PNC Financial Services Group Inc. Acquires 1,347 Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR)

PNC Financial Services Group Inc. increased its holdings in shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) by 21.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,510 shares of the technology company’s stock after acquiring an additional 1,347 shares during the period. PNC Financial Services Group Inc.’s holdings in Ichor were worth $242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ICHR. Raymond James Financial Inc. bought a new stake in Ichor during the 4th quarter valued at $8,489,000. Victory Capital Management Inc. raised its position in Ichor by 1.1% during the 4th quarter. Victory Capital Management Inc. now owns 44,131 shares of the technology company’s stock valued at $1,422,000 after purchasing an additional 467 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in Ichor during the 4th quarter valued at $201,000. Charles Schwab Investment Management Inc. raised its position in Ichor by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 502,293 shares of the technology company’s stock valued at $16,184,000 after purchasing an additional 29,536 shares in the last quarter. Finally, Bailard Inc. bought a new stake in Ichor during the 4th quarter valued at $225,000. 94.81% of the stock is owned by institutional investors.

Ichor Stock Performance

Shares of ICHR opened at $26.61 on Friday. The stock has a 50-day moving average of $29.67 and a two-hundred day moving average of $30.29. Ichor Holdings, Ltd. has a one year low of $24.61 and a one year high of $42.70. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 3.34. The stock has a market cap of $904.82 million, a P/E ratio of -40.94 and a beta of 1.91.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.14). Ichor had a negative net margin of 2.45% and a negative return on equity of 1.38%. As a group, research analysts predict that Ichor Holdings, Ltd. will post 1.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Ichor from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Needham & Company LLC reiterated a “hold” rating on shares of Ichor in a report on Wednesday, February 5th. Finally, TD Cowen cut their price target on Ichor from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.29.

Insider Buying and Selling

In related news, Director Jorge Titinger sold 3,000 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $32.04, for a total value of $96,120.00. Following the completion of the transaction, the director now owns 9,832 shares of the company’s stock, valued at approximately $315,017.28. This represents a 23.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by insiders.

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.