Ichor Holdings (NASDAQ: ICHR) stock tanked more than 15% in pre-market trading on Wednesday after the manufacturer of critical fluid delivery subsystems for semiconductor capital equipment announced preliminary Q4 revenues in the range of $300 million to $302 million, up 5% year-over-year. Analysts were expecting revenues of $335 million.
Jeffrey Andreson, ICHR’s CEO commented, “…we are currently witnessing quarter-over-quarter revenue declines that are modestly higher than what we were expecting a couple of months ago. With our current visibility, we expect first quarter 2023 revenues to be in the range of $210 to $240 million.”
Ichor’s Q1 revenue forecast is lower than analysts’ projections of $296.8 million.
Analysts are cautiously optimistic about ICHR stock with a Moderate Buy consensus rating based on two Buys and one Hold.
