Ichor (NASDAQ:ICHR) Shares Gap Up Following Better-Than-Expected Earnings

Ichor Holdings, Ltd. (NASDAQ:ICHR - Get Free Report)'s stock price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $27.14, but opened at $31.50. Ichor shares last traded at $30.86, with a volume of 106,046 shares traded.

The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The company 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 2.56% and a negative net margin of 4.53%. Ichor's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned ($0.09) earnings per share.

Analyst Ratings Changes

Several research firms have issued reports on ICHR. Needham & Company LLC decreased their price objective on shares of Ichor from $44.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. StockNews.com upgraded Ichor from a "sell" rating to a "hold" rating in a report on Wednesday, August 14th. B. Riley reissued a "buy" rating and set a $38.00 target price (up previously from $36.00) on shares of Ichor in a report on Tuesday. Oppenheimer started coverage on Ichor in a research note 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 research note on Tuesday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.57.

Hedge Funds Weigh In On Ichor

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Ichor by 6.6% during the 1st 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 last quarter. Swedbank AB acquired a new stake in shares of Ichor during the first quarter valued at about $67,106,000. Hood River Capital Management LLC raised its stake in shares of Ichor by 15.8% in the 2nd quarter. Hood River Capital Management LLC now owns 1,108,227 shares of the technology company's stock valued at $42,722,000 after acquiring an additional 150,933 shares during the period. Pinnacle Associates Ltd. lifted its holdings in shares of Ichor by 2.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 498,955 shares of the technology company's stock worth $16,780,000 after acquiring an additional 10,761 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its position in shares of Ichor by 5.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 373,948 shares of the technology company's stock worth $14,416,000 after purchasing an additional 19,850 shares during the period. 94.81% of the stock is owned by hedge funds and other institutional investors.

Ichor Price Performance

The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -33.87 and a beta of 1.91. The company has a current ratio of 4.27, a quick ratio of 1.91 and a debt-to-equity ratio of 0.18. The company's fifty day moving average is $28.90 and its two-hundred day moving average is $33.76.

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.