Ichor (NASDAQ:ICHR) Shares Gap Down - Here's Why

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $32.00, but opened at $30.00. Ichor shares last traded at $29.95, with a volume of 34,838 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ICHR shares. DA Davidson assumed coverage on Ichor in a research report on Thursday, September 26th. They set a "buy" rating and a $50.00 price objective on the stock. Needham & Company LLC downgraded shares of Ichor from a "buy" rating to a "hold" rating in a research report on Monday. B. Riley reissued a "buy" rating and set a $38.00 target price (up previously from $36.00) on shares of Ichor in a research report on Tuesday, November 5th. Oppenheimer assumed coverage on shares of Ichor in a report on Wednesday, September 25th. They issued a "market perform" rating and a $35.00 price target on the stock. Finally, TD Cowen increased their price objective on Ichor from $35.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Ichor has a consensus rating of "Moderate Buy" and an average price target of $42.57.

Ichor Stock Down 4.5 %

The stock has a market capitalization of $1.03 billion, a PE ratio of -32.86 and a beta of 1.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.64 and a quick ratio of 1.69. The business's fifty day moving average price is $32.26 and its two-hundred day moving average price is $31.86.

Ichor (NASDAQ:ICHR - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.01. The business had revenue of $211.14 million for the quarter, compared to analyst estimates of $203.24 million. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. The company's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) earnings per share. On average, equities research analysts forecast that Ichor Holdings, Ltd. will post -0.1 EPS for the current fiscal year.

Institutional Trading of Ichor

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

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.