Summit Global Investments Takes Position in Ichor Holdings, Ltd. (NASDAQ:ICHR)

Summit Global Investments purchased a new position in shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,848 shares of the technology company’s stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in Ichor during the fourth quarter worth about $8,489,000. JPMorgan Chase & Co. lifted its holdings in shares of Ichor by 157.9% in the third quarter. JPMorgan Chase & Co. now owns 340,247 shares of the technology company’s stock worth $10,823,000 after acquiring an additional 208,328 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Ichor by 20.2% in the 4th quarter. Royce & Associates LP now owns 864,245 shares of the technology company’s stock valued at $27,846,000 after purchasing an additional 145,278 shares in the last quarter. Meros Investment Management LP increased its position in Ichor by 85.4% during the 3rd quarter. Meros Investment Management LP now owns 197,119 shares of the technology company’s stock worth $6,270,000 after purchasing an additional 90,791 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its stake in Ichor by 52.0% in the 4th quarter. Hodges Capital Management Inc. now owns 217,125 shares of the technology company’s stock valued at $6,996,000 after purchasing an additional 74,255 shares during the last quarter. Institutional investors and hedge funds own 94.81% of the company’s stock.

Insider Activity at Ichor

In related news, Director Jorge Titinger sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $32.04, for a total transaction of $96,120.00. Following the transaction, the director now directly owns 9,832 shares of the company’s stock, valued at approximately $315,017.28. This represents a 23.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by corporate insiders.

Ichor Trading Up 0.8 %

Shares of ICHR stock opened at $27.38 on Wednesday. The stock has a 50-day moving average of $29.53 and a 200-day moving average of $30.29. Ichor Holdings, Ltd. has a 1-year low of $24.61 and a 1-year high of $42.70. The stock has a market cap of $931.00 million, a price-to-earnings ratio of -42.12 and a beta of 1.91. The company has a current ratio of 3.34, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). Ichor had a negative net margin of 2.45% and a negative return on equity of 1.38%. On average, equities research analysts forecast that Ichor Holdings, Ltd. will post 1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ICHR. TD Cowen decreased their target price on shares of Ichor from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. StockNews.com cut Ichor from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Ichor in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.29.

Ichor 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.