On September 14, 2023, it was reported that Brandywine Global Investment Management LLC had increased its stake in Ichor Holdings, Ltd. by 10.2% during the first quarter of the year. According to a recent filing with the Securities and Exchange Commission (SEC), the investment management firm now owns 315,839 shares of Ichor’s stock, an additional 29,305 shares compared to the previous quarter. This move indicates Brandywine Global’s growing confidence in the technology company.
At the time of writing, Ichor Holdings’ shares on the NASDAQ exchange opened at $31.31 on Thursday. It is worth noting that over the past year, Ichor’s stock has seen a low of $21.03 and a high of $39.73, displaying some volatility within this period.
With a market capitalization of $917.38 million, Ichor Holdings operates in the technology sector and has a price-to-earnings ratio of 40.14, reflecting investor expectations for future growth opportunities. Additionally, it displays a beta value of 1.96, implying that it is more volatile than the broader market.
Examining its financials further, Ichor boasts a debt-to-equity ratio of 0.49, indicating moderate leverage in its operations. It also exhibits adequate liquidity ratios with a quick ratio of 1.75 and a current ratio of 4.25 as per its most recent filing with SEC.
Analyzing recent trends in Ichor’s stock performance reveals that its fifty-day simple moving average sits at $35.09 while its two-hundred-day simple moving average stands at $32.66.
These figures provide valuable insights into Ichor Holdings’ current financial standing and investor sentiment towards the company as per Brandywine Global Investment Management LLC’s recent activity regarding their stake increase.
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Institutional Investors Show Confidence in Ichor’s Potential Despite Insider Sales and Lower EPS
On September 14, 2023, several institutional investors and hedge funds made significant changes to their positions in the technology company Ichor. Macquarie Group Ltd., for example, increased its position in Ichor by 25.9% during the 1st quarter. They now own 1,232,284 shares of the company’s stock, which is valued at $40,345,000. Similarly, Alliancebernstein L.P. increased its position by 18.6% during the fourth quarter and now owns 1,456,238 shares valued at $39,056,000.
Millennium Management LLC also purchased a new position in Ichor during the 4th quarter worth around $4,995,000. Furthermore, Dimensional Fund Advisors LP lifted its stake in shares of Ichor by 13.5% in the 1st quarter and currently owns 1,458,873 shares with a value of $47,762,
000.Finally,Vanguard Group Inc.raised
the holdings Ichorby5.1%duringthe third quarter.Itnowowns2 ,264 ,156thesupportsticksofthe
company’sstockworth$54 ,816 ,000.Collectively,institutionalinvestorshaveacquiredover89
percentofthecompany’sstock.Theirinvestmentillustratesthe confidence they have placedinthe futureprospectsofIchor.
In other news related to Ichor’s stocks,a director named Thomas M.Rhors sold80 ,000sharesonAugust31statanaveragepriceof$36 ,78.Thetotalvaluehisactioncameupto$2 ,942 ,
400.Asaresultofthesale,the director now has a total of93 ,764 shares ofthe company’s stockworthapproximately $3 seh448 _,639 statL92 . The salewasmetwithaproper amountoffillage that was disclosed to the Securities & Exchange Commission. In addition, Chief Technology Officer Philip Ryan Sr. Barrossold14 ,965 shares for an average price of$34 atransactionthatoccurredonWednesday,
SeptemberthethirdFollowingthesale,theCxO,PhtlipRycanIsil Shawnorthe cofmpantlyow rs71 n485 sharesesonworth$1 , 980,933.IOhegrsploceurianfthr inafteres.
ThecontinuousactivitiesofIchor’s top insiderssellingcompanycontrol.Ichora group of their shareholdersc arted by corporate among they have sold a total of95 ,552sharesover the last90days.I researchersspects Theseindicate that2 .80percent stockreally owned by companies.firm rightisperception so frominsiders thatthecompany’sThebuyingselling trendsuperightsashares.
Moving on to Ichor’s financial performance, the company recently posted its quarterly earnings data on August 8, 2023. Unfortunately, they reported a decrease in earnings per share (EPS), coming in at ($0.12) and falling short of the consensus estimate of ($0.11). However, Ichor generated $185.01 million in revenue during the quarter, surpassing analysts’ expectations of $180.03 million.
Despite this setback in EPS, Ichor demonstrated a return on equity of 9.38% and maintained a net margin of 2.11%. Analysts predict that for the current year Ichor Holdings, Ltd. will post an EPS of 0.14.
Various research analysts have weighed in on Ichor’s stocks recently as well. StockNews.com upgraded Ichor from a “sell” rating to a “hold” rating on September 5th after reassessing their outlook on market trends impacting the technology sector.The Street also downgraded its rating from “b-” to “c+” on August 11th. Furthermore, Needham & Company LLC lowered their price target on Ichor from $42.00 to $40.00 on August 25th but maintained a “buy” rating for the company.
In summary, institutional investors have shown great interest in Ichor’s stocks recently, increasing their positions and purchasing new ones. This signifies the confidence these investors have in the company’s potential for growth and success in the future. However, there have been notable insider sales of shares as well. In terms of financial performance, Ichor reported lower than expected EPS but exceeded revenue expectations. Analysts are still optimistic about Ichor’s outlook and have given it a moderate buy rating with an average target price of $38.83 according to Bloomberg.com data
