Needham Investment Management LLC Takes Position in Ichor Holdings, Ltd. (NASDAQ:ICHR)

Needham Investment Management LLC acquired a new stake in shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 42,000 shares of the technology company’s stock, valued at approximately $1,353,000. Needham Investment Management LLC owned about 0.12% of Ichor at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its stake in Ichor by 1.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 21,531 shares of the technology company’s stock worth $694,000 after buying an additional 373 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Ichor by 1.1% in the fourth quarter. Victory Capital Management Inc. now owns 44,131 shares of the technology company’s stock worth $1,422,000 after buying an additional 467 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of Ichor by 12.6% in the fourth quarter. Meeder Asset Management Inc. now owns 6,049 shares of the technology company’s stock worth $195,000 after buying an additional 675 shares in the last quarter. Quarry LP lifted its stake in Ichor by 54.9% during the 4th quarter. Quarry LP now owns 2,426 shares of the technology company’s stock valued at $78,000 after acquiring an additional 860 shares during the period. Finally, Swiss National Bank lifted its holdings in Ichor by 1.4% in the fourth quarter. Swiss National Bank now owns 66,200 shares of the technology company’s stock valued at $2,133,000 after acquiring an additional 900 shares during the period. 94.81% of the stock is currently owned by institutional investors.

Ichor Stock Up 8.4%

Shares of NASDAQ ICHR opened at $18.41 on Tuesday. Ichor Holdings, Ltd. has a 52-week low of $15.38 and a 52-week high of $42.70. The firm has a market cap of $628.15 million, a price-to-earnings ratio of -28.32 and a beta of 1.83. The company has a quick ratio of 1.49, a current ratio of 3.34 and a debt-to-equity ratio of 0.17. The business’s 50 day moving average is $21.44 and its two-hundred day moving average is $27.88.

Ichor (NASDAQ:ICHR) last posted its earnings results on Monday, May 5th. The technology company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.14). The firm had revenue of $244.47 million for the quarter, compared to analyst estimates of $244.95 million. Ichor had a negative return on equity of 1.38% and a negative net margin of 2.45%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) EPS. Research analysts predict that Ichor Holdings, Ltd. will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jeff Andreson acquired 10,000 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $16.86 per share, with a total value of $168,600.00. Following the purchase, the chief executive officer now owns 285,594 shares of the company’s stock, valued at $4,815,114.84. This represents a 3.63% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of Ichor from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. DA Davidson reduced their price objective on Ichor from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. StockNews.com downgraded shares of Ichor from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. Oppenheimer decreased their price target on Ichor from $35.00 to $25.00 and set a “market perform” rating for the company in a research note on Friday, April 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Ichor in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.00.

About Ichor

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.