Cadence Capital Management LLC Takes Position in Ichor Holdings, Ltd. (ICHR)

Cadence Capital Management LLC acquired a new stake in Ichor Holdings, Ltd. (NASDAQ:ICHR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 49,950 shares of the technology company’s stock, valued at approximately $1,007,000. Cadence Capital Management LLC owned approximately 0.20% of Ichor Holdings as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Neuberger Berman Group LLC boosted its position in shares of Ichor Holdings by 67.2% in the first quarter. Neuberger Berman Group LLC now owns 768,484 shares of the technology company’s stock valued at $15,239,000 after buying an additional 308,937 shares in the last quarter. Russell Investments Group Ltd. boosted 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. Spark Investment Management LLC boosted its position in shares of Ichor Holdings by 982.6% in the first quarter. Spark Investment Management LLC now owns 192,700 shares of the technology company’s stock valued at $3,821,000 after buying an additional 174,900 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Ichor Holdings during the second quarter valued at about $3,020,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Ichor Holdings during the first quarter valued at about $2,275,000. 68.53% of the stock is currently owned by institutional investors.

Ichor Holdings, Ltd. (ICHR) opened at 19.88 on Friday. Ichor Holdings, Ltd. has a 52-week low of $9.81 and a 52-week high of $29.73. The stock has a market capitalization of $499.29 million and a P/E ratio of 11.43. The stock has a 50 day moving average of $20.81 and a 200 day moving average of $20.22.

Ichor Holdings (NASDAQ:ICHR) last posted its quarterly earnings results on Thursday, August 10th. The technology company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $159.70 million during the quarter, compared to analysts’ expectations of $159.36 million. The company’s revenue was up 67.4% compared to the same quarter last year. On average, equities research analysts forecast that Ichor Holdings, Ltd. will post $2.41 EPS for the current year.

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ICHR has been the topic of several recent research reports. Zacks Investment Research cut shares of Ichor Holdings from a “strong-buy” rating to a “sell” rating in a research note on Friday, July 7th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $24.00 price objective (up previously from $20.00) on shares of Ichor Holdings in a research note on Saturday, April 29th. Stifel Nicolaus lifted their price objective on shares of Ichor Holdings from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Cowen and Company set a $25.00 price objective on shares of Ichor Holdings and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Ichor Holdings in a research note on Friday, June 16th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Ichor Holdings currently has an average rating of “Buy” and an average price target of $27.17.

In other Ichor Holdings news, CEO Thomas M. Rohrs sold 130,767 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $19.57, for a total transaction of $2,559,110.19. Following the transaction, the chief executive officer now directly owns 125,558 shares in the company, valued at approximately $2,457,170.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip Ryan Sr. Barros sold 8,290 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $18.50, for a total value of $153,365.00. Following the transaction, the insider now owns 8,290 shares in the company, valued at $153,365. The disclosure for this sale can be found here. Insiders have sold a total of 6,518,447 shares of company stock worth $121,198,558 over the last 90 days. Company insiders own 5.80% of the company’s stock.

Ichor Holdings 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.