Ichor Holdings price target raised to $42 from $38 at Needham

Needham raised the firm’s price target on Ichor Holdings to $42 from $38 and keeps a Buy rating on the shares. The company’s Q4 results were “mixed” as revenue topped estimates but earnings missed as the management attributed the EPS weakness to an unfavorable product mix and selling some component inventory at cost in order to accelerate debt pay-down, the analyst tells investors in a research note. Needham adds however that it recommends being long on subsystem stocks like Ichor ahead of OEM inventory restocking.