Ichor Holdings, Ltd. (NASDAQ:ICHR) Sees Significant Decrease in Short Interest

Ichor Holdings, Ltd. (NASDAQ:ICHR) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 657,000 shares, a drop of 7.3% from the October 31st total of 709,100 shares. Based on an average daily volume of 270,200 shares, the short-interest ratio is currently 2.4 days. Approximately 2.0% of the company’s shares are short sold.

Analysts Set New Price Targets

Several research firms have recently commented on ICHR. StockNews.com raised shares of Ichor from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Oppenheimer began coverage on Ichor in a report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price target for the company. TD Cowen lifted their price target on Ichor from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC dropped their price objective on shares of Ichor from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, DA Davidson initiated coverage on Ichor in a research report on Thursday, September 26th. They set a “buy” rating and a $50.00 target price on the stock. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.57.

Ichor Stock Performance

Shares of NASDAQ ICHR opened at $35.40 on Tuesday. Ichor has a twelve month low of $25.32 and a twelve month high of $46.43. 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 stock’s 50 day moving average price is $30.34 and its 200-day moving average price is $32.99.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $211.14 million for the quarter, compared to analyst estimates of $203.24 million. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.14%. Ichor’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. As a group, equities analysts predict that Ichor will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Ichor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meros Investment Management LP boosted its position in shares of Ichor by 85.4% during the 3rd quarter. Meros Investment Management LP now owns 197,119 shares of the technology company’s stock worth $6,270,000 after acquiring an additional 90,791 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Ichor by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 795,794 shares of the technology company’s stock valued at $25,319,000 after buying an additional 27,540 shares during the period. Barclays PLC lifted its holdings in Ichor by 377.6% during the 3rd quarter. Barclays PLC now owns 56,787 shares of the technology company’s stock worth $1,808,000 after buying an additional 44,897 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Ichor in the 3rd quarter valued at about $207,000. Finally, Hodges Capital Management Inc. boosted its stake in Ichor by 2.8% during the third quarter. Hodges Capital Management Inc. now owns 142,870 shares of the technology company’s stock valued at $4,545,000 after buying an additional 3,950 shares in the last quarter. 94.81% of the stock is owned by hedge funds and other 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.