The Ichor Holdings Ltd (NASDAQ: ICHR) has released its fourth-quarter and full-year 2020 reports. Sales at the company have increased at a double-digit rate and profits despite the shutdown of many plants due to COVID-19. According to GAAP, Ichor’s GAAP net income came in at $0.51, and the fourth quarter of revenue rose 29% from last year.
The company’s revenue rose 47 % to $ 914 million during the year. The GAAP margin was 13.7%. Operating cash flow amounted to 38 million dollars. The company reported a profit of $1.42 per diluted share. Ichor expects its fourth-quarter revenue to be between $ 245 million and $ 265 million and earn between $0.46 and $0.58 per share.
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A semiconductor manufacturer Ichor Holdings (ICHR)produces semiconductor manufacturing equipment. The Ichor Group manufactures and designs gas and liquid control systems for high-volume semiconductor manufacturing. There are high entry barriers for these systems because of their precision and the need for special materials, so Ichor does not face an intense competition level.
Ichor Holdings (ICHR)experienced growth in all market segments last year, especially the silicon wafer machinery market – the basis for chips. While the outbreaks of coronavirus spread, the business improved its profitability, and in 2021, Ichor’s management plans for a positive change in cash flow.
Looking at the overall sentiment toward this stock, we see that the community has adopted a bullish outlook. This view is also shared by analysts offering their forecasts for the stock over the next 12 months. According to 7 analysts, Ichor Holdings Ltd. (ICHR)’s consensus price target is $44.43, substantially above its current trading value.
According to analysts, the stock is expected to hit, high of $57.00 per share during the next 12 months. A downturn is likely to result in a low of $45.00. We found that the stock will move 16.42% away from the median price to reach the estimated average price when calculating the distance from the median price. An increase towards the 12-month high will bring the stock up 29.61%, while a decline to the 12-month low will result in the stock losing 10.84 percent of its current value.
Ichor Holdings Ltd. (NASDAQ: ICHR) shares were up 33.09% YTD and were down -0.15% in the latest trading session. Nevertheless, the stock’s trailing 12-month performance remains nearly 12.16 percent higher. Comparatively, the stock has gained 67.38% in the trailing three months. If we look at the short duration, its performance over the months is up 25.77% and 14.33%.