Ichor (NASDAQ:ICHR) Announces Quarterly Earnings Results

Ichor (NASDAQ:ICHR) posted its quarterly earnings results on Monday. The technology company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.18, FiscalAI reports. The company had revenue of $328.70 million during the quarter, compared to the consensus estimate of $330.15 million. Ichor had a positive return on equity of 0.47% and a negative net margin of 3.97%.

Ichor Stock Performance

Ichor stock traded down $2.06 during trading hours on Monday, reaching $36.84. 1,385,977 shares of the company were exchanged, compared to its average volume of 981,326. Ichor has a 12 month low of $14.06 and a 12 month high of $113.58. The company has a current ratio of 3.70, a quick ratio of 2.07 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $53.07 and a 200 day moving average of $60.47. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -31.49 and a beta of 1.79.

Analyst Ratings Changes

A number of equities analysts recently commented on ICHR shares. B. Riley Financial dropped their price objective on Ichor from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Ichor from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Oppenheimer boosted their target price on shares of Ichor from $60.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 4th. TD Cowen dropped their price target on shares of Ichor from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Stifel Nicolaus raised their price target on shares of Ichor from $76.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.89.

Insider Activity

In related news, Director Iain MacKenzie sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $50.66, for a total transaction of $1,013,200.00. Following the completion of the sale, the director directly owned 102,427 shares of the company’s stock, valued at approximately $5,188,951.82. This represents a 16.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Philip Barros, Jr. sold 1,314 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $61.88, for a total transaction of $81,310.32. Following the completion of the transaction, the chief executive officer owned 161,562 shares in the company, valued at $9,997,456.56. The trade was a 0.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 46,740 shares of company stock worth $2,602,960. 1.70% of the stock is owned by company insiders.

About Ichor

Ichor Holdings, Ltd. (NASDAQ: ICHR) is a supplier to the semiconductor equipment industry. The company designs, engineers and manufactures critical fluid-delivery subsystems used in semiconductor fabrication equipment, including systems that deliver and control gases and chemicals during the wafer-manufacturing process.

Ichor’s products and services include gas and chemical delivery systems, precision-machined components, weldments, fluid-management assemblies and related engineering and manufacturing services.