What is DA Davidson’s Forecast for Ichor FY2024 Earnings?

Ichor Holdings, Ltd. (NASDAQ:ICHR) – Equities research analysts at DA Davidson lifted their FY2024 earnings estimates for shares of Ichor in a research report issued to clients and investors on Tuesday, November 5th. DA Davidson analyst T. Diffely now anticipates that the technology company will post earnings per share of ($0.13) for the year, up from their prior forecast of ($0.14). DA Davidson has a “Strong-Buy” rating on the stock. The consensus estimate for Ichor’s current full-year earnings is ($0.17) per share.

Ichor (NASDAQ:ICHR) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $203.24 million. During the same period in the previous year, the firm posted ($0.09) EPS. Ichor’s revenue for the quarter was up 7.3% compared to the same quarter last year.

Other analysts also recently issued research reports about the company. Needham & Company LLC reduced their price objective on Ichor from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Oppenheimer assumed coverage on shares of Ichor in a research report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price target on the stock. StockNews.com upgraded shares of Ichor from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. B. Riley restated a “buy” rating and issued a $38.00 target price (up from $36.00) on shares of Ichor in a report on Tuesday. Finally, TD Cowen upped their target price on shares of Ichor from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.57.

Ichor Trading Down 0.4 %

Shares of ICHR stock opened at $33.68 on Thursday. 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 market capitalization of $1.13 billion, a price-to-earnings ratio of -36.21 and a beta of 1.91. Ichor has a 12-month low of $22.26 and a 12-month high of $46.43. The stock’s 50-day moving average price is $29.06 and its 200-day moving average price is $33.73.

Institutional Trading of Ichor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Ichor by 6.6% during the first quarter. Vanguard Group Inc. now owns 2,841,622 shares of the technology company’s stock valued at $109,743,000 after buying an additional 176,970 shares during the last quarter. Mutual of America Capital Management LLC purchased a new position in Ichor during the 1st quarter valued at $1,353,000. Epoch Investment Partners Inc. grew its holdings in shares of Ichor by 33.0% in the first quarter. Epoch Investment Partners Inc. now owns 265,246 shares of the technology company’s stock worth $10,244,000 after purchasing an additional 65,862 shares during the last quarter. Swedbank AB bought a new position in Ichor in the 1st quarter worth about $67,106,000. Finally, Westfield Capital Management Co. LP increased its position in shares of Ichor by 162.9% during the first quarter. Westfield Capital Management Co. LP now owns 335,867 shares of the technology company’s stock worth $12,971,000 after acquiring an additional 208,117 shares during the period. 94.81% of the stock is owned by hedge funds and other institutional investors.

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.