Ichor (NASDAQ:ICHR) Shares Gap Up – Time to Buy?

Ichor Holdings, Ltd. (NASDAQ:ICHR)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $30.62, but opened at $31.70. Ichor shares last traded at $31.40, with a volume of 21,484 shares traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ICHR. 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 note on Tuesday, November 5th. DA Davidson assumed coverage on Ichor in a research report on Thursday, September 26th. They issued a “buy” rating and a $50.00 price objective for the company. Oppenheimer started coverage on Ichor in a research report on Wednesday, September 25th. They set a “market perform” rating and a $35.00 price objective on the stock. TD Cowen lifted their price target on shares of Ichor from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC cut shares of Ichor from a “buy” rating to a “hold” rating in a research note on Monday. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.57.

Ichor Price Performance

The company has a market cap of $1.08 billion, a price-to-earnings ratio of -34.57 and a beta of 1.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.69 and a current ratio of 3.64. The company’s 50 day moving average price is $32.28 and its 200 day moving average price is $31.75.

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, topping the consensus estimate of $0.11 by $0.01. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.14%. The firm had revenue of $211.14 million for the quarter, compared to analysts’ expectations of $203.24 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts predict that Ichor Holdings, Ltd. will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Arizona State Retirement System increased its position in Ichor by 14.3% in the 2nd quarter. Arizona State Retirement System now owns 9,228 shares of the technology company’s stock valued at $356,000 after acquiring an additional 1,154 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Ichor by 322.6% during the second 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 last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Ichor by 131.1% in the second quarter. Mutual of America Capital Management LLC now owns 80,925 shares of the technology company’s stock valued at $3,120,000 after purchasing an additional 45,902 shares in the last quarter. Amalgamated Bank raised its position in Ichor by 6.1% in the 2nd quarter. Amalgamated Bank now owns 10,025 shares of the technology company’s stock worth $386,000 after purchasing an additional 577 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings 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 buying an additional 19,850 shares in the last quarter. 94.81% of the stock is owned by institutional investors.

Ichor Company Profile

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.