Ichor (US:ICHR)2021-06-11 19:15Company Overview - Ichor is a leading provider of critical fluid delivery subsystems and components for semiconductor capital equipment[6] - In 2020, Ichor's revenues were $914 million with $2.51 in EPS[6] Growth and Market Position - Ichor's 5-year CAGR is 26% compared to WFE growth of 13%[9] - Ichor is expanding its SAM (Served Addressable Market) by ~$2.5 billion through strategic acquisitions[9] - The company estimates its served markets in 2020 to be $4 billion[16] Financial Performance and Strategies - Ichor's revenue increased 47% year-over-year in 2020[9] - Q1 2021 EPS was up 46% on YoY revenue growth of 20%[23] - The company targets a gross margin of 19%-20% and an operating margin of 13%-14% in its target model[26] M&A Activities - Ichor acquired companies with deal values of $18 million, $50 million, and $130 million in 2016 and 2017 to expand its SAM and product offerings[18]