Millennium Management LLC Takes Position in Ichor Holdings, Ltd. (NASDAQ:ICHR)

Millennium Management LLC bought a new stake in Ichor Holdings, Ltd. (NASDAQ:ICHR) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 165,555 shares of the technology company’s stock, valued at approximately $6,382,000. Millennium Management LLC owned about 0.49% of Ichor as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP raised its holdings in Ichor by 68.5% during the fourth quarter. Wellington Management Group LLP now owns 291,389 shares of the technology company’s stock worth $9,799,000 after purchasing an additional 118,498 shares in the last quarter. Vanguard Group Inc. increased its holdings in Ichor by 6.6% in the first quarter. Vanguard Group Inc. now owns 2,841,622 shares of the technology company’s stock valued at $109,743,000 after buying an additional 176,970 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in Ichor in the first quarter valued at about $1,353,000. Epoch Investment Partners Inc. increased its holdings in Ichor by 33.0% in the first quarter. Epoch Investment Partners Inc. now owns 265,246 shares of the technology company’s stock valued at $10,244,000 after buying an additional 65,862 shares in the last quarter. Finally, Swedbank AB purchased a new position in Ichor in the first quarter valued at about $67,106,000. 94.81% of the stock is owned by hedge funds and other institutional investors.

Ichor Stock Down 1.2 %

Shares of ICHR opened at $29.00 on Friday. The firm has a market cap of $970.78 million, a PE ratio of -16.38 and a beta of 1.90. The company’s fifty day moving average is $29.61 and its two-hundred day moving average is $35.09. Ichor Holdings, Ltd. has a fifty-two week low of $22.26 and a fifty-two week high of $46.43. The company has a quick ratio of 1.91, a current ratio of 4.27 and a debt-to-equity ratio of 0.18.

Ichor (NASDAQ:ICHR) last announced its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $203.23 million for the quarter, compared to analyst estimates of $197.75 million. Ichor had a negative net margin of 4.53% and a negative return on equity of 2.56%. Analysts forecast that Ichor Holdings, Ltd. will post -0.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ICHR has been the subject of a number of research analyst reports. DA Davidson initiated coverage on shares of Ichor in a report on Thursday, September 26th. They issued a “buy” rating and a $50.00 target price for the company. StockNews.com upgraded shares of Ichor from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. TD Cowen lowered their price target on shares of Ichor from $48.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC lowered their price target on shares of Ichor from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Oppenheimer started coverage on shares of Ichor in a research report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.29.

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.