Entegris Inc. (NASDAQ:ENTG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
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. “
Other equities research analysts have also issued research reports about the stock. Craig Hallum reissued a “buy” rating on shares of Entegris in a report on Thursday, July 28th. Citigroup Inc. upped their price objective on shares of Entegris from $14.50 to $18.00 and gave the company a “neutral” rating in a report on Thursday, July 28th. Dougherty & Co lowered shares of Entegris from a “buy” rating to a “neutral” rating in a report on Thursday, July 28th. Finally, Pacific Crest increased their target price on shares of Entegris from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.00.
Entegris (NASDAQ:ENTG) opened at 17.21 on Tuesday. The company’s 50 day moving average is $17.00 and its 200 day moving average is $14.86. Entegris has a 1-year low of $10.37 and a 1-year high of $17.73. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 26.89 and a beta of 1.83.
Entegris (NASDAQ:ENTG) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.08. Entegris had a net margin of 8.14% and a return on equity of 15.38%. The firm earned $303.10 million during the quarter, compared to analyst estimates of $278.93 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. Entegris’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast that Entegris will post $0.91 EPS for the current year.
In other Entegris news, Director Brian F. Sullivan sold 9,391 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $17.01, for a total transaction of $159,740.91. Following the completion of the transaction, the director now owns 103,213 shares of the company’s stock, valued at $1,755,653.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gregory B. Graves sold 37,896 shares of the stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $15.01, for a total transaction of $568,818.96. Following the transaction, the chief financial officer now directly owns 131,946 shares of the company’s stock, valued at approximately $1,980,509.46. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Adirondack Research & Management Inc. bought a new position in shares of Entegris during the first quarter valued at $439,000. Geode Capital Management LLC raised its position in Entegris by 6.1% in the first quarter. Geode Capital Management LLC now owns 971,993 shares of the company’s stock valued at $13,238,000 after buying an additional 55,683 shares during the last quarter. Primecap Management Co. CA raised its position in Entegris by 0.3% in the first quarter. Primecap Management Co. CA now owns 5,240,850 shares of the company’s stock valued at $71,380,000 after buying an additional 14,200 shares during the last quarter. State Street Corp raised its position in Entegris by 2.6% in the first quarter. State Street Corp now owns 2,334,175 shares of the company’s stock valued at $31,787,000 after buying an additional 59,677 shares during the last quarter. Finally, Zebra Capital Management LLC raised its position in Entegris by 27.7% in the first quarter. Zebra Capital Management LLC now owns 48,106 shares of the company’s stock valued at $655,000 after buying an additional 10,441 shares during the last quarter. 98.39% of the stock is owned by institutional investors.
Entegris Company Profile
Entegris, Inc is a developer, manufacturer and supplier of materials and solutions for manufacturing processes in the semiconductor and other high-technology industries. The Company designs, manufactures and markets its products through two segments: Critical Materials Handling and Electronic Materials.
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