Ichor (NASDAQ:ICHR) Shares Down 7.7% - Here's Why

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) traded down 7.7% on Wednesday . The company traded as low as $25.29 and last traded at $25.28. 60,207 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 321,356 shares. The stock had previously closed at $27.38.

Analyst Upgrades and Downgrades

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

Ichor Stock Performance

The company has a current ratio of 3.34, a quick ratio of 1.49 and a debt-to-equity ratio of 0.17. The company has a market cap of $788.53 million, a P/E ratio of -35.68 and a beta of 1.91. The business's 50 day simple moving average is $29.14 and its 200 day simple moving average is $30.21.

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Ichor (NASDAQ:ICHR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.14). Ichor had a negative net margin of 2.45% and a negative return on equity of 1.38%. Sell-side analysts predict that Ichor Holdings, Ltd. will post 1.01 earnings per share for the current fiscal year.

Insider Activity at Ichor

In related news, Director Jorge Titinger sold 3,000 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $32.04, for a total transaction of $96,120.00. Following the sale, the director now owns 9,832 shares of the company's stock, valued at $315,017.28. This represents a 23.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its stake in Ichor by 80.4% during the third quarter. Quarry LP now owns 1,566 shares of the technology company's stock worth $50,000 after buying an additional 698 shares during the period. KBC Group NV boosted its stake in shares of Ichor by 83.5% during the 4th quarter. KBC Group NV now owns 2,086 shares of the technology company's stock worth $67,000 after purchasing an additional 949 shares during the period. Globeflex Capital L P bought a new position in Ichor during the 4th quarter valued at about $93,000. Tower Research Capital LLC TRC raised its position in Ichor by 52.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,562 shares of the technology company's stock worth $147,000 after purchasing an additional 1,578 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ichor by 28.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company's stock valued at $153,000 after buying an additional 1,068 shares during the period. Hedge funds and other institutional investors own 94.81% of the company's stock.

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.