with Computer and Technology background

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) hit a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $15.38 and last traded at $16.51, with a volume of 196113 shares traded. The stock had previously closed at $20.84.

The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.14). The firm had revenue of $244.47 million during the quarter, compared to analyst estimates of $244.95 million. Ichor had a negative net margin of 2.45% and a negative return on equity of 1.38%. The business's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share.

Analyst Ratings Changes

A number of research analysts recently weighed in on ICHR shares. StockNews.com lowered Ichor from a "hold" rating to a "sell" rating in a report on Thursday, April 10th. Stifel Nicolaus lowered their price target on shares of Ichor from $35.00 to $28.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. DA Davidson reduced their price objective on shares of Ichor from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Needham & Company LLC restated a "hold" rating on shares of Ichor in a research report on Tuesday, May 6th. Finally, Oppenheimer reduced their price target on shares of Ichor from $35.00 to $25.00 and set a "market perform" rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $34.00.

Read Our Latest Analysis on ICHR

Insider Activity

In related news, CEO Jeff Andreson bought 10,000 shares of Ichor stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $16.86 per share, with a total value of $168,600.00. Following the purchase, the chief executive officer now owns 285,594 shares in the company, valued at $4,815,114.84. This represents a 3.63 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.90% of the company's stock.

Institutional Trading of Ichor

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in Ichor by 52.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,562 shares of the technology company's stock valued at $147,000 after purchasing an additional 1,578 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Ichor by 157.9% in the third quarter. JPMorgan Chase & Co. now owns 340,247 shares of the technology company's stock valued at $10,823,000 after buying an additional 208,328 shares during the last quarter. Barclays PLC lifted its stake in shares of Ichor by 377.6% during the third quarter. Barclays PLC now owns 56,787 shares of the technology company's stock valued at $1,808,000 after buying an additional 44,897 shares during the period. Hodges Capital Management Inc. boosted its position in Ichor by 52.0% during the fourth quarter. Hodges Capital Management Inc. now owns 217,125 shares of the technology company's stock worth $6,996,000 after acquiring an additional 74,255 shares during the last quarter. Finally, Swiss National Bank raised its holdings in Ichor by 1.4% in the 4th quarter. Swiss National Bank now owns 66,200 shares of the technology company's stock valued at $2,133,000 after acquiring an additional 900 shares during the last quarter. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

Ichor Trading Up 1.6 %

The business has a 50 day simple moving average of $21.65 and a two-hundred day simple moving average of $27.94. The company has a current ratio of 3.34, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market cap of $579.58 million, a PE ratio of -26.14 and a beta of 1.83.

About Ichor

(Get Free Report)

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.

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