Ichor (NASDAQ:ICHR) Updates Q2 2024 Earnings Guidance

Ichor (NASDAQ:ICHR) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of -0.030-0.090 for the period, compared to the consensus EPS estimate of 0.130. The company issued revenue guidance of $190.0 million-$205.0 million, compared to the consensus revenue estimate of $201.3 million.

Ichor Trading Up 0.3 %

ICHR stock traded up $0.12 during midday trading on Thursday, hitting $37.98. The stock had a trading volume of 254,388 shares, compared to its average volume of 308,005. The firm has a market cap of $1.25 billion, a P/E ratio of -25.84 and a beta of 1.98. The company has a current ratio of 4.06, a quick ratio of 1.57 and a debt-to-equity ratio of 0.43. The business has a fifty day moving average price of $38.91 and a two-hundred day moving average price of $34.64. Ichor has a 1-year low of $22.26 and a 1-year high of $46.43.

Ichor (NASDAQ:ICHR) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.13). Ichor had a negative return on equity of 0.88% and a negative net margin of 5.30%. The company had revenue of $203.48 million for the quarter, compared to analyst estimates of $197.50 million. On average, sell-side analysts predict that Ichor will post 0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ICHR has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of Ichor from $40.00 to $45.00 and gave the company a buy rating in a report on Tuesday, April 16th. Craig Hallum reduced their price objective on Ichor from $55.00 to $50.00 and set a buy rating for the company in a research note on Wednesday. TD Cowen upped their target price on Ichor from $42.00 to $48.00 and gave the stock a buy rating in a research report on Wednesday. Needham & Company LLC reissued a hold rating and issued a $42.00 price target on shares of Ichor in a research report on Wednesday. Finally, B. Riley raised shares of Ichor from a neutral rating to a buy rating and raised their price objective for the company from $40.00 to $48.00 in a research note on Friday, April 19th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Ichor has a consensus rating of Moderate Buy and an average target price of $46.60.

Insider Activity at Ichor

In related news, insider Christopher Smith sold 23,433 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $45.08, for a total transaction of $1,056,359.64. Following the completion of the sale, the insider now directly owns 70,329 shares of the company’s stock, valued at $3,170,431.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Christopher Smith sold 23,433 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $45.08, for a total transaction of $1,056,359.64. Following the completion of the sale, the insider now owns 70,329 shares in the company, valued at $3,170,431.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas M. Rohrs sold 50,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $45.37, for a total transaction of $2,268,500.00. Following the transaction, the director now directly owns 43,764 shares of the company’s stock, valued at $1,985,572.68. The disclosure for this sale can be found here. Insiders have sold 80,659 shares of company stock valued at $3,652,848 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

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 and internationally. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices.