Jeff Andreson, the Chief Executive Officer of Ichor Holdings, Ltd. (NASDAQ:ICHR), has sold 42,800 ordinary shares of the company, according to a recent filing with the Securities and Exchange Commission. The shares were sold at an average price of $34.58, amounting to a total transaction value of approximately $1.48 million.
In addition to the sale, Andreson also acquired a total of 42,800 shares through the exercise of options. These shares were acquired at prices ranging from $24.05 to $24.89, with the total value of these transactions reaching around $1,035,052. Following these transactions, Andreson holds 267,437 shares directly.
The sales were made under a pre-established Rule 10b5-1 trading plan, which was implemented in anticipation of the expiration of the related options.
In other recent news, Ichor Holdings Ltd (NASDAQ:ICHR). reported a successful third quarter in 2024, with sales reaching $211 million, marking a 4% sequential growth and surpassing previous guidance. The earnings per share (EPS) stood at $0.12, with an improved gross margin of 13.6%. In the near future, Ichor anticipates a 7% to 10% revenue increase in the second half of 2024 over the first half, and projects a gross margin flow-through of over 30% in Q4 2024. The company expects Q4 revenue to be between $220 million and $235 million, with gross margins between 14.5% and 15.5%. Operating expenses are projected to remain around $22.5 million for Q4, while Ichor's cash position stood strong at $116 million at the end of Q3. Looking further ahead, Ichor anticipates overall growth in wafer fabrication equipment for 2025, driven by NAND and advanced packaging investments. However, the company also noted lower lithography and China WFE projections for 2025 and uncertainty about DRAM stability, despite no signs of decline. These developments are part of Ichor's recent financial performance and strategic outlook.
InvestingPro Insights
As Jeff Andreson, CEO of Ichor Holdings, Ltd. (NASDAQ:ICHR), executes significant stock transactions, investors may find additional context in recent financial data and expert insights. According to InvestingPro, Ichor's market capitalization stands at $1.08 billion, reflecting the company's current valuation in the semiconductor equipment industry.
InvestingPro Tips highlight that 7 analysts have revised their earnings upwards for the upcoming period, suggesting a potentially positive outlook for the company. This optimism aligns with another InvestingPro Tip indicating that analysts predict the company will be profitable this year, despite not being profitable over the last twelve months.
The company's financial health shows mixed signals. While Ichor operates with a moderate level of debt and its liquid assets exceed short-term obligations, it suffers from weak gross profit margins. This is reflected in the latest data showing a gross profit margin of 11.66% for the last twelve months as of Q3 2023.
Ichor's stock has shown strong performance recently, with a 1-month price total return of 18.48%. However, investors should note that stock price movements are quite volatile, as pointed out by InvestingPro Tips.
For those seeking a more comprehensive analysis, InvestingPro offers 5 additional tips not mentioned here, providing a deeper dive into Ichor's financial landscape.
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