Ichor (NASDAQ:ICHR) Upgraded to “Strong-Buy” by DA Davidson

DA Davidson upgraded shares of Ichor (NASDAQ:ICHR) to a strong-buy rating in a research note released on Wednesday, Zacks.com reports.

Several other equities analysts have also commented on ICHR. TD Cowen lowered their price objective on Ichor from $48.00 to $35.00 and set a buy rating for the company in a research report on Wednesday, August 7th. Oppenheimer initiated coverage on shares of Ichor in a research report on Wednesday. They set a market perform rating and a $35.00 price target for the company. StockNews.com upgraded shares of Ichor from a sell rating to a hold rating in a report on Wednesday, August 14th. Finally, Needham & Company LLC decreased their target price on shares of Ichor from $44.00 to $40.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Two investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $43.29.

Ichor Stock Up 14.3 %

Shares of Ichor stock opened at $31.80 on Wednesday. The company has a current ratio of 4.27, a quick ratio of 1.91 and a debt-to-equity ratio of 0.18. Ichor has a 12-month low of $22.26 and a 12-month high of $46.43. The company has a market cap of $1.06 billion, a P/E ratio of -17.97 and a beta of 1.91. The company’s fifty day simple moving average is $30.45 and its two-hundred day simple moving average is $35.64.

Ichor (NASDAQ:ICHR) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $203.23 million during the quarter, compared to the consensus estimate of $197.75 million. Ichor had a negative net margin of 4.53% and a negative return on equity of 2.56%. Research analysts anticipate that Ichor will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Ichor by 6.6% in the first quarter. Vanguard Group Inc. now owns 2,841,622 shares of the technology company’s stock worth $109,743,000 after purchasing an additional 176,970 shares during the last quarter. Swedbank AB purchased a new position in shares of Ichor in the 1st quarter worth $67,106,000. Hood River Capital Management LLC grew its holdings in shares of Ichor by 15.8% in the second quarter. Hood River Capital Management LLC now owns 1,108,227 shares of the technology company’s stock worth $42,722,000 after acquiring an additional 150,933 shares during the period. First Eagle Investment Management LLC increased its position in Ichor by 5.6% during the second quarter. First Eagle Investment Management LLC now owns 373,948 shares of the technology company’s stock valued at $14,416,000 after acquiring an additional 19,850 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in Ichor by 162.9% in the first quarter. Westfield Capital Management Co. LP now owns 335,867 shares of the technology company’s stock valued at $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.