Ichor (NASDAQ:ICHR) Shares Gap Up - Here's Why

Key Points

• Gapped up: Ichor (ICHR) opened pre-market at $68.11 after closing at $64.42 and last traded around $67.82, up about 3.1% on ~370,839 shares.
• Analysts are broadly positive with a consensus rating of "Moderate Buy" (six Buys, two Holds, one Sell) and a consensus price target of $49.43, with several firms recently raising targets (DA Davidson to $53, Needham to $48).
• Insider selling: Insiders have sold 120,259 shares worth roughly $5.69M over the past 90 days (including the COO and a director), leaving insiders with 1.70% ownership while institutions hold 94.81%.

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $64.42, but opened at $68.11. Ichor shares last traded at $67.8240, with a volume of 370,839 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ICHR. B. Riley Financial reiterated a "buy" rating on shares of Ichor in a research report on Monday, April 20th. TD Cowen reiterated a "buy" rating on shares of Ichor in a research report on Tuesday, February 10th. DA Davidson lifted their target price on shares of Ichor from $30.00 to $53.00 and gave the stock a "buy" rating in a research report on Wednesday, February 11th. Craig Hallum restated a "buy" rating and issued a $36.00 price target on shares of Ichor in a research report on Wednesday, January 14th. Finally, Needham & Company LLC boosted their price target on shares of Ichor from $36.00 to $48.00 and gave the stock a "buy" rating in a research report on Tuesday, February 10th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.43.

Ichor Stock Up 3.1%

The company has a current ratio of 3.16, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18. The stock's 50-day moving average price is $52.61 and its 200-day moving average price is $33.91. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -43.12 and a beta of 1.87.

Insider Activity at Ichor

In related news, COO Bruce Ragsdale sold 21,276 shares of the business's stock in a transaction 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 transaction, the chief operating officer owned 97,661 shares in the company, valued at $4,849,845.26. The trade was a 17.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas M. Rohrs sold 53,908 shares of the business's stock in a transaction on Thursday, February 12th. The shares were 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 in the company, valued at $2,411,531.52. The trade was a 50.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 120,259 shares of company stock worth $5,689,250 over the last ninety days. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Ichor

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Ichor during the 1st quarter valued at $397,000. Counterpoint Mutual Funds LLC bought a new stake in Ichor during the 1st quarter valued at $892,000. Y Intercept Hong Kong Ltd bought a new stake in Ichor during the 1st quarter valued at $1,216,000. Elevation Point Wealth Partners LLC bought a new stake in Ichor during the 1st quarter valued at $269,000. Finally, Strs Ohio bought a new stake in Ichor during the 1st quarter valued at $242,000. Institutional investors own 94.81% of the company's stock.

Ichor Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.