DA Davidson Has Optimistic Outlook of Ichor FY2024 Earnings

Ichor Holdings, Ltd. (NASDAQ:ICHR) – Stock analysts at DA Davidson upped their FY2024 earnings estimates for shares of Ichor in a note issued to investors on Tuesday, November 5th. DA Davidson analyst T. Diffely now anticipates that the technology company will post earnings of ($0.13) per share for the year, up from their prior forecast of ($0.14). DA Davidson currently has a “Strong-Buy” rating on the stock. The consensus estimate for Ichor’s current full-year earnings is ($0.17) per share.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The business had revenue of $211.14 million for the quarter, compared to analysts’ expectations 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 was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS.

Several other research analysts also recently commented on the company. Oppenheimer started coverage on Ichor in a research report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price target on the stock. B. Riley reaffirmed a “buy” rating and issued a $38.00 target price (up previously from $36.00) on shares of Ichor in a report on Tuesday. StockNews.com upgraded Ichor from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Needham & Company LLC reduced their price target on shares of Ichor from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, TD Cowen raised their price objective on shares of Ichor from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.57.

Ichor Stock Up 3.2 %

ICHR opened at $32.52 on Thursday. Ichor has a twelve month low of $22.26 and a twelve month high of $46.43. The business has a 50 day moving average price of $28.94 and a 200 day moving average price of $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.

Institutional Investors Weigh In On Ichor

Several institutional investors have recently modified their holdings of ICHR. Quarry LP boosted its stake in Ichor by 99.5% in the second quarter. Quarry LP now owns 868 shares of the technology company’s stock valued at $33,000 after acquiring an additional 433 shares during the last quarter. GAMMA Investing LLC increased its holdings in Ichor by 136.2% in the third quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock valued at $34,000 after purchasing an additional 625 shares during the last quarter. Signaturefd LLC boosted its holdings in 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 buying an additional 854 shares during the last quarter. CWM LLC grew its position in shares of Ichor by 50.5% during the 2nd quarter. CWM LLC now owns 1,540 shares of the technology company’s stock worth $59,000 after buying an additional 517 shares during the period. Finally, ProShare Advisors LLC bought a new stake in shares of Ichor in the 1st quarter valued at about $225,000. Institutional investors and hedge funds own 94.81% of the company’s stock.

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.