2026-10-25
Ichor Holdings, clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
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latest tape · as of 18:04 UTC
The Screen · Technology · Semiconductor Equipment & Materials
Ichor Holdings, Ltd.
ICHR · Nasdaq · USD · Market cap $1.4B · 1,891 employees
Ichor Holdings, Ltd.
Not yet scored37.94 USD
Price as of 23 Oct 2026Daily close, not a live quoteLast reviewed 5 days ago
Screened 2026-10-23 · the tape above runs as of 18:04 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
- Price37.94 USD at the 23 Oct 2026 close
- Ethical screenNot yet scored
- OptionsOpen interest leans to puts (put/call 1.62)
- Last reviewed23 Oct 2026 (5 days ago)
A summary of the dated readings below, not a live quote and not advice.
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 37.94 against the desk's fair-value range, base estimate 51.11, over the last year.
- Trend Distribution
- Insiders no filings inside 60 days, left as found
- Positioning no disclosures inside 60 days, left as found
- Options put/call open interest 1.62, read 2026-10-27
- Ethical screen not yet scored
Price37.94 USD
Fair value51.11
Ethical score70.0/100
Our investment reviews on this name
2026-10-21Read Distribution46.65-18.7% to today ✓Accumulation gives way to Distribution after a 17% slide in 3 weeks
2026-10-02Read Accumulation56.14-32.4% to today Distribution gives way to Accumulation with volume flow in agreement
2026-09-01Read Distribution59.09-35.8% to today ✓Markup gives way to Distribution after a 32% slide in 9 weeks
2026-07-02Read Markup86.80-56.3% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
The full research record, in depth, below
This name holds its distribution label.
Ichor Holdings, Ltd. holds its Distribution at $37.94. Elevated stress, defensive posture warranted, held for 40 days.
| Phase | Distribution · caution |
| Quantitative state | Elevated stress, defensive posture warranted, held for 40 days |
| Price at the screen | $37.94 |
| Valuation | N/A trailing · 11.52 forward price to earnings |
| Values screen | Not scored · score 70.0 |
| Beta | 1.79 |
Five Screens, Shown in Full
This security has not been fully scored against the values screen yet.
| Test | Figure | Limit | What it means | Status |
|---|---|---|---|---|
| Business activity | Permissible | Core business clean | Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending. | Pass |
| Debt load | 16.99% | Below 33% | Interest-bearing debt is just 17.0% of its assets, well under the one-third ceiling: it does not run on borrowed money. | Pass |
| Interest-bearing cash | 0.00% | Below 33% | Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit. | Pass |
| Receivables | 17.90% | Below 49% | Money owed to the company is 17.9% of assets, under the 49% limit. | Pass |
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical ReadThe Read, in Plain English
Ichor Holdings, clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
2026-09-24
Clears
Ichor Holdings, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 17%, inside the ~33% line, and almost none of its income is interest, so it passes.
Earlier reads, kept as written. The ethical profile is tracked over time, not overwritten.
What the Numbers Say It Is WorthThe Fair Value Range
Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 35.0% margin of safety to the base estimate.
Third-party analyst targets: 8 covering, consensus Strong Buy. The average target sits +128% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & ProjectionsWhere it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain WordsChip gear makers face brutal boom bust cycles
Picture a factory floor that hums only when chipmakers splash out on new kit, then falls silent the moment orders dry up. Ichor sits right in that supply chain, building the fluid systems that feed semiconductor tools. At $82.87 the shares already price in a recovery that has not arrived, while our fair value sits at $50.90.
The business shows none of the usual signs that would justify paying up. Forward earnings sit at 30.7 times, revenue is crawling along at 5 percent, and both profit margins and return on equity are negative. In a cyclical industry those numbers often mark peak earnings dressed up as value, not a bargain.
Ethical checks clear, yet the combination of high multiples, weak returns and exposure to semiconductor spending swings leaves no margin of safety. We pass.
Analysis, not advice.
| Forward P/E | 11.5xcheap for a company growing this fast |
| EPS, trailing | -1.17 |
| EPS, forward | 3.29 |
| Revenue growth | +22.7%strong top-line growth |
| Profit margin | -4.0%currently unprofitable |
| Return on equity | -5.2%not currently earning a positive return on equity |
| FCF yield | 0.71% |
| Debt to equity | 0.18minimal debt: a conservative balance sheet |
| Current ratio | 3.70comfortably covers its short-term bills |
| Beta | 1.79much more volatile than the market |
| Short interest, float | 0.10% |
| 52-week range | 14.06 - 113.58 |
| Market cap | $1.4B |
| Employees | 1,891 |
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to TradeICHR trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
Every Entry, As Written
2026-10-28
Distribution $37.86
+0.0% Entry 11
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are up 279%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (7 analysts) rates it none, with a mean price target of $77. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27
Distribution $37.86
+0.0% Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are up 279%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (7 analysts) rates it none, with a mean price target of $77. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26
Distribution $37.86
-18.8% Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 18.8% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are up 279%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (7 analysts) rates it none, with a mean price target of $77. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21
Distribution · changed $46.65
-22.1% Entry 8
The framework has shifted from accumulation to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 22.1% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are up 279%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (7 analysts) rates it none, with a mean price target of $77.
2026-10-14
Accumulation $59.91
+6.7% Entry 7
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 6.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 107% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 279%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (7 analysts) rates it none, with a mean price target of $77. Since the last review it its composite score eased.
2026-10-02
Accumulation · changed $56.14
-5.0% Entry 6
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 5.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 107% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 279%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (7 analysts) rates it none, with a mean price target of $77. Since the last review it entered the Tech 100; its composite score rose; dropped out of the Tech 100.
2026-09-01
Distribution · changed $59.09
-28.7% Entry 5
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 28.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 107% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 279%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (7 analysts) rates it none, with a mean price target of $77.
2026-08-02
Markup $82.87
-4.5% Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 4.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 107% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 279%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (7 analysts) rates it none, with a mean price target of $77.
2026-07-18
Markup $86.80
+0.0% Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 107% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 279%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (7 analysts) rates it none, with a mean price target of $77.
2026-07-03
Markup $86.80
+0.0% Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
- What Ichor Shareholders Got Right Yahoo Finance · 4d ago
- Ichor's Supply-Chain Scaling Facing Near-Term Risks, Oppenheimer Says Yahoo Finance · 14d ago
- ASML Earnings Could Reset AI Chip Stock Expectations Yahoo Finance · 14d ago
- Ichor to Announce Third Quarter 2026 Financial Results on November 2nd Yahoo Finance · 21d ago
- 3 US AI Chip Stocks Tied To Rising Infrastructure Spending Yahoo Finance · 27d ago
Headlines from third-party outlets, linked for reference: not our reporting, not advice.
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| Period | Price then | Price return | Divs per share | $1,000 became | Total return |
|---|---|---|---|---|---|
| 1 month | $76.95 | -5.3% | · | $947 | -5.3% |
| 2 months | $57.50 | +26.8% | · | $1,268 | +26.8% |
| 3 months | $41.64 | +75.1% | · | $1,751 | +75.1% |
| 6 months | $18.69 | +290.0% | · | $3,900 | +290.0% |
| 1 year | $19.24 | +278.9% | · | $3,789 | +278.9% |
| 2 years | $37.93 | +92.2% | · | $1,922 | +92.2% |
| 3 years | $34.29 | +112.6% | · | $2,126 | +112.6% |
| 5 years | $55.16 | +32.2% | · | $1,322 | +32.2% |
Historical returns from market close data. Past performance does not guarantee future results.
This entry now belongs to the ledger. Whatever ICHR does next, these words stay.
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