DA Davidson Forecasts Ichor’s FY2024 Earnings (NASDAQ:ICHR)

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

Other equities research analysts have also issued research reports about the stock. Oppenheimer began coverage on shares of Ichor in a report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price target for the company. StockNews.com upgraded Ichor from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Needham & Company LLC decreased their price target on Ichor from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. B. Riley restated 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. Finally, TD Cowen lifted their target price on shares of Ichor from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Ichor has an average rating of “Moderate Buy” and an average price target of $42.57.

Ichor Price Performance

Shares of ICHR stock opened at $33.83 on Thursday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -36.38 and a beta of 1.91. 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 twelve month low of $22.26 and a twelve month high of $46.43. The stock has a fifty day simple moving average of $29.00 and a two-hundred day simple moving average of $33.75.

Ichor (NASDAQ:ICHR) last issued its earnings results on Monday, November 4th. 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 business had revenue of $211.14 million for the quarter, compared to analyst estimates of $203.24 million. During the same period last year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Swedbank AB purchased a new stake in Ichor during the 1st quarter worth approximately $67,106,000. Hood River Capital Management LLC purchased a new position in shares of Ichor in the first quarter valued at approximately $36,971,000. Westfield Capital Management Co. LP grew its stake in shares of Ichor by 162.9% in 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 in the last quarter. Vanguard Group Inc. grew its stake in Ichor by 6.6% during the 1st 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 in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Ichor during the second quarter worth about $6,382,000. Institutional investors and hedge funds own 94.81% of the company’s stock.

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.