Ichor (NASDAQ:ICHR) Shares Up 15.7% Following Insider Buying Activity

Key Points

• Ichor Holdings, Ltd. saw its shares increase by 15.7% to $18.58 following insider purchases, including 25,000 shares bought by Director Iain Mackenzie.
• Despite the recent positive stock movement, analysts have mixed ratings, with Wall Street Zen downgrading Ichor from a "hold" to a "sell" rating.
• Ichor reported earnings of $0.03 per share for the last quarter, falling short of analyst estimates, but its revenue increased by 18.2% year-over-year.

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) shot up 15.7% on Tuesday after an insider bought additional shares in the company. The stock traded as high as $17.90 and last traded at $18.58. 223,333 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 476,138 shares. The stock had previously closed at $16.06.

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

Analyst Ratings Changes

Several research analysts recently weighed in on ICHR shares. Wall Street Zen cut shares of Ichor from a "hold" rating to a "sell" rating in a research report on Saturday. Needham & Company LLC restated a "hold" rating on shares of Ichor in a research report on Tuesday, May 6th. DA Davidson dropped their price objective on shares of Ichor from $45.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Stifel Nicolaus set a $23.00 price objective on Ichor and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, TD Cowen decreased their price objective on Ichor from $28.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. 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. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $23.80.

Ichor Trading Up 16.3%

The company has a market cap of $641.11 million, a P/E ratio of -30.46 and a beta of 1.75. The business has a fifty day moving average price of $19.88 and a 200-day moving average price of $22.26. 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 issued its quarterly earnings data on Monday, August 4th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.11). Ichor had a negative return on equity of 0.77% and a negative net margin of 2.23%. The firm had revenue of $240.29 million for the quarter, compared to the consensus estimate of $234.51 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company's revenue was up 18.2% on a year-over-year basis. On average, analysts forecast that Ichor Holdings, Ltd. will post 1.01 earnings per share for the current year.

Institutional Investors Weigh In On Ichor

A number of large investors have recently added to or reduced their stakes in ICHR. American Century Companies Inc. acquired a new stake in Ichor during the fourth quarter worth approximately $382,000. Wells Fargo & Company MN raised its position in Ichor by 23.4% during the fourth quarter. Wells Fargo & Company MN now owns 19,675 shares of the technology company's stock valued at $634,000 after purchasing an additional 3,731 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Ichor by 27.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 21,578 shares of the technology company's stock valued at $695,000 after purchasing an additional 4,635 shares in the last quarter. Legal & General Group Plc raised its position in Ichor by 2.5% during the fourth quarter. Legal & General Group Plc now owns 94,667 shares of the technology company's stock valued at $3,050,000 after purchasing an additional 2,334 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Ichor during the fourth quarter valued at approximately $8,489,000. Institutional investors and hedge funds 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.

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