B. Riley Reaffirms Buy Rating for Ichor (NASDAQ:ICHR)

Ichor (NASDAQ:ICHR)‘s stock had its “buy” rating reissued by equities research analysts at B. Riley in a report issued on Tuesday, Benzinga reports. They presently have a $38.00 price target on the technology company’s stock, up from their prior price target of $36.00. B. Riley’s price target suggests a potential upside of 16.85% from the stock’s current price.

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

Ichor Trading Up 3.2 %

Shares of ICHR opened at $32.52 on Tuesday. Ichor has a 1 year low of $22.26 and a 1 year high of $46.43. The stock’s 50-day moving average price is $28.94 and its two-hundred day moving average price is $33.75. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.91 and a current ratio of 4.27.

Ichor (NASDAQ:ICHR) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $211.14 million for the quarter, compared to the consensus estimate of $203.24 million. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.18%. Ichor’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. Equities analysts expect that Ichor will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Swedbank AB bought a new stake in Ichor during the 1st quarter worth about $67,106,000. Hood River Capital Management LLC bought a new stake in Ichor during the first quarter worth about $36,971,000. Westfield Capital Management Co. LP boosted its position in Ichor by 162.9% during the first quarter. Westfield Capital Management Co. LP now owns 335,867 shares of the technology company’s stock valued at $12,971,000 after purchasing an additional 208,117 shares during the last quarter. Vanguard Group Inc. grew its stake in Ichor by 6.6% in the first quarter. Vanguard Group Inc. now owns 2,841,622 shares of the technology company’s stock valued at $109,743,000 after purchasing an additional 176,970 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Ichor during the 2nd quarter worth approximately $6,382,000. Institutional investors and hedge funds own 94.81% of the company’s stock.

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.