Ichor (NASDAQ:ICHR) Stock Price Up 8.3% - Here's Why

Key Points

• Ichor shares jumped 8.3% to about $45.19** on Tuesday (intraday high $44.59)**, but trading volume was only ~123,528 shares — an 89% decline from the ~1.11M average session volume.
• Several analysts recently raised ratings and targets (Needham boosted its price objective to $48), yet the consensus remains a "Hold" with an average price target of $39.57.
• Company insiders have been net sellers — including the COO and CFO — with insiders offloading 120,259 shares (~$5.69M) last quarter; insiders own 1.90% of the stock while institutional investors own 94.81%.

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) shares traded up 8.3% on Tuesday . The stock traded as high as $44.59 and last traded at $45.1850. 123,528 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,106,256 shares. The stock had previously closed at $41.73.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ICHR shares. Oppenheimer upped their target price on Ichor from $32.00 to $36.00 and gave the company a "market perform" rating in a research note on Tuesday, February 10th. Zacks Research raised shares of Ichor from a "strong sell" rating to a "hold" rating in a research report on Friday, December 5th. B. Riley Financial raised shares of Ichor from a "neutral" rating to a "buy" rating in a research note on Tuesday, February 10th. Needham & Company LLC boosted their price objective on shares of Ichor from $36.00 to $48.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Finally, Craig Hallum restated a "buy" rating and set a $36.00 price objective on shares of Ichor in a report on Wednesday, January 14th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $39.57.

Ichor Stock Performance

The stock's 50-day moving average is $35.35 and its 200-day moving average is $24.19. 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 has a market cap of $1.55 billion, a price-to-earnings ratio of -29.21 and a beta of 1.76.

Insider Activity at Ichor

In other Ichor news, COO Bruce Ragsdale sold 21,276 shares of the business's stock in a transaction dated Monday, February 23rd. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Greg Swyt sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $51.20, for a total value of $153,600.00. Following the transaction, the chief financial officer directly owned 78,679 shares in the company, valued at $4,028,364.80. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 120,259 shares of company stock valued at $5,689,250 over the last quarter. Company insiders own 1.90% of the company's stock.

Institutional Trading of Ichor

A number of hedge funds have recently made changes to their positions in ICHR. Linden Thomas Advisory Services LLC boosted its stake in shares of Ichor by 0.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 50,702 shares of the technology company's stock valued at $934,000 after purchasing an additional 398 shares during the period. Hantz Financial Services Inc. increased its position in shares of Ichor by 64.8% during the fourth quarter. Hantz Financial Services Inc. now owns 1,500 shares of the technology company's stock worth $28,000 after acquiring an additional 590 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Ichor by 5.7% in the second quarter. The Manufacturers Life Insurance Company now owns 12,447 shares of the technology company's stock worth $244,000 after acquiring an additional 666 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Ichor by 0.6% in the fourth quarter. AQR Capital Management LLC now owns 134,194 shares of the technology company's stock valued at $2,473,000 after purchasing an additional 817 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ichor by 4.6% in 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 purchasing an additional 865 shares during the last quarter. Hedge funds and other 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.

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