Ichor (NASDAQ:ICHR) Reaches New 12-Month Low Following Weak Earnings

Key Points

• Ichor Holdings (NASDAQ:ICHR) stock hit a new 52-week low of $13.12 following a downgrade from Oppenheimer, which reduced its price target from $25.00 to $21.00.
• Multiple brokerages have downgraded Ichor's stock, with Wall Street Zen lowering it to a sell rating and B. Riley changing it to a neutral rating with a price target of $18.00.
• CEO Jeff Andreson purchased 10,000 shares at $16.86 each, increasing his ownership in the company by 3.63%, while institutional investors own approximately 94.81% of the company’s stock.

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) shares reached a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $13.12 and last traded at $14.06, with a volume of 4814733 shares. The stock had previously closed at $20.14.

The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.11). The firm had revenue of $240.29 million during 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%. The business's revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.05 EPS.

Wall Street Analysts Forecast Growth

ICHR has been the topic of a number of research analyst reports. Stifel Nicolaus set a $23.00 target price on Ichor and gave the stock a "buy" rating in a research note on Tuesday. Oppenheimer set a $21.00 price objective on Ichor and gave the stock a "market perform" rating in a research report on Tuesday. TD Cowen decreased their target price on Ichor from $28.00 to $22.00 and set a "buy" rating for the company in a research report on Tuesday. B. Riley cut Ichor from a "buy" rating to a "neutral" rating and set a $18.00 target price on the stock. in a research note on Tuesday. Finally, Needham & Company LLC restated a "hold" rating on shares of Ichor in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $23.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC lifted its holdings in Ichor by 5.9% during 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 last quarter. GAMMA Investing LLC lifted its stake in shares of Ichor by 95.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,619 shares of the technology company's stock valued at $32,000 after buying an additional 789 shares in the last quarter. Rhumbline Advisers boosted its holdings in Ichor by 0.9% in the 1st quarter. Rhumbline Advisers now owns 99,149 shares of the technology company's stock worth $2,242,000 after buying an additional 839 shares during the period. Quarry LP grew its stake in Ichor by 54.9% in the 4th quarter. Quarry LP now owns 2,426 shares of the technology company's stock valued at $78,000 after buying an additional 860 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ichor by 4.6% during 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 acquiring an additional 865 shares during the period. Institutional investors own 94.81% of the company's stock.

Ichor Trading Up 4.7%

The firm has a 50-day simple moving average of $19.88 and a 200-day simple moving average of $22.45. The company has a quick ratio of 1.32, a current ratio of 3.22 and a debt-to-equity ratio of 0.17. The stock has a market cap of $598.72 million, a PE ratio of -28.59 and a beta of 1.75.

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.