Ichor Holdings

ICHR · NASDAQ

$42.23−$1.69 (−3.85%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $43.92

ICHR analyst rating

BuyConsensus of 8 analysts over the last 12 months. 88% rate it a buy.

Strong buy0
Buy7
Hold1
Underperform0
Sell0

12-month price target · 9 analysts

Average $97.77 (+131.5% upside)

Low: $80.80
Now: $42.23
High: $120.75

Upgrades and downgrades

The latest rating actions, newest first

ICHR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Freedom Broker	Oct 9, 2026	Initiates	Buy	$82.00	26%
TD Cowen	Aug 4, 2026	Maintains	Buy	$115.00 → $100.00	56%
Oppenheimer	Aug 4, 2026	Maintains	Perform	$60.00 → $80.00	47%
B. Riley Securities	Aug 4, 2026	Maintains	Buy	$125.00 → $105.00	60%
Needham	Aug 4, 2026	Maintains	Buy	$72.00 → $88.00	58%
Stifel	Jul 10, 2026	Maintains	Buy	$76.00 → $115.00	69%
TD Cowen	Jul 9, 2026	Maintains	Buy	$80.00 → $115.00	56%
B. Riley Securities	Jun 18, 2026	Maintains	Buy	$90.00 → $125.00	60%
Oppenheimer	May 5, 2026	Maintains	Perform	$36.00 → $60.00	47%
TD Cowen	May 5, 2026	Maintains	Buy	$55.00 → $80.00	56%

The case for and against

Updated Sep 1, 2026

Bull case

Ichor Holdings is a leading fluid delivery subsystems manufacturer that specializes in gas panels, weldments, precision machining, and liquid delivery modules for wafer fab equipment (WFE) used in the semiconductor manufacturing process. The company's close proximity to key customers and its growing share of content in OEM equipment positions it well for long-term growth. The company's recent revenue growth and improved gross margin outlook indicate a strong performance and potential for further margin expansion. However, potential risks such as industry cyclicality, customer concentration, and geopolitical trade restrictions should be monitored. With its growing addressable market and improvements in revenue growth and margin expansion, Ichor Holdings is a Buy with a target price of $55, offering investors a potential upside.

Bear case

Ichor Holdings is expected to have a successful transition in 2026 thanks to cyclical business conditions and the actions taken by newly appointed CEO Phil Barros to improve gross margin progression. As a result, the company's revenue and margin trajectory is expected to surpass prior peak levels in CY27, positioning Ichor as a more critical and higher-value supplier. With an upgraded rating to Buy and a price target of $55, it's estimated that Ichor will achieve an EPS of ~23x in CY27, in line with other semicap supply chain companies.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.