DA Davidson Has Positive Outlook of Ichor FY2024 Earnings

Ichor Holdings, Ltd. (NASDAQ:ICHR - Free Report) - Equities research analysts at DA Davidson raised their FY2024 earnings per share (EPS) estimates for Ichor in a research note issued to investors on Tuesday, November 5th. DA Davidson analyst T. Diffely now expects that the technology company will post earnings of ($0.13) per share for the year, up from their previous 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 - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. Ichor had a negative return on equity of 2.18% and a negative net margin of 3.51%. The company had revenue of $211.14 million for the quarter, compared to analyst estimates of $203.24 million. During the same period in the previous year, the company posted ($0.09) EPS. The firm's revenue for the quarter was up 7.3% compared to the same quarter last year.

Several other research firms have also recently commented on ICHR. Oppenheimer began coverage on Ichor in a research report on Wednesday, September 25th. They set a "market perform" rating and a $35.00 target price for the company. Needham & Company LLC reduced their target price on Ichor from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. B. Riley reiterated a "buy" rating and issued a $38.00 price objective (up from $36.00) on shares of Ichor in a report on Tuesday. TD Cowen boosted their target price on Ichor from $35.00 to $40.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, StockNews.com upgraded Ichor from a "sell" rating to a "hold" rating in a research report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ichor has an average rating of "Moderate Buy" and an average price target of $42.57.

Ichor Price Performance

Ichor stock traded up $1.31 during midday trading on Thursday, hitting $33.83. 234,039 shares of the company's stock were exchanged, compared to its average volume of 305,955. Ichor has a 52-week low of $22.26 and a 52-week high of $46.43. The stock has a 50-day moving average price of $29.00 and a two-hundred 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. The company has a market cap of $1.14 billion, a P/E ratio of -36.38 and a beta of 1.91.

Hedge Funds Weigh In On Ichor

Several hedge funds have recently made changes to their positions in ICHR. Swedbank AB purchased a new position in shares of Ichor during the first quarter valued at approximately $67,106,000. Hood River Capital Management LLC purchased a new stake in Ichor in the first quarter worth $36,971,000. Westfield Capital Management Co. LP grew its stake in Ichor by 162.9% in the first quarter. Westfield Capital Management Co. LP now owns 335,867 shares of the technology company's stock worth $12,971,000 after purchasing an additional 208,117 shares during the period. 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 worth $109,743,000 after purchasing an additional 176,970 shares during the period. Finally, Millennium Management LLC purchased a new stake in Ichor in the second quarter worth $6,382,000. 94.81% of the stock is owned by hedge funds and other institutional investors.

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.