Ichor (NASDAQ:ICHR) Shares Down 7.4% Following Analyst Downgrade

Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) traded down 7.4% on Tuesday after B. Riley Financial lowered their price target on the stock from $125.00 to $105.00. B. Riley Financial currently has a buy rating on the stock. Ichor traded as low as $69.03 and last traded at $74.2890. 414,745 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 1,044,368 shares. The stock had previously closed at $80.23.

A number of other brokerages also recently commented on ICHR. TD Cowen reiterated a “buy” rating on shares of Ichor in a report on Tuesday. Zacks Research downgraded shares of Ichor from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Oppenheimer raised their target price on shares of Ichor from $36.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ichor in a research note on Wednesday, June 24th. Finally, Stifel Nicolaus boosted their price target on Ichor from $76.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 10th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.71.

Insider Activity at Ichor

In related news, Director Marc Haugen sold 9,923 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $72.11, for a total value of $715,547.53. Following the sale, the director directly owned 16,162 shares of the company’s stock, valued at approximately $1,165,441.82. This trade represents a 38.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura A. Black sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $75.02, for a total transaction of $1,500,400.00. Following the completion of the sale, the director owned 20,462 shares of the company’s stock, valued at approximately $1,535,059.24. The trade was a 49.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 79,447 shares of company stock worth $5,678,621. Corporate insiders own 1.70% of the company’s stock.

Ichor News Roundup

Here are the key news stories impacting Ichor this week:

• Positive Sentiment: Ichor reported adjusted second-quarter earnings of $0.34 per share, above the $0.31 analyst consensus and well ahead of $0.03 a year earlier. Gross-margin gains helped offset weaker-than-expected revenue. ICHR Q2 Earnings Beat Estimates on Margin Gains, Revenues Rise Year over Year
• Positive Sentiment: Third-quarter guidance exceeded expectations: revenue of $315 million to $345 million versus consensus of $313.8 million, and EPS of $0.40 to $0.50 versus $0.39 expected. Management expects second-half volumes to be at least 25% above the first half as supply constraints ease and semiconductor-related demand improves. Ichor Q3 Revenue and Margin Outlook
• Positive Sentiment: Needham raised its price target to $88 from $72 and maintained a Buy rating. B. Riley also maintained Buy, although it reduced its target to $105 from $125. Needham Raises Ichor Price Target
• Neutral Sentiment: Management highlighted a steeper second-half ramp, improving quarterly margins and stronger potential growth in 2027 as internal content increases and supply issues moderate. Ichor Earnings Call Takeaways
• Negative Sentiment: Second-quarter revenue was $294.8 million, below the $300.2 million consensus, even though it increased about 24% year over year. The miss likely outweighs the EPS beat for short-term investors, particularly because GAAP profitability remains pressured and gross margin was only about 14%. Ichor Holdings Falls on Q2 Revenue Miss

Institutional Trading of Ichor

Several institutional investors have recently made changes to their positions in ICHR. Invesco Ltd. increased its stake in Ichor by 141.2% during the fourth quarter. Invesco Ltd. now owns 3,023,882 shares of the technology company’s stock worth $55,730,000 after acquiring an additional 1,770,425 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Ichor by 1,710.7% in the 3rd quarter. Millennium Management LLC now owns 855,011 shares of the technology company’s stock valued at $14,980,000 after purchasing an additional 807,792 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Ichor by 48.5% during the 4th quarter. Royce & Associates LP now owns 1,449,082 shares of the technology company’s stock worth $26,707,000 after purchasing an additional 473,440 shares during the period. J. Goldman & Co LP purchased a new stake in shares of Ichor during the 4th quarter worth about $6,663,000. Finally, Heartland Advisors Inc. acquired a new stake in Ichor during the 4th quarter worth approximately $5,529,000. 94.81% of the stock is owned by hedge funds and other institutional investors.

Ichor Stock Performance

The stock’s 50-day moving average is $85.71 and its 200-day moving average is $62.91. The company has a current ratio of 2.82, a quick ratio of 1.21 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -48.67 and a beta of 1.82.

Ichor (NASDAQ:ICHR) last announced its quarterly earnings results on Monday, August 3rd. The technology company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Ichor had a negative net margin of 5.28% and a negative return on equity of 1.10%. The firm had revenue of $294.78 million for the quarter, compared to analysts’ expectations of $300.17 million. During the same period in the previous year, the company posted $0.03 earnings per share. Ichor’s revenue was up 22.7% compared to the same quarter last year. Ichor has set its Q3 2026 guidance at 0.400-0.500 EPS. On average, analysts expect that Ichor Holdings, Ltd. will post 0.97 EPS for the current year.

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.