Short Interest in Ichor Holdings, Ltd. (NASDAQ:ICHR) Decreases By 16.0%

Key Points

• Short interest decreased 16.0% in March to 1,783,716 shares (about 5.2% of shares sold short), leaving a short-interest ratio of 2.5 days based on average daily volume.
• Analysts have been raising targets and ratings recently; Ichor holds a consensus "Moderate Buy" with an average price target of $46.43 and notable upgrades to $53 and $55 from DA Davidson and Stifel.
• Company insiders have been net sellers (120,259 shares worth $5.69M sold in the last 90 days), even as institutional ownership remains very high (94.81%) and the stock recently traded up to $65.75.

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 1,783,716 shares, a decrease of 16.0% from the March 15th total of 2,124,299 shares. Approximately 5.2% of the company's shares are sold short. Based on an average daily trading volume, of 704,996 shares, the short-interest ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

ICHR has been the topic of a number of research analyst reports. DA Davidson boosted their price target on Ichor from $30.00 to $53.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Wall Street Zen upgraded Ichor from a "strong sell" rating to a "hold" rating in a report on Sunday, February 15th. Craig Hallum restated a "buy" rating and set a $36.00 price target on shares of Ichor in a report on Wednesday, January 14th. Stifel Nicolaus upgraded Ichor from a "hold" rating to a "buy" rating and boosted their price target for the company from $30.00 to $55.00 in a report on Tuesday, March 17th. Finally, Oppenheimer boosted their price target on Ichor from $32.00 to $36.00 and gave the company a "market perform" rating in a report on Tuesday, February 10th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Ichor has a consensus rating of "Moderate Buy" and an average price target of $46.43.

Insider Buying and Selling at Ichor

In other news, CFO Greg Swyt sold 3,000 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $51.20, for a total transaction of $153,600.00. Following the completion of the sale, the chief financial officer directly owned 78,679 shares in the company, valued at approximately $4,028,364.80. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marc Haugen sold 19,875 shares of the firm's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $49.71, for a total value of $987,986.25. Following the completion of the sale, the director directly owned 26,085 shares in the company, valued at $1,296,685.35. The trade was a 43.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 120,259 shares of company stock worth $5,689,250 over the last ninety days. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ichor

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Ichor by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 3,333,902 shares of the technology company's stock valued at $61,444,000 after purchasing an additional 148,993 shares in the last quarter. Invesco Ltd. boosted its position in shares of Ichor by 141.2% during the fourth quarter. Invesco Ltd. now owns 3,023,882 shares of the technology company's stock valued at $55,730,000 after purchasing an additional 1,770,425 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Ichor by 15.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,957,656 shares of the technology company's stock valued at $36,080,000 after purchasing an additional 259,417 shares in the last quarter. Royce & Associates LP lifted its position in Ichor by 48.5% during the 4th quarter. Royce & Associates LP now owns 1,449,082 shares of the technology company's stock valued at $26,707,000 after acquiring an additional 473,440 shares during the period. Finally, State Street Corp lifted its position in Ichor by 0.9% during the 4th quarter. State Street Corp now owns 1,285,419 shares of the technology company's stock valued at $23,690,000 after acquiring an additional 11,645 shares during the period. 94.81% of the stock is currently owned by institutional investors.

Ichor Stock Up 3.3%

Ichor stock traded up $2.07 during trading hours on Friday, hitting $65.75. 582,046 shares of the stock traded hands, compared to its average volume of 661,136. Ichor has a one year low of $13.12 and a one year high of $66.79. The firm's 50-day moving average price is $48.74 and its two-hundred day moving average price is $30.77. 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 company has a market cap of $2.28 billion, a PE ratio of -42.69 and a beta of 1.67.

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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