Ichor (NASDAQ:ICHR) Shares Down 5.6% - Here's What Happened

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) dropped 5.6% during trading on Wednesday . The stock traded as low as $21.81 and last traded at $21.69. Approximately 144,300 shares were traded during trading, a decline of 58% from the average daily volume of 340,115 shares. The stock had previously closed at $22.98.

Analysts Set New Price Targets

Several research firms have issued reports on ICHR. B. Riley reiterated a "buy" rating and set a $30.00 price objective (up from $23.00) on shares of Ichor in a research note on Friday, July 11th. Stifel Nicolaus decreased their target price on shares of Ichor from $35.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. TD Cowen cut their price target on shares of Ichor from $38.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Oppenheimer dropped their target price on shares of Ichor from $35.00 to $25.00 and set a "market perform" rating on the stock in a report on Friday, April 11th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Ichor in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $32.67.

Ichor Stock Performance

The stock has a market cap of $776.23 million, a P/E ratio of -47.40 and a beta of 1.80. The company has a fifty day moving average of $19.27 and a 200 day moving average of $23.73. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.09 and a quick ratio of 1.32.

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

Insider Activity at Ichor

In related news, CEO Jeff Andreson purchased 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average cost of $16.86 per share, for a total transaction of $168,600.00. Following the completion of the acquisition, the chief executive officer owned 285,594 shares in the company, valued at $4,815,114.84. This trade represents a 3.63% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ichor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ICHR. GAMMA Investing LLC raised its position in shares of Ichor by 95.1% in the second quarter. GAMMA Investing LLC now owns 1,619 shares of the technology company's stock valued at $32,000 after purchasing an additional 789 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Ichor in the second quarter valued at approximately $37,000. Quarry LP raised its position in shares of Ichor by 54.9% in 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 during the period. Tower Research Capital LLC TRC raised its position in shares of Ichor by 52.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,562 shares of the technology company's stock valued at $147,000 after purchasing an additional 1,578 shares during the period. Finally, Farther Finance Advisors LLC raised its position in shares of Ichor by 99,483.3% in the second quarter. Farther Finance Advisors LLC now owns 5,975 shares of the technology company's stock valued at $117,000 after purchasing an additional 5,969 shares during the period. Institutional investors own 94.81% of the company's stock.

Ichor Company Profile

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.