Ichor Holdings reported its fourth-quarter and fiscal year 2024 financial results, which led to a significant increase in its share price. The company experienced strong demand across its product lines, particularly in the advanced etch and deposition markets, contributing to a notable revenue increase compared to the previous quarter. CEO Jeff Andreson highlighted a recovery in demand for DRAM and NAND applications, which has been encouraging for the company's growth prospects. Despite challenges with higher labor costs and inventory charges impacting gross margins, Ichor remains optimistic about future demand and is investing in manufacturing capabilities to support anticipated growth.
CFO Greg Swyt noted that the company's revenue for the fourth quarter exceeded expectations, and while gross margins were affected by operational challenges, improvements are expected in the coming quarters. The positive outlook and strategic investments have bolstered investor confidence, contributing to the stock's upward movement.
Ichor (ICHR) shares are up 12.32% to $31.685 as of 1:53 pm on February 5th, rising from its previous close of $28.21 on February 4th.