Needham analyst Charles Shi has maintained their neutral stance on ICHR stock, giving a Hold rating yesterday.
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Charles Shi has given his Hold rating due to a combination of factors affecting Ichor Holdings. The company reported a mixed performance in the recent quarter, with revenues exceeding expectations but gross margins falling short of the guided range. This discrepancy was primarily attributed to a slowdown in the non-semiconductor business, which has impacted the company’s overall financial performance.
Looking ahead, the guidance for the next quarter suggests a decline in revenue, influenced by a reduced outlook from some of Ichor’s significant customers. Despite this, there is a noted improvement in demand for deposition and etching processes, indicating potential recovery in the upcoming quarters. However, the persistent challenges with gross margins have led Charles Shi to maintain a cautious stance, resulting in a Hold rating for the stock.
Shi covers the Technology sector, focusing on stocks such as Camtek, Ichor Holdings, and TSMC. According to TipRanks, Shi has an average return of 15.8% and a 52.72% success rate on recommended stocks.
In another report released yesterday, Stifel Nicolaus also downgraded the stock to a Hold with a $21.00 price target.