Millennium Management LLC Buys New Shares in Ichor Holdings, Ltd. (NASDAQ:ICHR)

Millennium Management LLC purchased a new position in Ichor Holdings, Ltd. (NASDAQ:ICHR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 165,555 shares of the technology company's stock, valued at approximately $6,382,000. Millennium Management LLC owned about 0.49% of Ichor as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICHR. Wellington Management Group LLP grew its stake in shares of Ichor by 68.5% in the fourth quarter. Wellington Management Group LLP now owns 291,389 shares of the technology company's stock worth $9,799,000 after acquiring an additional 118,498 shares during the last quarter. Vanguard Group Inc. grew its position in Ichor by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 2,664,652 shares of the technology company's stock valued at $89,612,000 after purchasing an additional 41,104 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Ichor by 39.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the technology company's stock valued at $102,000 after purchasing an additional 854 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Ichor by 197.8% in the first quarter. BNP Paribas Financial Markets now owns 24,042 shares of the technology company's stock worth $929,000 after buying an additional 15,968 shares during the last quarter. Finally, Mutual of America Capital Management LLC purchased a new position in Ichor in the first quarter worth about $1,353,000. Institutional investors own 94.81% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reduced their price target on shares of Ichor from $44.00 to $40.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. StockNews.com raised Ichor from a "sell" rating to a "hold" rating in a report on Wednesday, August 14th. DA Davidson assumed coverage on Ichor in a report on Thursday, September 26th. They set a "buy" rating and a $50.00 price target on the stock. Oppenheimer began coverage on Ichor in a report on Wednesday, September 25th. They issued a "market perform" rating and a $35.00 price objective for the company. Finally, TD Cowen decreased their target price on Ichor from $48.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Ichor has an average rating of "Moderate Buy" and an average target price of $43.29.

Ichor Stock Performance

ICHR stock traded up $0.66 during trading on Friday, reaching $29.66. The stock had a trading volume of 257,631 shares, compared to its average volume of 311,926. The stock's 50 day moving average is $29.61 and its two-hundred day moving average is $35.09. The firm has a market cap of $999.25 million, a PE ratio of -24.51 and a beta of 1.90. Ichor Holdings, Ltd. has a 52 week low of $22.26 and a 52 week high of $46.43. The company has a current ratio of 4.27, a quick ratio of 1.91 and a debt-to-equity ratio of 0.18.

Ichor (NASDAQ:ICHR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.02. Ichor had a negative net margin of 4.53% and a negative return on equity of 2.56%. The company had revenue of $203.23 million for the quarter, compared to the consensus estimate of $197.75 million. As a group, equities analysts anticipate that Ichor Holdings, Ltd. will post -0.17 earnings per share for the current year.

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.