Ichor (NASDAQ:ICHR) Shares Down 6.3% - Should You Sell?

Key Points

• Ichor Holdings, Ltd. shares fell 6.3% to a last traded price of $16.34, with trading volume significantly up at approximately 978,568 shares.
• Recent analyst reports show a mix of ratings with one sell, three buy, and three hold ratings and a decreasing average price target now at $23.80.
• The company's latest earnings report indicated a miss in earnings per share, reporting $0.03 compared to expectations of $0.14, despite an 18.2% increase in revenue year-over-year.

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) were down 6.3% during trading on Monday . The stock traded as low as $16.41 and last traded at $16.34. Approximately 978,568 shares traded hands during mid-day trading, an increase of 106% from the average daily volume of 474,460 shares. The stock had previously closed at $17.44.

Wall Street Analysts Forecast Growth

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

Ichor Trading Down 7.9%

The firm has a market cap of $551.34 million, a PE 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. The company's 50 day moving average price is $19.88 and its two-hundred day moving average price is $22.35.

Ichor (NASDAQ:ICHR - Get Free Report) last announced its earnings results on Monday, August 4th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.11). Ichor had a negative net margin of 2.23% and a negative return on equity of 0.77%. The firm had revenue of $240.29 million during the quarter, compared to analysts' expectations of $234.51 million. During the same period in the prior year, the company posted $0.05 EPS. The company's revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Ichor Holdings, Ltd. will post 1.01 EPS for the current year.

Institutional Inflows and Outflows

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.