FY2024 Earnings Forecast for Ichor Issued By DA Davidson

Ichor Holdings, Ltd. (NASDAQ:ICHR) – Analysts at DA Davidson issued their FY2024 EPS estimates for Ichor in a research note issued to investors on Monday, January 27th. DA Davidson analyst T. Diffely anticipates that the technology company will post earnings per share of ($0.27) for the year. The consensus estimate for Ichor’s current full-year earnings is ($0.29) per share. DA Davidson also issued estimates for Ichor’s Q4 2024 earnings at ($0.04) EPS.

Ichor (NASDAQ:ICHR) last posted its earnings results on Monday, November 4th. The technology company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Ichor had a negative return on equity of 2.14% and a negative net margin of 3.51%. The business had revenue of $211.14 million during the quarter, compared to analyst estimates of $203.24 million. During the same quarter last year, the company earned ($0.09) EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year.

ICHR has been the subject of a number of other reports. TD Cowen reduced their price target on shares of Ichor from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Needham & Company LLC downgraded shares of Ichor from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, B. Riley reiterated a “buy” rating and set a $38.00 target price (up from $36.00) on shares of Ichor in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.29.

Ichor Price Performance

NASDAQ ICHR opened at $26.92 on Wednesday. Ichor has a one year low of $25.95 and a one year high of $46.43. The stock has a 50-day moving average of $31.86 and a 200 day moving average of $31.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.69 and a current ratio of 3.64. The company has a market capitalization of $908.01 million, a price-to-earnings ratio of -28.95 and a beta of 1.92.

Institutional Trading of Ichor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. bought a new stake in shares of Ichor during the 2nd quarter valued at $300,000. Thrivent Financial for Lutherans grew its holdings in Ichor by 8.8% during the second quarter. Thrivent Financial for Lutherans now owns 27,789 shares of the technology company’s stock valued at $1,071,000 after purchasing an additional 2,254 shares during the period. Marshall Wace LLP increased its position in Ichor by 1.9% in the second quarter. Marshall Wace LLP now owns 68,641 shares of the technology company’s stock worth $2,646,000 after buying an additional 1,288 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Ichor in the second quarter worth about $1,166,000. Finally, Millennium Management LLC purchased a new position in shares of Ichor during the 2nd quarter valued at about $6,382,000. 94.81% of the stock is owned by hedge funds and other institutional investors.

Ichor Company Profile

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.