Ichor (NASDAQ:ICHR) Shares Climb 10% - Here's What Happened

Key Points

• Ichor shares rose about 10% on Friday, reaching $31.80, although trading volume was 86% below its average.
• The company reported quarterly EPS of $0.63, beating the $0.45 consensus estimate; revenue grew 37.4% year over year to $328.7 million, slightly below expectations.
• Analyst views were mixed, but the consensus rating was Moderate Buy, with an average price target of $70.89. Several firms recently cut their targets, while others maintained or initiated Buy ratings.

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) traded up 10% during trading on Friday. The stock traded as high as $31.80 and last traded at $30.8260. 134,552 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 987,417 shares. The stock had previously closed at $28.03.

Analysts Set New Price Targets

ICHR has been the subject of several analyst reports. Freedom Broker began coverage on shares of Ichor in a research note on Friday, October 9th. They issued a "buy" rating and a $82.00 target price for the company. Oppenheimer upped their price target on shares of Ichor from $60.00 to $80.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 4th. B. Riley Financial cut their price target on shares of Ichor from $85.00 to $70.00 and set a "buy" rating for the company in a research note on Tuesday. TD Cowen cut their price target on shares of Ichor from $100.00 to $55.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Needham & Company LLC decreased their price objective on shares of Ichor from $88.00 to $55.00 and set a "buy" rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.89.

Ichor Stock Up 9.8%

The company has a quick ratio of 2.07, a current ratio of 3.56 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $51.14 and a 200-day simple moving average of $60.58. The stock has a market cap of $1.16 billion, a P/E ratio of 616.44 and a beta of 1.88.

Ichor (NASDAQ:ICHR - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.18. Ichor had a return on equity of 3.54% and a net margin of 0.32%. The company had revenue of $328.70 million during the quarter, compared to analysts' expectations of $330.15 million. During the same period last year, the firm posted $0.07 earnings per share. The business's revenue was up 37.4% on a year-over-year basis. On average, equities research analysts forecast that Ichor Holdings, Ltd. will post 1.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ichor news, Director Iain MacKenzie sold 20,000 shares of Ichor stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $50.66, for a total transaction of $1,013,200.00. Following the completion of the transaction, the director directly owned 102,427 shares of the company's stock, valued at $5,188,951.82. The trade was a 16.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Bruce Ragsdale sold 2,149 shares of the company's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $65.47, for a total transaction of $140,695.03. Following the completion of the transaction, the chief operating officer owned 88,595 shares in the company, valued at approximately $5,800,314.65. This represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 46,740 shares of company stock worth $2,602,960 in the last quarter. Insiders own 1.70% of the company's stock.

Institutional Trading of Ichor

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in Ichor by 54.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,108,844 shares of the technology company's stock valued at $124,501,000 after buying an additional 390,017 shares in the last quarter. Hsbc Holdings PLC bought a new position in Ichor during the 4th quarter worth $1,101,000. Lombard Odier Asset Management Europe Ltd bought a new position in Ichor during the 1st quarter worth $2,684,000. Assenagon Asset Management S.A. bought a new position in Ichor during the 2nd quarter worth $5,165,000. Finally, Arlington Capital Management INC acquired a new stake in shares of Ichor during the third quarter worth $2,741,000. Institutional investors and hedge funds own 94.81% of the company's stock.

About Ichor

Ichor Holdings, Ltd. NASDAQ: ICHR is a supplier to the semiconductor equipment industry. The company designs, engineers and manufactures critical fluid-delivery subsystems used in semiconductor fabrication equipment, including systems that deliver and control gases and chemicals during the wafer-manufacturing process.

Ichor's products and services include gas and chemical delivery systems, precision-machined components, weldments, fluid-management assemblies and related engineering and manufacturing services.

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