Ichor Holdings, Ltd. (NASDAQ:ICHR) Sees Significant Drop in Short Interest

Ichor Holdings, Ltd. (NASDAQ:ICHR) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 657,000 shares, a decrease of 7.3% from the October 31st total of 709,100 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily volume of 270,200 shares, the short-interest ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ICHR shares. Oppenheimer initiated coverage on shares of Ichor in a report on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 target price for the company. Needham & Company LLC cut their target price on Ichor from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. B. Riley reissued a “buy” rating and issued a $38.00 price target (up from $36.00) on shares of Ichor in a report on Tuesday, November 5th. TD Cowen increased their price objective on shares of Ichor from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded shares of Ichor from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ichor has a consensus rating of “Moderate Buy” and a consensus target price of $42.57.

Ichor Price Performance

Shares of NASDAQ ICHR traded up $2.64 during midday trading on Monday, reaching $35.40. 301,171 shares of the stock traded hands, compared to its average volume of 300,862. The company’s 50 day moving average is $30.34 and its 200 day moving average is $32.99. Ichor has a one year low of $25.32 and a one year high of $46.43. The stock has a market capitalization of $1.19 billion, a PE ratio of -38.06 and a beta of 1.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.64 and a quick ratio of 1.69.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $211.14 million during the quarter, compared to analysts’ expectations of $203.24 million. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.14%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted ($0.09) EPS. On average, equities research analysts anticipate that Ichor will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On Ichor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICHR. Quarry LP increased its position in shares of Ichor by 99.5% during the 2nd quarter. Quarry LP now owns 868 shares of the technology company’s stock valued at $33,000 after purchasing an additional 433 shares during the last quarter. GAMMA Investing LLC increased its position in Ichor by 136.2% during 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 last quarter. Signaturefd LLC raised its stake in shares of Ichor by 214.6% in the third quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock valued at $40,000 after acquiring an additional 854 shares during the period. CWM LLC raised its stake in shares of Ichor by 50.5% in the second quarter. CWM LLC now owns 1,540 shares of the technology company’s stock valued at $59,000 after acquiring an additional 517 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ichor by 28.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company’s stock worth $153,000 after acquiring an additional 1,068 shares during the last quarter. 94.81% of the stock is currently owned by hedge funds and other institutional investors.

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.