Ichor Holdings, Ltd. (NASDAQ:ICHR) Sees Large Decline in Short Interest

Ichor Holdings, Ltd. (NASDAQ:ICHR) was the recipient of a significant decrease in short interest in November. As of November 30th, there was short interest totalling 608,000 shares, a decrease of 7.5% from the November 15th total of 657,000 shares. Approximately 1.9% of the company’s stock are sold short. Based on an average daily volume of 273,300 shares, the short-interest ratio is currently 2.2 days.

Wall Street Analyst Weigh In

Several equities analysts have commented on ICHR shares. TD Cowen increased their target price on shares of Ichor from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. B. Riley reissued a “buy” rating and set a $38.00 price objective (up previously from $36.00) on shares of Ichor in a report on Tuesday, November 5th. DA Davidson assumed coverage on Ichor in a report on Thursday, September 26th. They issued a “buy” rating and a $50.00 target price for the company. Finally, Oppenheimer began coverage on Ichor in a research report on Wednesday, September 25th. They set a “market perform” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.57.

Institutional Investors Weigh In On Ichor

A number of institutional investors have recently added to or reduced their stakes in ICHR. Millennium Management LLC bought a new stake in shares of Ichor in the 2nd quarter worth approximately $6,382,000. Hood River Capital Management LLC raised its stake in shares of Ichor by 15.8% in the second quarter. Hood River Capital Management LLC now owns 1,108,227 shares of the technology company’s stock valued at $42,722,000 after purchasing an additional 150,933 shares in the last quarter. Renaissance Technologies LLC lifted its position in Ichor by 322.6% in the second quarter. Renaissance Technologies LLC now owns 164,400 shares of the technology company’s stock worth $6,338,000 after purchasing an additional 125,500 shares during the period. Royce & Associates LP boosted its stake in Ichor by 20.8% during the third quarter. Royce & Associates LP now owns 718,967 shares of the technology company’s stock worth $22,870,000 after buying an additional 123,585 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in Ichor by 26.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 568,117 shares of the technology company’s stock valued at $18,072,000 after buying an additional 120,133 shares during the period. 94.81% of the stock is owned by institutional investors and hedge funds.

Ichor Price Performance

NASDAQ ICHR opened at $31.73 on Wednesday. The stock has a market capitalization of $1.07 billion, a PE ratio of -34.99 and a beta of 1.93. The stock has a 50-day simple moving average of $30.92 and a 200 day simple moving average of $32.62. 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 has a twelve month low of $26.40 and a twelve month high of $46.43.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. The company had revenue of $211.14 million during the quarter, compared to analyst estimates of $203.24 million. During the same period in the previous year, the company earned ($0.09) earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. Research analysts anticipate that Ichor will post -0.1 EPS for the current year.

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.