Ichor Holdings, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Brian Chin from Stifel Nicolaus downgraded the rating on the stock to a Hold and gave it a $21.00 price target.
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Brian Chin has given his Hold rating due to a combination of factors affecting Ichor Holdings. The company’s recent third-quarter earnings fell short of expectations, mainly due to a decline in non-semiconductor capital equipment revenue. Additionally, the outlook for the fourth quarter was below forecasts, influenced by strong pull-ins from the third quarter, export restrictions to China, and softness in markets outside of etch and deposition.
Furthermore, the transition of Phil Barros from CTO to CEO marks a significant change in leadership, which adds an element of uncertainty as the company navigates this shift. While there is optimism about Ichor’s focus on improving manufacturing and product strategies, the year 2026 is anticipated to be a transitional period. Given the current valuation and the need for more concrete signs of margin improvement, Brian Chin has opted to monitor the situation closely, leading to the decision to downgrade the rating to Hold.
In another report released on October 28, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $24.00 price target.