TD Cowen Cuts Ichor (NASDAQ:ICHR) Price Target to $38.00

Ichor (NASDAQ:ICHR) had its price objective trimmed by TD Cowen from $40.00 to $38.00 in a report issued on Friday, MarketBeat reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $38.00 target price (up previously from $36.00) on shares of Ichor in a research report on Tuesday, November 5th. Needham & Company LLC downgraded shares of Ichor from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Oppenheimer began 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. Finally, DA Davidson began coverage on shares of Ichor in a research report on Thursday, September 26th. They issued a “buy” rating and a $50.00 target price for the company. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ichor currently has an average rating of “Moderate Buy” and an average target price of $42.29.

Ichor Stock Down 3.5 %

Shares of NASDAQ:ICHR opened at $30.84 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.69 and a current ratio of 3.64. The company has a market cap of $1.04 billion, a PE ratio of -33.16 and a beta of 1.92. Ichor has a 52 week low of $26.40 and a 52 week high of $46.43. The firm has a 50 day simple moving average of $32.18 and a 200 day simple moving average of $31.58.

Ichor (NASDAQ:ICHR) last released its earnings results on Monday, November 4th. The technology company reported $0.12 earnings per share (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 2.14%. The company had revenue of $211.14 million during the quarter, compared to the consensus estimate of $203.24 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The company’s revenue was up 7.3% compared to the same quarter last year. As a group, research analysts expect that Ichor will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Ichor by 157.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 340,247 shares of the technology company’s stock valued at $10,823,000 after buying an additional 208,328 shares during the last quarter. State Street Corp grew its stake in Ichor by 1.8% in the 3rd quarter. State Street Corp now owns 1,232,532 shares of the technology company’s stock valued at $39,207,000 after buying an additional 21,804 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ichor by 65.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 54,904 shares of the technology company’s stock valued at $1,746,000 after buying an additional 21,810 shares during the last quarter. Foundry Partners LLC acquired a new position in Ichor in the 3rd quarter valued at $3,107,000. Finally, Mutual of America Capital Management LLC grew its position in Ichor by 50.1% in the 3rd quarter. Mutual of America Capital Management LLC now owns 121,500 shares of the technology company’s stock worth $3,865,000 after purchasing an additional 40,575 shares during the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.

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.