Pinnacle Associates Ltd. Raises Stock Position in Ichor Holdings, Ltd. $ICHR

Pinnacle Associates Ltd. grew its holdings in shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 398,972 shares of the technology company’s stock after buying an additional 12,430 shares during the quarter. Pinnacle Associates Ltd. owned 1.16% of Ichor worth $6,990,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ICHR. Royal Bank of Canada grew its position in Ichor by 27.7% in the first quarter. Royal Bank of Canada now owns 9,891 shares of the technology company’s stock worth $224,000 after acquiring an additional 2,146 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ichor by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,645 shares of the technology company’s stock valued at $444,000 after purchasing an additional 865 shares during the period. Jane Street Group LLC raised its position in Ichor by 286.0% during the first quarter. Jane Street Group LLC now owns 53,277 shares of the technology company’s stock valued at $1,205,000 after purchasing an additional 39,476 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Ichor by 6.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 20,442 shares of the technology company’s stock valued at $401,000 after purchasing an additional 1,305 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Ichor by 143.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 515,638 shares of the technology company’s stock worth $10,127,000 after purchasing an additional 304,228 shares during the period. Institutional investors own 94.81% of the company’s stock.

Ichor Price Performance

Shares of ICHR stock opened at $41.73 on Tuesday. The company has a market capitalization of $1.45 billion, a P/E ratio of -27.10 and a beta of 1.76. The company’s 50-day simple moving average is $35.35 and its two-hundred day simple moving average is $24.19. Ichor Holdings, Ltd. has a one year low of $13.12 and a one year high of $55.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.16 and a quick ratio of 1.38.

Wall Street Analysts Forecast Growth

ICHR has been the subject of several recent analyst reports. Stifel Nicolaus set a $30.00 price objective on shares of Ichor in a research note on Tuesday, February 10th. DA Davidson lifted their price target on shares of Ichor from $30.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. TD Cowen reiterated a “buy” rating on shares of Ichor in a report on Tuesday, February 10th. Wall Street Zen raised shares of Ichor from a “strong sell” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, B. Riley Financial raised Ichor from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 10th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.57.

Insiders Place Their Bets

In other Ichor news, COO Bruce Ragsdale sold 21,276 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $49.66, for a total transaction of $1,056,566.16. Following the transaction, the chief operating officer directly owned 97,661 shares in the company, valued at $4,849,845.26. This represents a 17.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Philip Ryan Sr. Barros sold 21,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $46.63, for a total transaction of $979,230.00. Following the completion of the sale, the chief executive officer owned 153,936 shares of the company’s stock, valued at approximately $7,178,035.68. This represents a 12.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 120,259 shares of company stock worth $5,689,250. 1.90% of the stock is owned by company insiders.

About Ichor

Ichor Holdings Ltd. is a global supplier of critical subsystems used in the fabrication of semiconductor devices. The company specializes in the design, engineering and manufacturing of gas delivery systems, vacuum pumps and abatement solutions that manage process gases and by-products in wafer-processing tools. Its modular subsystems are designed to integrate with lithography, etch, deposition and cleaning equipment, helping to ensure precise control of gas flow, pressure and purity throughout the chip-manufacturing cycle.

Founded in the mid-1980s and headquartered in Fremont, California, Ichor has expanded its footprint across Asia, Europe and North America.