Ichor Holdings, Ltd. (ICHR) Expected to Post Quarterly Sales of $165.03 Million

Wall Street analysts expect Ichor Holdings, Ltd. (NASDAQ:ICHR) to report sales of $165.03 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ichor Holdings’ earnings, with estimates ranging from $165.00 million to $165.06 million. The company is scheduled to announce its next quarterly earnings report on Thursday, November 9th.

According to Zacks, analysts expect that Ichor Holdings will report full-year sales of $165.03 million for the current year, with estimates ranging from $643.82 million to $650.00 million. For the next year, analysts forecast that the firm will report sales of $742.76 million per share, with estimates ranging from $736.51 million to $749.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Ichor Holdings.

Ichor Holdings (NASDAQ:ICHR) last released its quarterly earnings results on Thursday, August 10th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $159.70 million during the quarter, compared to analysts’ expectations of $159.36 million. The business’s revenue for the quarter was up 67.4% on a year-over-year basis.

ICHR has been the subject of a number of analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $26.00 price objective (up from $24.00) on shares of Ichor Holdings in a report on Wednesday, August 9th. Stifel Nicolaus raised their price objective on shares of Ichor Holdings from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $26.00 price objective on shares of Ichor Holdings in a report on Friday, July 28th. Cowen and Company set a $25.00 price objective on shares of Ichor Holdings and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective (up from $21.00) on shares of Ichor Holdings in a report on Monday, May 1st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $27.17.

Ichor Holdings (NASDAQ:ICHR) traded up 0.30% during trading on Friday, hitting $19.81. The company had a trading volume of 292,325 shares. The company’s 50 day moving average price is $20.84 and its 200-day moving average price is $20.20. Ichor Holdings has a 12 month low of $9.76 and a 12 month high of $29.73. The company has a market cap of $497.53 million and a PE ratio of 11.39.

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In related news, CFO Maurice Eugene Carson sold 17,300 shares of Ichor Holdings stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $25.83, for a total transaction of $446,859.00. Following the completion of the transaction, the chief financial officer now directly owns 91,709 shares of the company’s stock, valued at approximately $2,368,843.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip Ryan Sr. Barros sold 35,650 shares of Ichor Holdings stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $25.84, for a total transaction of $921,196.00. Following the transaction, the insider now directly owns 32,090 shares of the company’s stock, valued at $829,205.60. The disclosure for this sale can be found here. Insiders have sold a total of 5,693,447 shares of company stock valued at $105,936,058 over the last three months. 5.80% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Pier Capital LLC purchased a new position in shares of Ichor Holdings during the first quarter valued at about $1,933,000. Russell Investments Group Ltd. increased its position in shares of Ichor Holdings by 1,091.6% in the second quarter. Russell Investments Group Ltd. now owns 296,739 shares of the technology company’s stock valued at $5,982,000 after buying an additional 271,836 shares in the last quarter. Norges Bank purchased a new position in shares of Ichor Holdings during the fourth quarter valued at about $541,000. Hancock Holding Co. purchased a new position in shares of Ichor Holdings during the first quarter valued at about $202,000. Finally, Whittier Trust Co. purchased a new position in shares of Ichor Holdings during the second quarter valued at about $485,000. 68.53% of the stock is owned by hedge funds and other institutional investors.

About Ichor Holdings

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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