Ichor Holdings, Ltd. (NASDAQ:ICHR) Sees Large Decrease in Short Interest

Ichor Holdings, Ltd. (NASDAQ:ICHR) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 2,261,421 shares, a decline of 18.5% from the January 29th total of 2,775,915 shares. Based on an average daily trading volume, of 1,636,265 shares, the days-to-cover ratio is currently 1.4 days. Currently, 6.7% of the company’s shares are short sold. Currently, 6.7% of the company’s shares are short sold. Based on an average daily trading volume, of 1,636,265 shares, the days-to-cover ratio is currently 1.4 days.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. B. Riley Financial upgraded shares of Ichor from a “neutral” rating to a “buy” rating in a report on Tuesday, February 10th. Needham & Company LLC lifted their price target on shares of Ichor from $36.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. DA Davidson upped their price objective on shares of Ichor from $30.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Craig Hallum reaffirmed a “buy” rating and set a $36.00 target price on shares of Ichor in a research note on Wednesday, January 14th. Finally, Stifel Nicolaus set a $30.00 price target on Ichor in a research report on Tuesday, February 10th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.57.

Ichor Stock Up 2.6%

Shares of NASDAQ ICHR traded up $1.16 during midday trading on Wednesday, hitting $46.65. The stock had a trading volume of 789,976 shares, compared to its average volume of 1,302,719. The business’s 50 day moving average is $33.97 and its 200-day moving average is $23.63. Ichor has a 52 week low of $13.12 and a 52 week high of $55.33. The company has a quick ratio of 1.38, a current ratio of 3.16 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.62 billion, a P/E ratio of -30.29 and a beta of 1.76.

Insider Buying and Selling

In other news, Director Thomas M. Rohrs sold 53,908 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $45.48, for a total value of $2,451,735.84. Following the completion of the transaction, the director owned 53,024 shares in the company, valued at $2,411,531.52. This trade represents a 50.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Greg Swyt sold 3,000 shares of Ichor stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $51.20, for a total value of $153,600.00. Following the sale, the chief financial officer owned 78,679 shares in the company, valued at $4,028,364.80. This represents a 3.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 120,259 shares of company stock valued at $5,689,250 over the last quarter. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC purchased a new position in Ichor in the 4th quarter worth about $26,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Ichor in the second quarter worth approximately $27,000. Hantz Financial Services Inc. raised its holdings in shares of Ichor by 64.8% during the fourth quarter. Hantz Financial Services Inc. now owns 1,500 shares of the technology company’s stock valued at $28,000 after purchasing an additional 590 shares during the last quarter. Danske Bank A S bought a new position in Ichor during the third quarter valued at approximately $28,000. Finally, Nisa Investment Advisors LLC lifted its position in Ichor by 1,060.9% during the second quarter. Nisa Investment Advisors LLC now owns 1,753 shares of the technology company’s stock valued at $34,000 after purchasing an additional 1,602 shares during the period. Hedge funds and other institutional investors own 94.81% of the company’s stock.

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.