Ichor (NASDAQ:ICHR) Downgraded by Needham & Company LLC to “Hold”

Needham & Company LLC cut shares of Ichor (NASDAQ:ICHR) from a buy rating to a hold rating in a research report report published on Monday morning, Marketbeat.com reports.

Other equities research analysts have also recently issued research reports about the company. TD Cowen boosted their target price on Ichor from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Oppenheimer assumed coverage on shares of Ichor in a research report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price objective on the stock. DA Davidson assumed coverage on shares of Ichor in a research note on Thursday, September 26th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, B. Riley restated a “buy” rating and set a $38.00 price objective (up from $36.00) on shares of Ichor in a research note on Tuesday, November 5th. Three 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 company’s stock. According to MarketBeat.com, Ichor presently has an average rating of “Moderate Buy” and a consensus target price of $42.57.

Ichor Stock Down 4.5 %

Ichor stock opened at $30.56 on Monday. Ichor has a twelve month low of $26.40 and a twelve month high of $46.43. The company has a quick ratio of 1.69, a current ratio of 3.64 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $32.33 and a 200-day moving average of $31.81. The stock has a market capitalization of $1.03 billion, a PE ratio of -32.86 and a beta of 1.92.

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. The firm had revenue of $211.14 million during the quarter, compared to analysts’ expectations of $203.24 million. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.09) EPS. On average, equities research analysts anticipate that Ichor will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Quarry LP grew its holdings in Ichor by 99.5% during the second quarter. Quarry LP now owns 868 shares of the technology company’s stock worth $33,000 after purchasing an additional 433 shares during the period. GAMMA Investing LLC raised its stake in Ichor by 136.2% in the third quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock valued at $34,000 after buying an additional 625 shares during the period. Signaturefd LLC lifted its position in shares of Ichor by 214.6% in the third quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock valued at $40,000 after buying an additional 854 shares during the last quarter. CWM LLC boosted its stake in shares of Ichor by 134.9% during the 3rd quarter. CWM LLC now owns 3,617 shares of the technology company’s stock worth $115,000 after acquiring an additional 2,077 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ichor by 28.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company’s stock worth $153,000 after acquiring an additional 1,068 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.