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

Ichor Holdings, Ltd. (NASDAQ:ICHR) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 564,400 shares, a decline of 7.2% from the November 30th total of 608,000 shares. Based on an average daily volume of 261,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.7% of the shares of the stock are short sold.

Ichor Trading Up 3.9 %

Shares of ICHR stock traded up $1.22 during trading hours on Wednesday, hitting $32.22. 290,466 shares of the company were exchanged, compared to its average volume of 296,567. The firm has a fifty day moving average of $31.43 and a 200 day moving average of $32.10. The company has a quick ratio of 1.69, a current ratio of 3.64 and a debt-to-equity ratio of 0.18. Ichor has a 1 year low of $26.40 and a 1 year high of $46.43. The firm has a market cap of $1.09 billion, a PE ratio of -34.64 and a beta of 1.93.

Ichor (NASDAQ:ICHR) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $211.14 million for the quarter, compared to the consensus estimate of $203.24 million. Ichor had a negative net margin of 3.51% and a negative return on equity of 2.14%. Ichor’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.09) earnings per share. Analysts expect that Ichor will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. B. Riley reissued a “buy” rating and issued a $38.00 target price (up previously from $36.00) on shares of Ichor in a report on Tuesday, November 5th. Oppenheimer started coverage on shares of Ichor in a research note on Wednesday, September 25th. They issued a “market perform” rating and a $35.00 price objective on the stock. TD Cowen raised their target price on shares of Ichor from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, DA Davidson started coverage on shares of Ichor in a report on Thursday, September 26th. They issued a “buy” rating and a $50.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.57.

Institutional Investors Weigh In On Ichor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of Ichor by 99.5% during the 2nd quarter. Quarry LP now owns 868 shares of the technology company’s stock worth $33,000 after purchasing an additional 433 shares during the period. Amalgamated Bank grew its stake in Ichor by 6.1% during the second quarter. Amalgamated Bank now owns 10,025 shares of the technology company’s stock worth $386,000 after buying an additional 577 shares during the period. GAMMA Investing LLC increased its position in shares of Ichor by 136.2% in the third quarter. GAMMA Investing LLC now owns 1,084 shares of the technology company’s stock worth $34,000 after acquiring an additional 625 shares in the last quarter. Signaturefd LLC raised its stake in shares of Ichor by 214.6% in the 3rd quarter. Signaturefd LLC now owns 1,252 shares of the technology company’s stock valued at $40,000 after acquiring an additional 854 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ichor by 28.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,818 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,068 shares in the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.

Ichor Company Profile

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment in the United States and internationally. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices.