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Ichor Holdings CEO sells over $829k in company stock

Published 24/05/2024, 23:58
© Reuters.

Ichor Holdings, Ltd. (NASDAQ:ICHR) CEO Jeff Andreson recently engaged in significant trading of company shares, according to a new SEC filing. Andreson sold a total of 21,400 ordinary shares at a price of $38.74, netting $829,036. The transactions were executed under a pre-arranged 10b5-1 trading plan, which allows company insiders to set up a trading schedule in advance to avoid accusations of insider trading.

In addition to the sale, Andreson also acquired 18,000 shares at $24.05 and 3,400 shares at $24.89, totaling $517,526. These shares were purchased through the exercise of options that are part of the executive's compensation package.

The recent transactions have resulted in Andreson's direct ownership of 282,141 ordinary shares following the sale and 303,541 shares after the acquisitions. The options exercised by Andreson were part of a vesting schedule where 25% vested on specific dates with the remainder vesting quarterly over a three-year period.

Investors often monitor insider trading activities as a signal of the executive's confidence in the company's future performance. The sale and acquisition of shares by Ichor Holdings' CEO may be of particular interest to current and potential shareholders, reflecting both a realization of gains and a continued investment in the company's stock.

InvestingPro Insights

Ichor Holdings, Ltd. (NASDAQ:ICHR) CEO Jeff Andreson's recent trading activity coincides with several notable financial metrics and analyst insights that could be informative for investors. According to real-time data from InvestingPro, Ichor Holdings has a market capitalization of approximately $1.3 billion and a Price/Book ratio for the last twelve months as of Q1 2024 at 1.84, which suggests the stock is trading close to its book value.

InvestingPro Tips reveal that analysts have recently revised their earnings estimates downwards for the upcoming period, which may be a point of consideration for investors looking at the long-term value of the company. Additionally, the company has been highlighted for its volatile stock price movements, yet it has shown a large price uptick over the last six months, with a 47.02% return, which could indicate a positive trend in investor sentiment.

Despite not being profitable over the last twelve months, analysts predict the company will be profitable this year. This forward-looking optimism may be a contributing factor to the CEO's decision to increase his stake in the company through the exercise of options. It's also worth noting that Ichor Holdings does not pay a dividend to shareholders, which might be relevant for those investors seeking income-generating investments.

For investors seeking a deeper dive into Ichor Holdings' financial health and future prospects, InvestingPro offers additional tips and insights. Utilize coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and access the full list of tips that could help in making a more informed investment decision.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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