Ichor (NASDAQ:ICHR) Shares Down 8.8% – Time to Sell?

Ichor Holdings, Ltd. (NASDAQ:ICHR) fell 8.8% on Tuesday . The company traded as low as $64.19 and last traded at $64.4750. 305,408 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 930,879 shares. The stock had previously closed at $70.68.

Wall Street Analysts Forecast Growth

ICHR has been the subject of several research analyst reports. B. Riley Financial restated a “buy” rating on shares of Ichor in a research report on Monday, April 20th. Craig Hallum restated a “buy” rating and set a $36.00 price objective on shares of Ichor in a research report on Wednesday, January 14th. Needham & Company LLC boosted their price objective on shares of Ichor from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. Stifel Nicolaus upgraded shares of Ichor from a “hold” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $55.00 in a research report on Tuesday, March 17th. Finally, TD Cowen restated a “buy” rating on shares of Ichor in a research report on Tuesday, February 10th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.43.

Ichor Trading Up 3.5%

The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -42.84 and a beta of 1.67. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.16 and a quick ratio of 1.38. The firm’s 50-day simple moving average is $52.61 and its 200 day simple moving average is $33.72.

Insider Activity

In other Ichor news, Director Jorge Titinger sold 1,200 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $50.11, for a total transaction of $60,132.00. Following the sale, the director owned 13,969 shares of the company’s stock, valued at approximately $699,986.59. The trade was a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Bruce Ragsdale sold 21,276 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $49.66, for a total transaction of $1,056,566.16. Following the sale, the chief operating officer directly owned 97,661 shares in the company, valued at approximately $4,849,845.26. The trade was a 17.89% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 120,259 shares of company stock valued at $5,689,250. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Ichor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Ichor by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 3,333,902 shares of the technology company’s stock worth $61,444,000 after buying an additional 148,993 shares during the last quarter. Invesco Ltd. grew its stake in shares of Ichor by 141.2% during the fourth quarter. Invesco Ltd. now owns 3,023,882 shares of the technology company’s stock worth $55,730,000 after buying an additional 1,770,425 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Ichor by 15.3% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,957,656 shares of the technology company’s stock worth $36,080,000 after buying an additional 259,417 shares during the last quarter. Royce & Associates LP grew its stake in shares of Ichor by 48.5% during the fourth quarter. Royce & Associates LP now owns 1,449,082 shares of the technology company’s stock worth $26,707,000 after buying an additional 473,440 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Ichor by 0.9% in the fourth quarter. State Street Corp now owns 1,285,419 shares of the technology company’s stock worth $23,690,000 after purchasing an additional 11,645 shares during 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.