Ichor (NASDAQ:ICHR) Sees Large Volume Increase - Still a Buy?

Key Points

• Ichor Holdings, Ltd. experienced a significant increase in trading volume, with approximately 928,974 shares traded, representing a 112% rise from the previous session.
• Recent analyst ratings show a consensus "Hold," with price targets varying from $22.00 to $35.00, indicating varied outlooks on the stock's performance.
• For its last quarter, Ichor reported $240.29 million in revenue, exceeding expectations, but posted a loss with earnings per share of $0.03, missing the consensus estimate.

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) shares saw strong trading volume on Thursday . 928,974 shares changed hands during mid-day trading, an increase of 112% from the previous session's volume of 437,633 shares.The stock last traded at $16.34 and had previously closed at $14.56.

Analyst Upgrades and Downgrades

ICHR has been the subject of several analyst reports. DA Davidson lowered their target price on Ichor from $45.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Wall Street Zen downgraded Ichor from a "hold" rating to a "sell" rating in a report on Saturday. B. Riley downgraded Ichor from a "buy" rating to a "neutral" rating and set a $18.00 price objective for the company. in a research note on Tuesday, August 5th. TD Cowen dropped their target price on Ichor from $28.00 to $22.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Ichor in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $23.80.

Ichor Price Performance

The business has a 50 day simple moving average of $19.88 and a 200-day simple moving average of $22.26. The company has a market capitalization of $551.34 million, a P/E ratio of -26.33 and a beta of 1.75. The company has a quick ratio of 1.32, a current ratio of 3.22 and a debt-to-equity ratio of 0.17.

Ichor (NASDAQ:ICHR - Get Free Report) last announced its earnings results on Monday, August 4th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.11). The firm had revenue of $240.29 million for the quarter, compared to the consensus estimate of $234.51 million. Ichor had a negative return on equity of 0.77% and a negative net margin of 2.23%. Ichor's revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. Analysts predict that Ichor Holdings, Ltd. will post 1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ichor news, Director Marc Haugen bought 3,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average price of $17.75 per share, with a total value of $53,250.00. Following the completion of the purchase, the director directly owned 42,960 shares in the company, valued at $762,540. The trade was a 7.51% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Iain Mackenzie acquired 25,000 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were purchased at an average cost of $16.63 per share, for a total transaction of $415,750.00. Following the completion of the purchase, the director directly owned 60,011 shares of the company's stock, valued at approximately $997,982.93. The trade was a 71.41% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Ichor

Several large investors have recently made changes to their positions in ICHR. Cerity Partners LLC increased its holdings in shares of Ichor by 5.9% in the first quarter. Cerity Partners LLC now owns 9,521 shares of the technology company's stock valued at $215,000 after purchasing an additional 533 shares during the period. GAMMA Investing LLC grew its holdings in Ichor by 95.1% during the second quarter. GAMMA Investing LLC now owns 1,619 shares of the technology company's stock worth $32,000 after acquiring an additional 789 shares during the period. Rhumbline Advisers grew its holdings in Ichor by 0.9% in the first quarter. Rhumbline Advisers now owns 99,149 shares of the technology company's stock valued at $2,242,000 after purchasing an additional 839 shares during the last quarter. Quarry LP grew its holdings in Ichor by 54.9% in the fourth quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $78,000 after purchasing an additional 860 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ichor by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,645 shares of the technology company's stock valued at $444,000 after purchasing an additional 865 shares in the last quarter. Institutional investors own 94.81% of the company's stock.

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.