Ichor (NASDAQ:ICHR) Reaches New 52-Week High on Analyst Upgrade

Key Points

• Ichor reached a new 52-week high after B. Riley Financial raised its price target from $52 to $75 and reaffirmed a buy rating, with the stock trading as high as $61.16 and last at $60.47 on heavy volume.
• Analyst sentiment is broadly positive but mixed — six Buy, two Hold and one Sell — giving a consensus rating of “Moderate Buy” and an average target price of $46.43, well below B. Riley’s new target.
• Company insiders have been net sellers recently: executives sold a total of 120,259 shares worth about $5.69 million in the last quarter, while institutional investors own roughly 94.81% of the stock.

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday after B. Riley Financial raised their price target on the stock from $52.00 to $75.00. B. Riley Financial currently has a buy rating on the stock. Ichor traded as high as $61.16 and last traded at $60.47, with a volume of 770510 shares changing hands. The stock had previously closed at $57.50.

A number of other research analysts have also issued reports on ICHR. Stifel Nicolaus upgraded shares of Ichor from a "hold" rating to a "buy" rating and raised their price objective for the company from $30.00 to $55.00 in a report on Tuesday, March 17th. Wall Street Zen upgraded shares of Ichor from a "strong sell" rating to a "hold" rating in a report on Sunday, February 15th. Craig Hallum reiterated a "buy" rating and issued a $36.00 price objective on shares of Ichor in a report on Wednesday, January 14th. Oppenheimer raised their price objective on shares of Ichor from $32.00 to $36.00 and gave the company a "market perform" rating in a report on Tuesday, February 10th. Finally, TD Cowen reiterated a "buy" rating on shares of Ichor in a report on Tuesday, February 10th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.43.

Insider Activity

In other Ichor news, COO Bruce Ragsdale sold 21,276 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $49.66, for a total transaction of $1,056,566.16. Following the completion of the transaction, the chief operating officer owned 97,661 shares in the company, valued at approximately $4,849,845.26. This trade represents a 17.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas M. Rohrs sold 53,908 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $45.48, for a total transaction of $2,451,735.84. Following the transaction, the director owned 53,024 shares of the company's stock, valued at approximately $2,411,531.52. The trade was a 50.41% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 120,259 shares of company stock worth $5,689,250. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC bought a new position in Ichor during the 3rd quarter worth approximately $3,877,000. Quantbot Technologies LP raised its holdings in Ichor by 229.7% during the 3rd quarter. Quantbot Technologies LP now owns 107,999 shares of the technology company's stock worth $1,892,000 after purchasing an additional 75,240 shares during the last quarter. Harvey Partners LLC bought a new position in Ichor during the 3rd quarter worth approximately $3,189,000. Cambiar Investors LLC bought a new position in Ichor during the 4th quarter worth approximately $1,595,000. Finally, SG Americas Securities LLC raised its holdings in Ichor by 295.5% during the 4th quarter. SG Americas Securities LLC now owns 26,073 shares of the technology company's stock worth $481,000 after purchasing an additional 19,481 shares during the last quarter. Institutional investors own 94.81% of the company's stock.

Ichor Trading Up 5.2%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.38 and a current ratio of 3.16. The firm's fifty day simple moving average is $45.96 and its 200-day simple moving average is $29.63. The stock has a market cap of $2.10 billion, a P/E ratio of -39.27 and a beta of 1.67.

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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