Ichor (NASDAQ:ICHR) Trading Down 8.2% – Here’s What Happened

Ichor Holdings, Ltd. (NASDAQ:ICHR) was down 8.2% during trading on Thursday . The stock traded as low as $42.04 and last traded at $41.1680. Approximately 103,119 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,084,120 shares. The stock had previously closed at $44.83.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. DA Davidson upped their target price on shares of Ichor from $30.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Zacks Research upgraded shares of Ichor from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Stifel Nicolaus set a $30.00 price objective on Ichor in a research report on Tuesday, February 10th. Craig Hallum reiterated a “buy” rating and issued a $36.00 price objective on shares of Ichor in a research note on Wednesday, January 14th. Finally, TD Cowen reiterated a “buy” rating on shares of Ichor in a report on Tuesday, February 10th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.57.

Ichor Trading Down 4.5%

The company’s fifty day moving average is $36.37 and its two-hundred day moving average is $24.51. The company has a quick ratio of 1.38, a current ratio of 3.16 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -27.77 and a beta of 1.76.

Insiders Place Their Bets

In other news, CEO Philip Ryan Sr. Barros sold 21,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $46.63, for a total value of $979,230.00. Following the sale, the chief executive officer directly owned 153,936 shares in the company, valued at approximately $7,178,035.68. This trade represents a 12.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorge Titinger sold 1,200 shares of Ichor stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $50.11, for a total transaction of $60,132.00. Following the sale, the director directly owned 13,969 shares of the company’s stock, valued at approximately $699,986.59. This trade represents a 7.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 120,259 shares of company stock worth $5,689,250. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Ichor

A number of institutional investors have recently bought and sold shares of ICHR. Linden Thomas Advisory Services LLC boosted its position in shares of Ichor by 0.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 50,702 shares of the technology company’s stock worth $934,000 after acquiring an additional 398 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Ichor by 64.8% during the 4th quarter. Hantz Financial Services Inc. now owns 1,500 shares of the technology company’s stock worth $28,000 after acquiring an additional 590 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Ichor by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,447 shares of the technology company’s stock worth $244,000 after acquiring an additional 666 shares in the last quarter. AQR Capital Management LLC lifted its stake in Ichor by 0.6% during the fourth quarter. AQR Capital Management LLC now owns 134,194 shares of the technology company’s stock worth $2,473,000 after purchasing an additional 817 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ichor by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,645 shares of the technology company’s stock worth $444,000 after purchasing an additional 865 shares during the last quarter. 94.81% of the stock is owned by hedge funds and other institutional investors.

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.