Ichor (NASDAQ:ICHR) Upgraded to Strong-Buy at DA Davidson

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

A number of other brokerages also recently issued reports on ICHR. StockNews.com raised Ichor from a sell rating to a hold rating in a research note on Wednesday, August 14th. TD Cowen cut their target price on Ichor from $48.00 to $35.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Oppenheimer initiated coverage on Ichor in a research note on Wednesday. They issued a market perform rating and a $35.00 target price for the company. Finally, Needham & Company LLC cut their target price on Ichor from $44.00 to $40.00 and set a buy rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $43.29.

Ichor Trading Up 0.2 %

Shares of ICHR stock opened at $31.86 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.27 and a quick ratio of 1.91. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -17.99 and a beta of 1.91. The stock has a 50 day simple moving average of $30.34 and a 200-day simple moving average of $35.62. Ichor has a 1-year low of $22.26 and a 1-year high of $46.43.

Ichor (NASDAQ:ICHR) last announced its earnings results on Tuesday, August 6th. The technology company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. The business had revenue of $203.23 million during the quarter, compared to the consensus estimate of $197.75 million. Ichor had a negative return on equity of 2.56% and a negative net margin of 4.53%. On average, equities research analysts expect that Ichor will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Ichor

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of Ichor by 68.5% during the 4th quarter. Wellington Management Group LLP now owns 291,389 shares of the technology company’s stock worth $9,799,000 after purchasing an additional 118,498 shares during the period. Vanguard Group Inc. boosted its holdings in Ichor by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 2,841,622 shares of the technology company’s stock valued at $109,743,000 after acquiring an additional 176,970 shares during the period. Mutual of America Capital Management LLC purchased a new position in Ichor during the 1st quarter valued at about $1,353,000. Epoch Investment Partners Inc. boosted its holdings in Ichor by 33.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 265,246 shares of the technology company’s stock valued at $10,244,000 after acquiring an additional 65,862 shares during the period. Finally, Swedbank AB purchased a new position in Ichor during the 1st quarter valued at about $67,106,000. 94.81% of the stock is currently 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.