Ichor (NASDAQ:ICHR) Trading 9% Higher - Here's What Happened

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report)'s stock price rose 9% during mid-day trading on Tuesday . The company traded as high as $21.46 and last traded at $21.41. Approximately 381,940 shares changed hands during trading, an increase of 14% from the average daily volume of 334,691 shares. The stock had previously closed at $19.64.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ICHR shares. DA Davidson lowered their price objective on shares of Ichor from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. TD Cowen decreased their price target on shares of Ichor from $38.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of Ichor from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Stifel Nicolaus cut their price objective on Ichor from $35.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Ichor in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Ichor has an average rating of "Hold" and an average target price of $34.00.

Ichor Price Performance

The firm has a market capitalization of $800.46 million, a price-to-earnings ratio of -48.88 and a beta of 1.80. The stock's fifty day moving average price is $18.39 and its two-hundred day moving average price is $24.34. The company has a current ratio of 3.09, a quick ratio of 1.32 and a debt-to-equity ratio of 0.17.

Ichor (NASDAQ:ICHR - Get Free Report) last posted its earnings results on Monday, May 5th. The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.14). The business had revenue of $244.47 million during the quarter, compared to analysts' expectations of $244.95 million. Ichor had a negative net margin of 1.84% and a negative return on equity of 0.63%. The business's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. Equities research analysts expect that Ichor Holdings, Ltd. will post 1.01 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jeff Andreson acquired 10,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $16.86 per share, for a total transaction of $168,600.00. Following the completion of the purchase, the chief executive officer directly owned 285,594 shares of the company's stock, valued at approximately $4,815,114.84. The trade was a 3.63% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Ichor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in Ichor by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,724,058 shares of the technology company's stock worth $55,547,000 after buying an additional 111,337 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Ichor by 42.6% in the first quarter. Wellington Management Group LLP now owns 1,663,070 shares of the technology company's stock valued at $37,602,000 after acquiring an additional 496,866 shares during the period. American Century Companies Inc. grew its position in shares of Ichor by 10,313.1% during the first quarter. American Century Companies Inc. now owns 1,233,437 shares of the technology company's stock worth $27,888,000 after acquiring an additional 1,221,592 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Ichor by 6.1% in the 1st quarter. Invesco Ltd. now owns 1,168,756 shares of the technology company's stock valued at $26,426,000 after acquiring an additional 66,942 shares during the period. Finally, Royce & Associates LP increased its holdings in shares of Ichor by 7.9% in the 1st quarter. Royce & Associates LP now owns 932,925 shares of the technology company's stock valued at $21,093,000 after acquiring an additional 68,680 shares during the period. 94.81% of the stock is owned by hedge funds and other institutional investors.

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.