Ichor (ICHR) Trading Down 10.8% After Insider Selling
Shares of Ichor Holdings, Ltd. (NASDAQ:ICHR) traded down 10.8% during trading on Tuesday following insider selling activity. The company traded as low as $23.46 and last traded at $23.61. 2,545,500 shares were traded during trading, an increase of 275% from the average session volume of 677,985 shares. The stock had previously closed at $26.47.
Specifically, CEO Thomas M. Rohrs sold 130,767 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $27.85, for a total transaction of $3,641,860.95. Following the transaction, the chief executive officer now directly owns 173,090 shares in the company, valued at $4,820,556.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Philip Ryan Sr. Barros sold 35,650 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $26.37, for a total transaction of $940,090.50. Following the transaction, the insider now owns 32,090 shares in the company, valued at $846,213.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 240,974 shares of company stock worth $6,653,367. Insiders own 5.80% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Ichor from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Friday, August 11th. Cowen lifted their price objective on shares of Ichor from $27.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, October 18th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Ichor in a research report on Tuesday, September 19th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $27.00 price objective (up from $26.00) on shares of Ichor in a research report on Wednesday, August 9th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $26.00 price objective (up from $24.00) on shares of Ichor in a research report on Wednesday, August 9th. Six analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $35.17.
The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.99 and a current ratio of 2.03. The firm has a market capitalization of $625.14 and a PE ratio of 12.03.
Ichor (NASDAQ:ICHR) last posted its quarterly earnings data on Thursday, November 9th. The technology company reported $0.62 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.62. Ichor had a net margin of 7.43% and a return on equity of 32.99%. The firm had revenue of $164.50 million for the quarter, compared to analyst estimates of $165.16 million. Ichor’s revenue for the quarter was up 55.6% on a year-over-year basis. equities research analysts forecast that Ichor Holdings, Ltd. will post 2.4 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Ichor in the third quarter valued at $107,000. C M Bidwell & Associates Ltd. acquired a new stake in Ichor in the second quarter valued at $162,000. The Manufacturers Life Insurance Company acquired a new stake in Ichor in the second quarter valued at $180,000. Royal Bank of Canada lifted its holdings in Ichor by 38.2% in the second quarter. Royal Bank of Canada now owns 9,400 shares of the technology company’s stock valued at $189,000 after acquiring an additional 2,600 shares during the period. Finally, Hancock Holding Co. lifted its holdings in Ichor by 1.2% in the second quarter. Hancock Holding Co. now owns 10,326 shares of the technology company’s stock valued at $208,000 after acquiring an additional 126 shares during the period. Hedge funds and other institutional investors own 75.49% of the company’s stock.
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Ichor Company Profile
Ichor Holdings, Ltd. is engaged in the design, engineering and manufacturing of critical fluid delivery subsystems for semiconductor capital equipment. The Company’s primary offerings include gas and chemical delivery subsystems, collectively known as fluid delivery subsystems, which are key elements of the process tools used in the manufacturing of semiconductor devices.
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