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

Ichor Holdings Ltd (NASDAQ:ICHR) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 1,240,000 shares, a decline of 24.8% from the December 15th total of 1,650,000 shares. Based on an average trading volume of 337,100 shares, the short-interest ratio is presently 3.7 days. Currently, 5.6% of the shares of the stock are short sold.

In other Ichor news, COO Kevin M. Canty sold 1,000 shares of Ichor stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $32.80, for a total value of $32,800.00. Following the completion of the transaction, the chief operating officer now directly owns 46,379 shares of the company’s stock, valued at approximately $1,521,231.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of ICHR. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ichor by 81.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,995 shares of the technology company’s stock worth $48,000 after acquiring an additional 895 shares during the last quarter. Flinton Capital Management LLC grew its position in Ichor by 20.3% during the 2nd quarter. Flinton Capital Management LLC now owns 4,176 shares of the technology company’s stock worth $99,000 after acquiring an additional 704 shares during the last quarter. Riverhead Capital Management LLC grew its position in Ichor by 21.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,600 shares of the technology company’s stock worth $109,000 after acquiring an additional 800 shares during the last quarter. Bank of Montreal Can grew its position in Ichor by 83.9% during the 2nd quarter. Bank of Montreal Can now owns 4,734 shares of the technology company’s stock worth $112,000 after acquiring an additional 2,160 shares during the last quarter. Finally, Meadow Creek Investment Management LLC grew its position in Ichor by 20.3% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 5,742 shares of the technology company’s stock worth $136,000 after acquiring an additional 968 shares during the last quarter. Institutional investors own 85.69% of the company’s stock.

Several equities analysts have weighed in on the company. Needham & Company LLC lifted their price objective on Ichor to $36.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. DA Davidson upgraded Ichor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $25.00 to $34.00 in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price target on Ichor from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday. Cowen lifted their price target on Ichor from $26.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, November 6th. Finally, Zacks Investment Research lowered Ichor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $34.78.

Shares of ICHR traded up $8.89 during midday trading on Tuesday, hitting $39.79. The company’s stock had a trading volume of 2,333,715 shares, compared to its average volume of 483,071. Ichor has a one year low of $17.32 and a one year high of $39.83. The company’s fifty day simple moving average is $32.67 and its two-hundred day simple moving average is $27.12. The company has a quick ratio of 0.98, a current ratio of 1.90 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $691.49 million, a price-to-earnings ratio of 14.26 and a beta of 2.79.

Ichor (NASDAQ:ICHR) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.08. Ichor had a return on equity of 9.41% and a net margin of 1.09%. The company had revenue of $154.46 million for the quarter, compared to analyst estimates of $149.96 million. During the same quarter last year, the company posted $0.55 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, research analysts predict that Ichor will post 0.98 earnings per share for the current year.

Ichor Company Profile

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment. It primarily offers gas and chemical delivery subsystems that are used in the manufacturing of semiconductor devices. The company's gas delivery subsystems deliver, monitor, and control gases used in semiconductor manufacturing processes, such as etch and deposition; and chemical delivery subsystems blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes comprising electroplating and cleaning.

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