Ichor (ICHR)
Builds gas and chemical delivery systems and precision components for semiconductor equipment makers.
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Designs and manufactures gas and chemical delivery subsystems, valves, weldments, flow controls, and precision-machined parts for semiconductor equipment makers. Revenue comes mainly from purchase orders placed by a concentrated set of OEM customers, tying demand to chip-fabrication equipment spending.
Designs, engineers, and manufactures critical gas- and chemical-delivery subsystems used inside semiconductor process tools. Gas systems meter specialized gases for etch and deposition; chemical systems blend and dispense liquids for cleaning, plating, and planarization. The portfolio also spans weldments and specialty joining, diaphragm valves, advanced flow control, and precision-machined components, with a smaller aerospace and defense presence.
Works with equipment manufacturers early in product design, then qualifies, assembles, and tests customized systems through facilities in the United States, Singapore, Malaysia, and Mexico. Manufacturing near major customers supports configuration changes and short delivery cycles.
Operates as one segment and sells mainly through purchase orders rather than committed volumes. Demand follows cyclical semiconductor equipment spending, while Lam Research and Applied Materials account for most sales.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 5, 2026 | D.A. Davidson | Target | Target: $53 | Target: $85 |
| Aug 4, 2026 | Needham | Reiterate | Rating: —Target: $72 | Target: $88 |
| Jul 10, 2026 | Stifel Nicolaus | Target | Target: $76 | Target: $115 |
| May 5, 2026 | Needham | Reiterate | Rating: —Target: $48 | Target: $72 |
| May 1, 2026 | Stifel Nicolaus | Target | Target: $30 | Target: $76 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 26, 2026Cash & short-term investments $256.5M · Total debt $154.1M · Total assets $1.19B · Shareholders' equity $865.5M
- Revenue
- $294.8M
- Operating income
- $7.2M
- Net income
- $998.0K
No dividends on record.
| Institutions | ≈ 95.87% | 33.43M shares | |
|---|---|---|---|
| 343 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 2.96% | 1.03M shares | |
| 13 holders · as of Sep 16, 2026 | |||
| Other | ≈ 1.17% | 410.1K shares | |
| remainder | |||
34.87M company shares as of Sep 6, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 15.26% | 5.32M | as of Jun 30, 2026 |
Invesco Ltd.Institution | 8.33% | 2.90M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.93% | 2.07M | as of Jun 30, 2026 |
Capital International InvestorsInstitution | 5.86% | 2.04M | as of Jun 30, 2026 |
Swedbank Robur Fonder ABInstitution | 5.59% | 1.95M | filed Mar 18, 2022 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 15, 2026 | Iain MacKenzie | director | −20,000 | $50.66 |
| Sep 8, 2026 | Greg Swyt | officer: Chief Financial Officer | −2,068 | $58.02 |
| Sep 1, 2026 | Bruce Ragsdale | officer: Chief Operating Officer | −10,587 | $51.93 |
| Aug 19, 2026 | Philip Ryan Sr. Barros | director, officer: Chief Executive Officer | −1,314 | $61.88 |
| Aug 18, 2026 | Iain MacKenzie | director | −9,933 | $65.76 |
- Ultra Clean
Closest peer in outsourced gas and fluid delivery
- MKS
Broader flow, vacuum, and process-control subsystem peer
- Benchmark Electronics
Precision-manufacturing and semicap assembly peer
- Celestica
WFE integration and precision-manufacturing rival
- Jabil
Large-scale manufacturing-services competitor in capital equipment
- Plexus
Complex manufacturing peer with semicap exposure
- Entegris
Adjacent high-purity fluid-management and filtration peer
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ichor | $57.35 | −0.15% | $2.00B | — | 22.3 | 2.0 | +22.7% |
| Ultra Clean | $75.35 | −1.57% | $3.43B | — | 14.8 | 1.6 | +24.3% |
| MKS | $260.19 | −0.07% | $17.59B | 41.5 | 16.6 | 4.0 | +28.3% |
| Benchmark Electronics | $83.03 | +0.97% | $2.95B | 55.9 | 25.9 | 1.0 | +17.7% |
| Celestica | $363.47 | +2.07% | $40.94B | 37.0 | 24.3 | 2.6 | +61.3% |
| Jabil | $306.93 | −0.66% | $32.38B | 38.6 | 19.5 | 1.0 | +11.8% |
| Plexus | $263.05 | −0.11% | $7.05B | 38.9 | 26.3 | 1.5 | +28.1% |
| Entegris | $151.01 | −0.07% | $23.04B | 75.9 | 33.7 | 6.9 | +11.5% |
| Median | 40.2 | 24.3 | 1.6 | +24.3% |