Principal Financial Group Inc. Sells 6,376 Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR)

Principal Financial Group Inc. lowered its position in Ichor Holdings, Ltd. (NASDAQ:ICHR) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,034 shares of the technology company’s stock after selling 6,376 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Ichor worth $5,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP raised its stake in Ichor by 99.5% in the 2nd quarter. Quarry LP now owns 868 shares of the technology company’s stock valued at $33,000 after acquiring an additional 433 shares during the period. GAMMA Investing LLC increased its holdings in shares of Ichor by 136.2% in the third quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock valued at $34,000 after purchasing an additional 625 shares during the last quarter. Signaturefd LLC raised its position in shares of Ichor by 214.6% in the third quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock valued at $40,000 after purchasing an additional 854 shares during the period. CWM LLC lifted its stake in shares of Ichor by 134.9% during the 3rd quarter. CWM LLC now owns 3,617 shares of the technology company’s stock worth $115,000 after buying an additional 2,077 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ichor by 28.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company’s stock worth $153,000 after buying an additional 1,068 shares during the period. Institutional investors own 94.81% of the company’s stock.

Wall Street Analysts Forecast Growth

ICHR has been the topic of several research analyst reports. TD Cowen increased their price target on shares of Ichor from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. B. Riley reissued a “buy” rating and set a $38.00 price target (up from $36.00) on shares of Ichor in a report on Tuesday, November 5th. DA Davidson initiated coverage on Ichor in a report on Thursday, September 26th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, 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 target price for the company. Two equities 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 company. According to MarketBeat, Ichor presently has an average rating of “Moderate Buy” and a consensus price target of $42.57.

Ichor Stock Performance

ICHR opened at $32.29 on Friday. The firm has a market cap of $1.09 billion, a P/E ratio of -34.72 and a beta of 1.93. The business’s fifty day moving average is $31.65 and its 200-day moving average is $32.10. Ichor Holdings, Ltd. has a 52-week low of $26.40 and a 52-week high of $46.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.69 and a current ratio of 3.64.

Ichor (NASDAQ:ICHR) last released its earnings results on Monday, November 4th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.14%. The firm had revenue of $211.14 million for the quarter, compared to analyst estimates of $203.24 million. During the same period last year, the firm earned ($0.09) EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Sell-side analysts expect that Ichor Holdings, Ltd. will post -0.1 EPS for the current fiscal year.

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.