Ichor (NASDAQ:ICHR) Updates Q3 2019 Earnings Guidance

Ichor (NASDAQ:ICHR) updated its third quarter 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.25-0.31 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.35. The company issued revenue guidance of $145-155 million, compared to the consensus revenue estimate of $151.1 million.

A number of research firms recently weighed in on ICHR. B. Riley began coverage on Ichor in a report on Thursday, May 16th. They set a buy rating and a $32.00 target price on the stock. Cowen reissued an outperform rating and set a $26.00 target price (up from $24.00) on shares of Ichor in a report on Wednesday, May 8th. Zacks Investment Research lowered Ichor from a hold rating to a sell rating in a report on Tuesday, July 23rd. Northland Securities lowered Ichor from an outperform rating to a market perform rating and boosted their target price for the stock from $22.00 to $25.00 in a report on Wednesday, May 8th. Finally, DA Davidson downgraded Ichor from a buy rating to a neutral rating and reduced their price target for the company from $32.00 to $25.00 in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $27.38.

ICHR traded up $0.27 during trading on Tuesday, hitting $22.72. The stock had a trading volume of 230,055 shares, compared to its average volume of 319,303. The stock has a 50 day simple moving average of $24.10. The company has a market capitalization of $502.43 million, a price-to-earnings ratio of 8.14 and a beta of 2.70. Ichor has a one year low of $14.23 and a one year high of $27.12. The company has a current ratio of 2.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.98.

Ichor (NASDAQ:ICHR) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.06). The firm had revenue of $137.80 million during the quarter, compared to the consensus estimate of $135.39 million. Ichor had a net margin of 6.07% and a return on equity of 22.62%. The business’s revenue for the quarter was down 46.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, sell-side analysts expect that Ichor will post 1.09 EPS for the current fiscal year.

Ichor Company Profile

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment. It primarily offers gas and chemical delivery subsystems that are used in the manufacturing of semiconductor devices. The company's gas delivery subsystems deliver, monitor, and control gases used in semiconductor manufacturing processes, such as etch and deposition; and chemical delivery subsystems blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes comprising electroplating and cleaning.

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Earnings History and Estimates for Ichor (NASDAQ:ICHR)

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