The Ichor Holdings, Ltd. (ICHR) Upgraded to “Buy” by Zacks Investment Research

The Ichor Holdings, Ltd. (ICHR) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) from a hold rating to a buy rating in a research note published on Thursday morning. Zacks Investment Research currently has $34.00 price objective on the technology company’s stock.

According to Zacks, “Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. Ichor Holdings, Ltd. is based in Fremont, United States. “

ICHR has been the topic of several other reports. Stifel Nicolaus increased their price objective on shares of Ichor Holdings from $24.00 to $26.00 and gave the company a buy rating in a report on Monday, July 10th. Deutsche Bank AG restated a buy rating and issued a $32.00 price objective (up from $26.00) on shares of Ichor Holdings in a report on Tuesday. Needham & Company LLC restated a positive rating and issued a $30.00 price objective (up from $25.00) on shares of Ichor Holdings in a report on Monday, July 31st. Cowen and Company restated an outperform rating and issued a $27.00 price objective (up from $25.00) on shares of Ichor Holdings in a report on Wednesday, August 9th. Finally, Royal Bank Of Canada restated an outperform rating and issued a $27.00 price objective (up from $26.00) on shares of Ichor Holdings in a report on Wednesday, August 9th. Six research analysts have rated the stock with a buy rating, The stock has an average rating of Buy and a consensus price target of $31.33.

Ichor Holdings (NASDAQ:ICHR) last announced its quarterly earnings data on Thursday, August 10th. The technology company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by ($0.02). The company had revenue of $159.70 million for the quarter, compared to analyst estimates of $159.36 million. The company’s revenue for the quarter was up 67.4% compared to the same quarter last year.

In related news, CEO Thomas M. Rohrs sold 130,767 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $19.57, for a total value of $2,559,110.19. Following the transaction, the chief executive officer now directly owns 125,558 shares in the company, valued at $2,457,170.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Maurice Eugene Carson sold 17,300 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $20.81, for a total transaction of $360,013.00. Following the completion of the transaction, the chief financial officer now owns 87,331 shares in the company, valued at $1,817,358.11. The disclosure for this sale can be found here. Insiders sold 6,534,817 shares of company stock worth $121,578,383 over the last 90 days. 5.80% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of ICHR. Bank of New York Mellon Corp bought a new stake in Ichor Holdings in the first quarter valued at approximately $376,000. TIAA CREF Investment Management LLC bought a new stake in Ichor Holdings in the first quarter valued at approximately $219,000. Geode Capital Management LLC increased its stake in Ichor Holdings by 538.3% in the first quarter. Geode Capital Management LLC now owns 70,649 shares of the technology company’s stock valued at $1,400,000 after purchasing an additional 59,581 shares in the last quarter. Symmetry Peak Management LLC bought a new stake in Ichor Holdings in the first quarter valued at approximately $397,000. Finally, Bank of Montreal Can bought a new stake in Ichor Holdings in the second quarter valued at approximately $3,020,000. 83.68% of the stock is owned by hedge funds and other institutional investors.

About Ichor Holdings

Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. The Company’s primary offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems, which are key elements of the process tools used in the manufacturing of semiconductor devices.

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