Ichor (NASDAQ:ICHR) Shares Gap Up - Still a Buy?

Key Points

• Ichor Holdings, Ltd. shares gapped up from $16.66 to $18.50 before closing at $17.74, with a trading volume of 851,348 shares.
• Analysts have mixed ratings for Ichor, with one rating it as a "sell," while three analysts maintain "hold" ratings and three give it "buy" ratings, reflecting an average rating of "Hold" and a consensus price target of $23.80.
• The company's recent earnings report showed a revenue increase of 18.2% year-over-year, but it missed EPS estimates, reporting $0.03 against a consensus of $0.14.

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $16.66, but opened at $18.50. Ichor shares last traded at $17.74, with a volume of 851,348 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ICHR shares. Wall Street Zen lowered shares of Ichor from a "hold" rating to a "sell" rating in a research report on Thursday, April 10th. Needham & Company LLC reiterated a "hold" rating on shares of Ichor in a research note on Tuesday, May 6th. B. Riley lowered Ichor from a "buy" rating to a "neutral" rating and set a $18.00 target price for the company. in a research note on Tuesday. Stifel Nicolaus set a $23.00 price objective on shares of Ichor and gave the stock a "buy" rating in a report on Tuesday. Finally, TD Cowen decreased their price target on shares of Ichor from $28.00 to $22.00 and set a "buy" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Ichor has an average rating of "Hold" and a consensus price target of $23.80.

Ichor Stock Up 4.6%

The company has a current ratio of 3.22, a quick ratio of 1.32 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $19.85 and a 200-day moving average of $22.54. The firm has a market cap of $598.10 million, a price-to-earnings ratio of -28.59 and a beta of 1.75.

Ichor (NASDAQ:ICHR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $240.29 million for the quarter, compared to the consensus estimate of $234.51 million. During the same period last year, the firm posted $0.05 EPS. The business's quarterly revenue was up 18.2% on a year-over-year basis. As a group, sell-side analysts forecast that Ichor Holdings, Ltd. will post 1.01 EPS for the current fiscal year.

Institutional Trading of Ichor

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Ichor by 95.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,619 shares of the technology company's stock valued at $32,000 after acquiring an additional 789 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Ichor by 1,060.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,753 shares of the technology company's stock valued at $34,000 after purchasing an additional 1,602 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Ichor during the 2nd quarter worth about $37,000. Quarry LP grew its position in 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 purchasing an additional 860 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Ichor by 105.6% in the second quarter. CWM LLC now owns 4,532 shares of the technology company's stock worth $89,000 after acquiring an additional 2,328 shares during the last quarter. 94.81% of the stock is owned by institutional investors and hedge funds.

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.

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