Ichor Holdings Ltd. (ICHR) stock surged 23.78% during intraday trading on Tuesday, driven by the company's better-than-expected fourth-quarter financial results and a wave of positive analyst actions.

The semiconductor equipment maker reported quarterly earnings of $0.01 per share, significantly beating the analyst consensus estimate of a loss of $0.06 per share. Revenue of $223.606 million also exceeded expectations of $220.838 million. The company's strong performance and optimistic guidance for the first quarter have fueled investor optimism.

Following the earnings release, several Wall Street firms raised their ratings and price targets on Ichor Holdings. B. Riley Securities upgraded the stock to Buy from Neutral and raised its target price to $52 from $30. Needham maintained its Buy rating but increased its target to $48 from $36, while TD Cowen significantly raised its target to $55 from $22. Other firms including Oppenheimer and Stifel also lifted their price targets, reflecting growing confidence in the company's prospects.