Pinnacle Associates Ltd. Buys 10,761 Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR)

Pinnacle Associates Ltd. boosted its stake in shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) by 2.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 498,955 shares of the technology company’s stock after purchasing an additional 10,761 shares during the quarter. Pinnacle Associates Ltd. owned about 1.49% of Ichor worth $16,780,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quarry LP grew its stake in Ichor by 99.5% in the 2nd quarter. Quarry LP now owns 868 shares of the technology company’s stock valued at $33,000 after buying an additional 433 shares during the last quarter. GAMMA Investing LLC grew its position in Ichor by 136.2% in the third quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock valued at $34,000 after acquiring an additional 625 shares during the period. Signaturefd LLC raised its stake in Ichor by 214.6% during the third quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock worth $40,000 after acquiring an additional 854 shares in the last quarter. CWM LLC boosted its stake in shares of Ichor by 50.5% in the 2nd quarter. CWM LLC now owns 1,540 shares of the technology company’s stock valued at $59,000 after purchasing an additional 517 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Ichor by 39.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,042 shares of the technology company’s stock worth $102,000 after purchasing an additional 854 shares in the last quarter. Institutional investors own 94.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Oppenheimer assumed coverage on Ichor in a report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price target for the company. TD Cowen cut their target price on shares of Ichor from $48.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC decreased their price objective on Ichor from $44.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. DA Davidson initiated coverage on shares of Ichor in a research note on Thursday, September 26th. They set a “buy” rating and a $50.00 price objective for the company. Finally, StockNews.com upgraded shares of Ichor from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.29.

Ichor Price Performance

NASDAQ ICHR traded down $0.15 during trading on Wednesday, hitting $28.17. 63,571 shares of the company’s stock were exchanged, compared to its average volume of 305,742. Ichor Holdings, Ltd. has a fifty-two week low of $22.26 and a fifty-two 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. The company has a market cap of $942.99 million, a PE ratio of -16.00 and a beta of 1.90. The stock’s 50 day moving average price is $29.17 and its two-hundred day moving average price is $34.10.

Ichor (NASDAQ:ICHR) last posted its earnings results on Tuesday, August 6th. The technology company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The firm had revenue of $203.23 million during the quarter, compared to the consensus estimate of $197.75 million. Ichor had a negative return on equity of 2.56% and a negative net margin of 4.53%. Research analysts expect that Ichor Holdings, Ltd. will post -0.17 EPS 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.