Ichor Holdings Ltd (ICHR) Expected to Announce Quarterly Sales of $144.99 Million

Analysts expect that Ichor Holdings Ltd (NASDAQ:ICHR) will announce $144.99 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Ichor’s earnings. The highest sales estimate is $145.17 million and the lowest is $144.80 million. Ichor reported sales of $182.94 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 20.7%. The company is expected to report its next earnings results on Wednesday, February 6th.

According to Zacks, analysts expect that Ichor will report full-year sales of $827.19 million for the current fiscal year, with estimates ranging from $827.00 million to $827.38 million. For the next year, analysts anticipate that the company will post sales of $781.68 million, with estimates ranging from $743.00 million to $822.05 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Ichor.

Ichor (NASDAQ:ICHR) last issued its earnings results on Tuesday, November 6th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Ichor had a net margin of 7.95% and a return on equity of 35.38%. The business had revenue of $175.20 million for the quarter, compared to analysts’ expectations of $179.84 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year.

A number of equities research analysts have issued reports on ICHR shares. Royal Bank of Canada lowered their target price on shares of Ichor from $40.00 to $33.00 and set a “$20.46” rating on the stock in a report on Wednesday, July 18th. Stifel Nicolaus set a $41.00 target price on shares of Ichor and gave the company a “buy” rating in a report on Tuesday, October 23rd. Zacks Investment Research cut shares of Ichor from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. Cowen lowered their target price on shares of Ichor from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Wednesday, November 7th. Finally, ValuEngine cut shares of Ichor from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $32.00.

In other news, CFO Jeff Andreson purchased 5,200 shares of Ichor stock in a transaction dated Monday, August 27th. The stock was purchased at an average cost of $24.22 per share, for a total transaction of $125,944.00. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $242,200. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ICHR. SG Americas Securities LLC purchased a new position in Ichor in the second quarter worth $146,000. Teachers Retirement System of The State of Kentucky purchased a new position in Ichor in the third quarter worth $159,000. State of Alaska Department of Revenue purchased a new position in Ichor in the third quarter worth $163,000. Engineers Gate Manager LP purchased a new position in Ichor in the second quarter worth $202,000. Finally, Capital Fund Management S.A. purchased a new position in Ichor in the second quarter worth $223,000. Hedge funds and other institutional investors own 82.77% of the company’s stock.

ICHR stock traded up $0.68 during midday trading on Friday, reaching $16.09. 47,577 shares of the company’s stock traded hands, compared to its average volume of 724,101. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.36 and a quick ratio of 1.03. Ichor has a 52 week low of $15.10 and a 52 week high of $34.78. The stock has a market capitalization of $365.65 million, a price-to-earnings ratio of 6.68 and a beta of 3.82.

About Ichor

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

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