TD Cowen Has Lowered Expectations for Ichor (NASDAQ:ICHR) Stock Price

Ichor (NASDAQ:ICHR) had its price objective lowered by equities research analysts at TD Cowen from $40.00 to $38.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the technology company’s stock. TD Cowen’s price objective points to a potential upside of 18.94% from the company’s current price.

A number of other analysts also recently weighed in on the company. Needham & Company LLC downgraded Ichor from a “buy” rating to a “hold” rating in a research report on Monday. B. Riley reiterated a “buy” rating and issued a $38.00 price objective (up previously from $36.00) on shares of Ichor in a report on Tuesday, November 5th. Oppenheimer initiated coverage on shares of Ichor in a research note on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price target for the company. Finally, DA Davidson assumed coverage on shares of Ichor in a research report on Thursday, September 26th. They issued a “buy” rating and a $50.00 target price on the stock. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.29.

Ichor Price Performance

Ichor stock opened at $31.95 on Friday. The company’s 50 day moving average price is $32.24 and its two-hundred day moving average price is $31.75. The company has a quick ratio of 1.69, a current ratio of 3.64 and a debt-to-equity ratio of 0.18. Ichor has a 52 week low of $26.40 and a 52 week high of $46.43. The stock has a market cap of $1.08 billion, a P/E ratio of -34.35 and a beta of 1.92.

Ichor (NASDAQ:ICHR) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 EPS for the quarter, beating 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 business had revenue of $211.14 million for the quarter, compared to the consensus estimate of $203.24 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. On average, equities analysts predict that Ichor will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP grew its position 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 buying an additional 433 shares in the last quarter. Amalgamated Bank increased its stake in Ichor by 6.1% during the 2nd quarter. Amalgamated Bank now owns 10,025 shares of the technology company’s stock valued at $386,000 after purchasing an additional 577 shares in the last quarter. GAMMA Investing LLC lifted its position in Ichor by 136.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock worth $34,000 after acquiring an additional 625 shares during the period. Signaturefd LLC lifted its holdings in shares of Ichor by 214.6% during the third quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock worth $40,000 after purchasing an additional 854 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Ichor by 28.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company’s stock worth $153,000 after acquiring an additional 1,068 shares during the period. 94.81% of the stock is currently 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.