Ichor (NASDAQ:ICHR) Trading Up 5.3% - Here's What Happened

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report) was up 5.3% during trading on Wednesday . The company traded as high as $33.43 and last traded at $33.42. Approximately 70,077 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 297,619 shares. The stock had previously closed at $31.73.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Oppenheimer began coverage on Ichor in a research report on Wednesday, September 25th. They set a "market perform" rating and a $35.00 price objective on the stock. B. Riley reiterated a "buy" rating and issued a $38.00 price objective (up previously from $36.00) on shares of Ichor in a research note on Tuesday, November 5th. DA Davidson initiated coverage on shares of Ichor in a research report on Thursday, September 26th. They set a "buy" rating and a $50.00 target price on the stock. Finally, TD Cowen lifted their price target on shares of Ichor from $35.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.57.

Ichor Price Performance

The company's 50-day moving average is $30.95 and its 200-day moving average is $32.57. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -33.58 and a beta of 1.93. The company has a current ratio of 3.64, a quick ratio of 1.69 and a debt-to-equity ratio of 0.18.

Ichor (NASDAQ:ICHR - Get Free Report) last released its earnings results on Monday, November 4th. The technology company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. The firm had revenue of $211.14 million during the quarter, compared to analysts' expectations of $203.24 million. During the same period in the prior year, the company earned ($0.09) earnings per share. The company's quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts predict that Ichor Holdings, Ltd. will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC bought a new stake in shares of Ichor during the 2nd quarter valued at approximately $6,382,000. Hood River Capital Management LLC boosted its position in Ichor by 15.8% in the second quarter. Hood River Capital Management LLC now owns 1,108,227 shares of the technology company's stock valued at $42,722,000 after buying an additional 150,933 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Ichor by 322.6% during the second quarter. Renaissance Technologies LLC now owns 164,400 shares of the technology company's stock worth $6,338,000 after buying an additional 125,500 shares during the last quarter. Royce & Associates LP grew its stake in shares of Ichor by 20.8% during the third quarter. Royce & Associates LP now owns 718,967 shares of the technology company's stock worth $22,870,000 after buying an additional 123,585 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in shares of Ichor by 26.8% during the third quarter. Segall Bryant & Hamill LLC now owns 568,117 shares of the technology company's stock worth $18,072,000 after buying an additional 120,133 shares in the last quarter. Institutional investors and hedge funds 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.