Ichor Holdings Ltd (NASDAQ:ICHR)‘s stock had its “buy” rating reissued by equities researchers at Deutsche Bank AG in a report released on Saturday, April 29th. They presently have a $24.00 price objective on the technology company’s stock, up from their previous price objective of $20.00. Deutsche Bank AG’s price target would suggest a potential upside of 21.52% from the company’s previous close.
Several other equities analysts have also recently issued reports on ICHR. Cowen and Company upped their target price on shares of Ichor Holdings from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Needham & Company LLC began coverage on shares of Ichor Holdings in a research note on Tuesday, January 3rd. They set a “buy” rating and a $17.00 target price on the stock. Zacks Investment Research cut shares of Ichor Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $22.00 price objective (up from $19.00) on shares of Ichor Holdings in a report on Sunday, April 2nd. Finally, Stifel Nicolaus began coverage on shares of Ichor Holdings in a report on Tuesday, January 3rd. They issued a “buy” rating and a $16.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.67.
Ichor Holdings (NASDAQ:ICHR) traded up 1.92% during midday trading on Friday, reaching $20.13. 250,220 shares of the company traded hands. The company has a 50 day moving average of $19.31 and a 200-day moving average of $16.77. Ichor Holdings has a 12-month low of $9.76 and a 12-month high of $21.45. The stock has a market capitalization of $499.34 million and a P/E ratio of 10.83.
Ichor Holdings (NASDAQ:ICHR) last released its earnings results on Thursday, May 11th. The technology company reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. The business had revenue of $148.70 million during the quarter, compared to analysts’ expectations of $148.69 million. The firm’s revenue was up 102.9% on a year-over-year basis. Equities analysts anticipate that Ichor Holdings will post $2.08 EPS for the current fiscal year.
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In related news, Director Dipanjan Deb sold 5,678,782 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $18.53, for a total value of $105,227,830.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Thomas M. Rohrs sold 126,354 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $18.53, for a total value of $2,341,339.62. Following the completion of the sale, the chief executive officer now owns 16,098 shares in the company, valued at approximately $298,295.94. The disclosure for this sale can be found here. Insiders have sold 5,871,911 shares of company stock worth $108,806,511 in the last 90 days.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC acquired a new position in shares of Ichor Holdings during the first quarter valued at $156,000. Hancock Holding Co. purchased a new stake in shares of Ichor Holdings during the first quarter valued at approximately $202,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Ichor Holdings during the first quarter valued at approximately $219,000. Amtrust Financial Services Inc. purchased a new stake in shares of Ichor Holdings during the fourth quarter valued at approximately $253,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Ichor Holdings during the fourth quarter valued at approximately $281,000. 8.12% of the stock is owned by institutional investors and hedge funds.
About Ichor Holdings
Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. The Company’s primary offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems, which are key elements of the process tools used in the manufacturing of semiconductor devices.
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