Ichor (NASDAQ:ICHR) Price Target Cut to $38.00 by Analysts at TD Cowen

Ichor (NASDAQ:ICHR) had its target price decreased by TD Cowen from $40.00 to $38.00 in a report released on Friday, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the technology company’s stock.

Several other research analysts have also commented on the company. DA Davidson began coverage on Ichor in a research report on Thursday, September 26th. They issued a “buy” rating and a $50.00 target price for the company. Needham & Company LLC lowered Ichor from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. B. Riley reiterated a “buy” rating and issued a $38.00 target price (up previously from $36.00) on shares of Ichor in a research report on Tuesday, November 5th. Finally, Oppenheimer began coverage on Ichor in a research report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 target price for the company. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.29.

Ichor Price Performance

Shares of NASDAQ ICHR opened at $30.84 on Friday. Ichor has a fifty-two week low of $26.40 and a fifty-two week high of $46.43. The business has a 50 day moving average price of $32.18 and a two-hundred day moving average price of $31.69. 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 firm has a market cap of $1.04 billion, a PE ratio of -33.16 and a beta of 1.92.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 earnings per share for the quarter, beating 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 firm had revenue of $211.14 million during the quarter, compared to analyst estimates of $203.24 million. During the same quarter last year, the firm earned ($0.09) EPS. Ichor’s quarterly revenue was up 7.3% on a year-over-year basis. Sell-side analysts expect that Ichor will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICHR. Renaissance Technologies LLC boosted its position in Ichor by 322.6% during the 2nd quarter. Renaissance Technologies LLC now owns 164,400 shares of the technology company’s stock valued at $6,338,000 after purchasing an additional 125,500 shares during the period. Mutual of America Capital Management LLC boosted its position in Ichor by 131.1% during the 2nd quarter. Mutual of America Capital Management LLC now owns 80,925 shares of the technology company’s stock worth $3,120,000 after acquiring an additional 45,902 shares during the period. Amalgamated Bank boosted its position in Ichor by 6.1% during the 2nd quarter. Amalgamated Bank now owns 10,025 shares of the technology company’s stock worth $386,000 after acquiring an additional 577 shares during the period. First Eagle Investment Management LLC boosted its position in Ichor by 5.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 373,948 shares of the technology company’s stock worth $14,416,000 after acquiring an additional 19,850 shares during the period. Finally, XTX Topco Ltd acquired a new position in Ichor during the 2nd quarter worth $403,000. Institutional investors and hedge funds own 94.81% of the company’s stock.

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.