B. Riley Has Negative Outlook for Ichor FY2024 Earnings

Ichor Holdings, Ltd. (NASDAQ:ICHR) – Investment analysts at B. Riley lowered their FY2024 EPS estimates for shares of Ichor in a research note issued on Monday, January 13th. B. Riley analyst C. Ellis now forecasts that the technology company will earn ($0.30) per share for the year, down from their prior forecast of ($0.11). B. Riley has a “Buy” rating and a $38.00 price objective on the stock. The consensus estimate for Ichor’s current full-year earnings is ($0.10) per share. B. Riley also issued estimates for Ichor’s Q4 2024 earnings at ($0.05) EPS, Q2 2025 earnings at $0.17 EPS and FY2025 earnings at $0.78 EPS.

Ichor (NASDAQ:ICHR) last released its earnings results on Monday, November 4th. The technology company reported $0.12 earnings per share 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 business had revenue of $211.14 million during the quarter, compared to analysts’ expectations of $203.24 million. During the same quarter last year, the company earned ($0.09) earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis.

Other research analysts have also issued reports about the company. DA Davidson started coverage on Ichor in a research note on Thursday, September 26th. They issued a “buy” rating and a $50.00 target price for the company. Needham & Company LLC lowered shares of Ichor from a “buy” rating to a “hold” rating in a report on Monday. Oppenheimer initiated coverage on shares of Ichor in a report on Wednesday, September 25th. They set a “market perform” rating and a $35.00 price objective for the company. Finally, TD Cowen lifted 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, November 5th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Ichor currently has an average rating of “Moderate Buy” and an average price target of $42.57.

Ichor Price Performance

Shares of ICHR stock opened at $31.95 on Thursday. Ichor has a 12 month low of $26.40 and a 12 month high of $46.43. The company has a market capitalization of $1.08 billion, a P/E ratio of -34.35 and a beta of 1.92. The stock has a 50 day moving average of $32.24 and a two-hundred day moving average of $31.75. The company has a current ratio of 3.64, a quick ratio of 1.69 and a debt-to-equity ratio of 0.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ICHR. Quarry LP grew its holdings in shares of Ichor by 99.5% in the 2nd quarter. Quarry LP now owns 868 shares of the technology company’s stock worth $33,000 after purchasing an additional 433 shares during the last quarter. Amalgamated Bank boosted its position in Ichor by 6.1% in the second quarter. Amalgamated Bank now owns 10,025 shares of the technology company’s stock valued at $386,000 after buying an additional 577 shares in the last quarter. GAMMA Investing LLC grew its stake in Ichor by 136.2% during the third quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock worth $34,000 after buying an additional 625 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Ichor by 214.6% during the third quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock worth $40,000 after buying an additional 854 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Ichor by 28.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company’s stock valued at $153,000 after acquiring an additional 1,068 shares during the last quarter. 94.81% of the stock is owned by institutional investors.

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.