Ichor (NASDAQ:ICHR) Rating Increased to Buy at Stifel Nicolaus

Ichor (NASDAQ:ICHR) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $55.00 price target on the technology company’s stock, up from their prior price target of $30.00. Stifel Nicolaus’ target price would suggest a potential upside of 29.14% from the company’s previous close.

Other analysts have also issued reports about the stock. TD Cowen reaffirmed a “buy” rating on shares of Ichor in a research note on Tuesday, February 10th. Needham & Company LLC raised their target price 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 boosted their price target on shares of Ichor from $30.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Craig Hallum reaffirmed a “buy” rating and issued a $36.00 price target on shares of Ichor in a research report on Wednesday, January 14th. Finally, Zacks Research upgraded shares of Ichor from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ichor currently has an average rating of “Moderate Buy” and an average price target of $43.14.

Ichor Price Performance

Shares of ICHR stock opened at $42.59 on Tuesday. Ichor has a twelve month low of $13.12 and a twelve month high of $55.33. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -27.66 and a beta of 1.76. The stock has a fifty day simple moving average of $37.69 and a two-hundred day simple moving average of $25.07. The company has a current ratio of 3.16, a quick ratio of 1.38 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling

In other Ichor news, CFO Greg Swyt sold 3,000 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $51.20, for a total transaction of $153,600.00. Following the completion of the sale, the chief financial officer directly owned 78,679 shares of the company’s stock, valued at approximately $4,028,364.80. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Marc Haugen sold 19,875 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $49.71, for a total transaction of $987,986.25. Following the completion of the sale, the director owned 26,085 shares in the company, valued at $1,296,685.35. This represents a 43.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 120,259 shares of company stock valued at $5,689,250 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Linden Thomas Advisory Services LLC lifted its position in Ichor by 0.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 50,702 shares of the technology company’s stock valued at $934,000 after acquiring an additional 398 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Ichor by 64.8% in the fourth quarter. Hantz Financial Services Inc. now owns 1,500 shares of the technology company’s stock worth $28,000 after purchasing an additional 590 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Ichor by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 12,447 shares of the technology company’s stock worth $244,000 after purchasing an additional 666 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Ichor by 0.6% during the fourth quarter. AQR Capital Management LLC now owns 134,194 shares of the technology company’s stock worth $2,473,000 after purchasing an additional 817 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Ichor by 4.6% during the 1st 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 last quarter. 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.