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ICHR

Ichor Holdings

$21.32

-0.57 (-2.60%)

09:04
08/20/18
08/20
09:04
08/20/18
09:04

Ichor Holdings announces $50M increase to share repurchase program

Ichor Holdings announced that its board of directors has authorized the repurchase of up to an additional $50M of the company's ordinary shares, incremental to the $50M of repurchases completed between February and July of 2018.This $50M increase in the share repurchase program is effective immediately and will be funded using a combination of our available cash, future cash flows, and incremental borrowing under our revolving credit facility. Share repurchases under this program may be made through open market or privately negotiated transactions, at times and in such amounts as the board and management deem appropriate, subject to market conditions and other factors, and in accordance with applicable regulatory requirements. The share repurchase program does not obligate us to repurchase any dollar amount or number of shares, and we may commence, suspend or discontinue purchases of ordinary shares under this authorization at any time or periodically without prior notice. As of June 29, 2018, the company had $63M in cash, $190M in total long-term debt, and approximately 25.3M shares outstanding. Given the share repurchases completed in the third quarter to date, we estimate our weighted-average fully-diluted share count to be 24.7M shares for Q3

  • 12

    Sep

ICHR Ichor Holdings
$21.32

-0.57 (-2.60%)

02/13/18
NEED
02/13/18
UPGRADE
Target $42
NEED
Strong Buy
Ichor Holdings upgraded to Strong Buy at Needham on stock price pullback
As reported earlier, Needham analyst Y. Edwin Mok upgraded Ichor Holdings to Strong Buy from Buy with a $42 price target. Mok notes that the selloff after a "solid" Q4 earnings report based on fears of a peaking business is unfounded, while the stock price already reflects some anticipated slowdown in earnings growth. The analyst adds that there are growth drivers being ignored by the market, such as revenue synergies from the company's acquisitions and the company's proprietary Liquid Delivery Module winning new designs.
02/15/18
COWN
02/15/18
NO CHANGE
COWN
Outperform
Applied Materials commentary positive for wafer fab companies, says Cowen
Cowen analyst Karl Ackerman said Applied Materials' (AMAT) commentary following its solid Q1 results is positive for wafer fabrication companies Ichor Holdings (ICHR) and Ultra Clean (UCTT). The commentary indicated a healthy wafer fab equipment environment through 2019, suggesting the strong selloff amid fears of a material deceleration in equipment spending is overblown. Ackerman raised his estimates and reiterated his Outperform rating on both Ichor Holdings and Ultra Clean shares.
03/26/18
NORL
03/26/18
INITIATION
Target $42
NORL
Outperform
Ichor Holdings initiated with an Outperform at Northland
Northland initiated Ichor Holdings with an Outperform and $42 price target.
04/05/18
DBAB
04/05/18
NO CHANGE
Target $38
DBAB
Buy
Ichor Holdings P/E ratio does not make sense, says Deutsche Bank
Deutsche Bank analyst Sidney Ho believes Ichor Holdings' (ICHR) price-to-earnings ratio at 5.5 times does not make sense. While Ichor may trade at a discount to its key customers at 11 times because of its market capitalization and high customer concentration, the current 50% valuation discount is unwarranted, Ho tells investors in a research note. He also does not see why Ichor should trade at a large discount to its closest competitor in the space, UCTT (UCTT). Ho reiterates a Buy rating on Ichor Holdings with a $38 price target.

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