Short Interest in Ichor Holdings, Ltd. (NASDAQ:ICHR) Drops By 7.2%

Ichor Holdings, Ltd. (NASDAQ:ICHR) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 564,400 shares, a decrease of 7.2% from the November 30th total of 608,000 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 261,000 shares, the days-to-cover ratio is presently 2.2 days.

Ichor Stock Performance

ICHR traded down $0.35 during trading on Monday, hitting $31.02. The stock had a trading volume of 87,613 shares, compared to its average volume of 296,353. The company has a current ratio of 3.64, a quick ratio of 1.69 and a debt-to-equity ratio of 0.18. Ichor has a 12 month low of $26.40 and a 12 month high of $46.43. The company has a 50 day simple moving average of $31.27 and a 200-day simple moving average of $32.18. The firm has a market cap of $1.05 billion, a PE ratio of -33.35 and a beta of 1.93.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $211.14 million during the quarter, compared to analysts’ expectations of $203.24 million. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) EPS. Analysts expect that Ichor will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Ichor

Several institutional investors and hedge funds have recently added to or reduced their stakes in ICHR. State Street Corp lifted its holdings in shares of Ichor by 1.8% during the 3rd quarter. State Street Corp now owns 1,232,532 shares of the technology company’s stock worth $39,207,000 after acquiring an additional 21,804 shares during the period. Hood River Capital Management LLC raised its position in Ichor by 15.8% in the second quarter. Hood River Capital Management LLC now owns 1,108,227 shares of the technology company’s stock worth $42,722,000 after purchasing an additional 150,933 shares in the last quarter. Geode Capital Management LLC lifted its stake in Ichor by 3.6% during the third quarter. Geode Capital Management LLC now owns 795,794 shares of the technology company’s stock worth $25,319,000 after purchasing an additional 27,540 shares during the period. Royce & Associates LP boosted its holdings in Ichor by 20.8% during the third quarter. Royce & Associates LP now owns 718,967 shares of the technology company’s stock valued at $22,870,000 after purchasing an additional 123,585 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in shares of Ichor by 4.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 580,818 shares of the technology company’s stock worth $18,476,000 after buying an additional 24,889 shares in the last quarter. 94.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Ichor from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. B. Riley reissued a “buy” rating and issued a $38.00 price target (up previously from $36.00) on shares of Ichor in a research note on Tuesday, November 5th. Oppenheimer initiated coverage on shares of Ichor in a research report on Wednesday, September 25th. They set a “market perform” rating and a $35.00 price objective on the stock. Finally, DA Davidson initiated coverage on shares of Ichor in a research note on Thursday, September 26th. They issued a “buy” rating and a $50.00 target price for the company. Two investment 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.57.

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.