Ichor (NASDAQ:ICHR) Trading 7.5% Higher – Here’s What Happened

Ichor Holdings, Ltd. (NASDAQ:ICHR) shares rose 7.5% during trading on Thursday . The stock traded as high as $49.88 and last traded at $50.3350. Approximately 319,523 shares changed hands during trading, a decline of 69% from the average daily volume of 1,046,218 shares. The stock had previously closed at $46.81.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ICHR shares. TD Cowen reiterated a “buy” rating on shares of Ichor in a research note on Tuesday, February 10th. Needham & Company LLC increased their price objective on shares of Ichor from $36.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. DA Davidson raised their price objective on Ichor from $30.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. B. Riley Financial upgraded Ichor from a “neutral” rating to a “buy” rating in a report on Tuesday, February 10th. Finally, Stifel Nicolaus raised Ichor from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $55.00 in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.14.

Ichor Trading Up 7.2%

The business has a 50 day moving average of $38.65 and a two-hundred day moving average of $25.44. The firm has a market cap of $1.74 billion, a P/E ratio of -32.70 and a beta of 1.76. The company has a current ratio of 3.16, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18.

Insider Activity at Ichor

In other news, CFO Greg Swyt sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $51.20, for a total transaction of $153,600.00. Following the completion of the sale, the chief financial officer owned 78,679 shares in the company, valued at $4,028,364.80. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jorge Titinger sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $50.11, for a total value of $60,132.00. Following the completion of the transaction, the director directly owned 13,969 shares in the company, valued at $699,986.59. The trade was a 7.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 120,259 shares of company stock worth $5,689,250 in the last quarter. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC grew its holdings in Ichor by 0.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 50,702 shares of the technology company’s stock valued at $934,000 after purchasing an additional 398 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Ichor by 64.8% in the 4th quarter. Hantz Financial Services Inc. now owns 1,500 shares of the technology company’s stock valued at $28,000 after buying an additional 590 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Ichor by 5.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,447 shares of the technology company’s stock worth $244,000 after buying an additional 666 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Ichor by 0.6% in the 4th quarter. AQR Capital Management LLC now owns 134,194 shares of the technology company’s stock worth $2,473,000 after buying an additional 817 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ichor by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,645 shares of the technology company’s stock worth $444,000 after acquiring an additional 865 shares in the last quarter. Institutional investors own 94.81% of the company’s stock.

About Ichor

Ichor Holdings Ltd. is a global supplier of critical subsystems used in the fabrication of semiconductor devices. The company specializes in the design, engineering and manufacturing of gas delivery systems, vacuum pumps and abatement solutions that manage process gases and by-products in wafer-processing tools. Its modular subsystems are designed to integrate with lithography, etch, deposition and cleaning equipment, helping to ensure precise control of gas flow, pressure and purity throughout the chip-manufacturing cycle.

Founded in the mid-1980s and headquartered in Fremont, California, Ichor has expanded its footprint across Asia, Europe and North America.