Ichor (NASDAQ:ICHR) Shares Gap Up Following Strong Earnings

Ichor Holdings, Ltd. (NASDAQ:ICHR) shares gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $27.14, but opened at $31.50. Ichor shares last traded at $30.86, with a volume of 106,046 shares changing hands.

The technology company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.18%. The company had revenue of $211.14 million for the quarter, compared to analysts’ expectations of $203.24 million. During the same quarter in the previous year, the firm posted ($0.09) EPS. Ichor’s revenue was up 7.3% on a year-over-year basis.

Analysts Set New Price Targets

Several research firms have recently weighed in on ICHR. B. Riley reiterated a “buy” rating and set a $38.00 price target (up previously from $36.00) on shares of Ichor in a research note on Tuesday. DA Davidson started coverage on shares of Ichor in a research note on Thursday, September 26th. They issued a “buy” rating and a $50.00 target price for the company. Needham & Company LLC lowered their price target on shares of Ichor from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. TD Cowen raised their price objective on shares of Ichor from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Oppenheimer initiated coverage on shares of Ichor in a report on Wednesday, September 25th. They set a “market perform” rating and a $35.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ichor currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.57.

Institutional Trading of Ichor

Several institutional investors and hedge funds have recently bought and sold shares of ICHR. Quarry LP grew its position in shares of Ichor by 99.5% during the 2nd quarter. Quarry LP now owns 868 shares of the technology company’s stock valued at $33,000 after purchasing an additional 433 shares in the last quarter. GAMMA Investing LLC grew its position in Ichor by 136.2% during the third quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock worth $34,000 after buying an additional 625 shares in the last quarter. Signaturefd LLC grew its position in Ichor by 214.6% during the third quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock worth $40,000 after buying an additional 854 shares in the last quarter. CWM LLC increased its stake in Ichor by 50.5% in the 2nd quarter. CWM LLC now owns 1,540 shares of the technology company’s stock worth $59,000 after acquiring an additional 517 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Ichor in the 1st quarter valued at about $225,000. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

Ichor Stock Up 3.2 %

The company has a current ratio of 4.27, a quick ratio of 1.91 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $28.94 and a 200-day moving average price of $33.75.

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.