Ichor (NASDAQ:ICHR) Stock Rating Upgraded by DA Davidson

DA Davidson upgraded shares of Ichor (NASDAQ:ICHR) to a strong-buy rating in a report released on Wednesday morning, Zacks.com reports.

ICHR has been the subject of a number of other reports. TD Cowen lowered their target price on shares of Ichor from $48.00 to $35.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Oppenheimer began coverage on shares of Ichor in a report on Wednesday. They issued a market perform rating and a $35.00 price target for the company. 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 report on Wednesday, August 7th. Finally, StockNews.com upgraded Ichor from a sell rating to a hold rating in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $43.29.

Ichor Price Performance

Shares of ICHR opened at $31.86 on Wednesday. The company has a 50 day moving average of $30.27 and a two-hundred day moving average of $35.54. The company has a quick ratio of 1.91, a current ratio of 4.27 and a debt-to-equity ratio of 0.18. Ichor has a twelve month low of $22.26 and a twelve month high of $46.43. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -18.00 and a beta of 1.91.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Ichor had a negative return on equity of 2.56% and a negative net margin of 4.53%. The firm had revenue of $203.23 million during the quarter, compared to analysts’ expectations of $197.75 million. As a group, analysts predict that Ichor will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ichor

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP grew its stake in shares of Ichor by 99.5% during the 2nd quarter. Quarry LP now owns 868 shares of the technology company’s stock worth $33,000 after purchasing an additional 433 shares during the period. Jones Financial Companies Lllp acquired a new stake in Ichor during the fourth quarter valued at $41,000. CWM LLC increased its holdings in Ichor by 50.5% in the second quarter. CWM LLC now owns 1,540 shares of the technology company’s stock valued at $59,000 after buying an additional 517 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Ichor by 39.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the technology company’s stock worth $102,000 after acquiring an additional 854 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in shares of Ichor during the 1st quarter worth about $225,000. 94.81% of the stock is owned by hedge funds and other institutional investors.

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.