Ichor (NASDAQ:ICHR) Rating Lowered to Hold at Needham & Company LLC

Needham & Company LLC downgraded shares of Ichor (NASDAQ:ICHR) from a buy rating to a hold rating in a research note released on Monday morning, Marketbeat Ratings reports.

Several other brokerages have also recently weighed in on ICHR. Oppenheimer started coverage on shares of Ichor in a research note on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price objective for the company. TD Cowen raised their target price on shares of Ichor from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. DA Davidson initiated coverage on Ichor in a research note on Thursday, September 26th. They issued a “buy” rating and a $50.00 price target for the company. Finally, B. Riley restated a “buy” rating and set a $38.00 price objective (up previously from $36.00) on shares of Ichor in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ichor has a consensus rating of “Moderate Buy” and a consensus target price of $42.57.

Ichor Price Performance

Ichor stock opened at $30.56 on Monday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -32.86 and a beta of 1.92. The company has a current ratio of 3.64, a quick ratio of 1.69 and a debt-to-equity ratio of 0.18. Ichor has a 12 month low of $26.40 and a 12 month high of $46.43. The stock’s 50 day moving average is $32.33 and its 200-day moving average is $31.81.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. The firm had revenue of $211.14 million for the quarter, compared to analyst estimates of $203.24 million. During the same period in the prior year, the firm posted ($0.09) EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts expect that Ichor will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ICHR. Harbor Capital Advisors Inc. boosted its holdings in shares of Ichor by 24.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 49,351 shares of the technology company’s stock valued at $1,590,000 after purchasing an additional 9,709 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Ichor by 157.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 340,247 shares of the technology company’s stock worth $10,823,000 after buying an additional 208,328 shares during the last quarter. Meros Investment Management LP boosted its stake in Ichor by 85.4% in the third quarter. Meros Investment Management LP now owns 197,119 shares of the technology company’s stock valued at $6,270,000 after buying an additional 90,791 shares in the last quarter. Geode Capital Management LLC grew its position in Ichor by 3.6% in the third quarter. Geode Capital Management LLC now owns 795,794 shares of the technology company’s stock valued at $25,319,000 after acquiring an additional 27,540 shares during the last quarter. Finally, Barclays PLC raised its stake in Ichor by 377.6% during the third quarter. Barclays PLC now owns 56,787 shares of the technology company’s stock worth $1,808,000 after acquiring an additional 44,897 shares in the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.

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.