Zacks Investment Research upgraded shares of Entegris, Inc. (NASDAQ:ENTG) from a hold rating to a strong-buy rating in a research note released on Thursday, October 19th. The firm currently has $35.00 price objective on the semiconductor company’s stock.
According to Zacks, “Entegris is a leading provider of materials management solutions to the microelectronics industry including, in particular, the semiconductor manufacturing and disk manufacturing markets. The company’s materials management solutions for the semiconductor industry assure the integrity of materials as they are handled, stored, processed and transported throughout the semiconductor manufacturing process. These solutions enable customers to protect their investment in work-in-process and finished devices. “
Several other research firms have also recently weighed in on ENTG. BidaskClub cut shares of Entegris from a buy rating to a hold rating in a research note on Friday, June 23rd. KeyCorp restated an outperform rating and set a $30.00 price target on shares of Entegris in a research note on Saturday, September 16th. Deutsche Bank AG assumed coverage on shares of Entegris in a research note on Wednesday, July 5th. They set a hold rating and a $24.00 price target for the company. Dougherty & Co raised their price target on shares of Entegris from $27.50 to $30.00 and gave the stock a buy rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus restated a buy rating and set a $29.00 price target (up previously from $28.00) on shares of Entegris in a research note on Sunday, July 30th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $32.10.
Entegris (NASDAQ:ENTG) traded up 0.94% during trading on Thursday, hitting $32.30. The stock had a trading volume of 1,071,590 shares. Entegris has a one year low of $15.30 and a one year high of $32.75. The stock’s 50-day moving average is $28.78 and its 200 day moving average is $25.56. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 38.41 and a beta of 1.52.
Entegris (NASDAQ:ENTG) last released its earnings results on Thursday, October 26th. The semiconductor company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.06. Entegris had a net margin of 10.73% and a return on equity of 19.20%. The business had revenue of $345.60 million during the quarter, compared to analysts’ expectations of $334.30 million. During the same quarter last year, the company earned $0.24 earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. Equities analysts anticipate that Entegris will post $1.33 earnings per share for the current year.
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The company also recently announced a special dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 1st will be paid a $0.07 dividend. The ex-dividend date is Tuesday, October 31st.
In related news, VP Corey Rucci sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $26.25, for a total value of $393,750.00. Following the completion of the sale, the vice president now owns 25,964 shares of the company’s stock, valued at $681,555. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Nicholas Burns sold 4,901 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $24.51, for a total transaction of $120,123.51. Following the completion of the sale, the director now directly owns 51,272 shares of the company’s stock, valued at approximately $1,256,676.72. The disclosure for this sale can be found here. In the last three months, insiders sold 27,651 shares of company stock valued at $708,491. 1.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Entegris by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 11,453,733 shares of the semiconductor company’s stock worth $251,409,000 after acquiring an additional 244,694 shares during the period. BlackRock Inc. grew its holdings in shares of Entegris by 15.8% in the 2nd quarter. BlackRock Inc. now owns 11,450,690 shares of the semiconductor company’s stock valued at $251,344,000 after buying an additional 1,564,866 shares during the period. FMR LLC grew its holdings in shares of Entegris by 54.8% in the 2nd quarter. FMR LLC now owns 3,904,882 shares of the semiconductor company’s stock valued at $85,712,000 after buying an additional 1,381,882 shares during the period. State Street Corp grew its holdings in shares of Entegris by 5.7% in the 2nd quarter. State Street Corp now owns 2,842,071 shares of the semiconductor company’s stock valued at $62,383,000 after buying an additional 152,890 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Entegris by 9.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,478,586 shares of the semiconductor company’s stock valued at $71,507,000 after buying an additional 211,759 shares during the period. 94.50% of the stock is owned by hedge funds and other institutional investors.
Entegris Company Profile
Entegris, Inc is a global developer, manufacturer and supplier of microcontamination control products, specialty chemicals and materials handling solutions for manufacturing processes in the semiconductor and other high-technology industries. The Company operates in three business segments: Specialty Chemicals and Engineered Materials (SCEM), Advanced Materials Handling (AMH) and Microcontamination Control (MC).
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