Principal Financial Group Inc. Buys 81,774 Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR)

Principal Financial Group Inc. boosted its stake in shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) by 43.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 268,111 shares of the technology company’s stock after purchasing an additional 81,774 shares during the quarter. Principal Financial Group Inc.’s holdings in Ichor were worth $14,424,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Shell Asset Management Co. bought a new stake in Ichor during the first quarter worth approximately $109,000. Glaxis Capital Management LLC boosted its position in Ichor by 20.1% during the first quarter. Glaxis Capital Management LLC now owns 61,660 shares of the technology company’s stock worth $3,317,000 after purchasing an additional 10,320 shares during the period. BlackRock Inc. boosted its position in Ichor by 38.0% during the first quarter. BlackRock Inc. now owns 5,129,366 shares of the technology company’s stock worth $275,960,000 after purchasing an additional 1,412,399 shares during the period. American International Group Inc. boosted its position in Ichor by 19.1% during the first quarter. American International Group Inc. now owns 18,097 shares of the technology company’s stock worth $974,000 after purchasing an additional 2,900 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Ichor by 9.0% during the first quarter. BNP Paribas Arbitrage SA now owns 6,288 shares of the technology company’s stock worth $338,000 after purchasing an additional 518 shares during the period. 84.42% of the stock is owned by hedge funds and other institutional investors.

NASDAQ ICHR opened at $54.72 on Friday. The company has a market capitalization of $1.54 billion, a PE ratio of 30.92 and a beta of 2.31. The company has a 50-day simple moving average of $55.77. Ichor Holdings, Ltd. has a twelve month low of $19.88 and a twelve month high of $63.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.96 and a current ratio of 2.75.

Ichor (NASDAQ:ICHR) last posted its earnings results on Tuesday, May 4th. The technology company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.04. The business had revenue of $265.00 million for the quarter, compared to analysts’ expectations of $256.00 million. Ichor had a net margin of 4.64% and a return on equity of 18.52%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, equities analysts predict that Ichor Holdings, Ltd. will post 3.24 EPS for the current year.

Several equities research analysts have recently weighed in on ICHR shares. Needham & Company LLC increased their price objective on Ichor from $46.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, April 21st. B. Riley increased their price objective on Ichor from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, May 5th. Zacks Investment Research raised Ichor from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Monday, April 19th. Cowen increased their price objective on Ichor from $48.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, April 14th. Finally, DA Davidson increased their price objective on Ichor from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, April 14th. Seven equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target of $60.71.

In related news, Director Thomas M. Rohrs sold 65,908 shares of the company’s stock in a transaction dated Wednesday, June 2nd. The shares were sold at an average price of $55.89, for a total value of $3,683,598.12. Following the sale, the director now owns 165,503 shares of the company’s stock, valued at $9,249,962.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Philip Ryan Sr. Barros sold 16,052 shares of the company’s stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $55.30, for a total transaction of $887,675.60. Following the completion of the sale, the chief technology officer now directly owns 8,114 shares in the company, valued at approximately $448,704.20. The disclosure for this sale can be found here. In the last three months, insiders sold 83,460 shares of company stock worth $4,661,424. 2.10% of the stock is currently owned by insiders.

Ichor Company Profile

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices. The company's gas delivery subsystems deliver, monitor, and control gases used in semiconductor manufacturing processes, such as etch and deposition; and chemical delivery subsystems blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes comprising chemical-mechanical planarization, electroplating, and cleaning.

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Institutional Ownership by Quarter for Ichor (NASDAQ:ICHR)

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