Entegris (NASDAQ:ENTG) Stock Rating Raised to Strong-Buy at Truist Financial

Truist Financial upgraded shares of Entegris (NASDAQ:ENTG) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks reports.

A number of other brokerages have also recently issued reports on ENTG. Citigroup lifted their price objective on shares of Entegris from $195.00 to $200.00 and gave the company a “buy” rating in a report on Friday, October 30th. UBS Group upped their target price on shares of Entegris from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Stifel Nicolaus started coverage on shares of Entegris in a research report on Wednesday, October 7th. They issued a “buy” rating and a $200.00 price target on the stock. Wall Street Zen downgraded Entegris from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Freedom Capital raised Entegris to a “strong-buy” rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $187.17.

Entegris Stock Performance

NASDAQ ENTG opened at $138.57 on Tuesday. The company has a fifty day simple moving average of $146.32 and a 200 day simple moving average of $138.79. Entegris has a 12-month low of $67.97 and a 12-month high of $186.94. The company has a current ratio of 2.66, a quick ratio of 1.59 and a debt-to-equity ratio of 0.75. The company has a market cap of $21.17 billion, a P/E ratio of 54.13, a PEG ratio of 1.10 and a beta of 1.39.

Entegris (NASDAQ:ENTG) last announced its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.20. Entegris had a net margin of 11.14% and a return on equity of 13.86%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $925.35 million. During the same quarter in the previous year, the business posted $0.72 EPS. Entegris’s quarterly revenue was up 24.6% on a year-over-year basis. Sell-side analysts predict that Entegris will post 4.38 earnings per share for the current fiscal year.

Entegris Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders of record on Wednesday, October 28th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, October 28th. Entegris’s dividend payout ratio is 15.62%.

Entegris declared that its Board of Directors has approved a share repurchase plan on Monday, November 9th that permits the company to buy back $500 million in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 2.6% of its stock through open market purchases. Share buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Entegris

In other Entegris news, SVP Joseph Colella sold 3,916 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $164.48, for a total value of $644,103.68. Following the completion of the transaction, the senior vice president owned 50,297 shares in the company, valued at $8,272,850.56. This trade represents a 7.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Olivier Blachier sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $160.66, for a total transaction of $321,320.00. Following the transaction, the insider directly owned 34,997 shares of the company’s stock, valued at approximately $5,622,618.02. This represents a 5.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Entegris

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Entegris during the 2nd quarter valued at $3,683,556,000. Primecap Management Co. CA purchased a new position in Entegris in the second quarter worth $562,141,000. Bank of America Corp DE purchased a new position in Entegris in the second quarter worth $489,403,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Entegris in the second quarter worth $486,101,000. Finally, Bank of New York Mellon Corp bought a new position in Entegris in the second quarter valued at $248,869,000.

Entegris Company Profile

Entegris, Inc. supplies advanced materials and process solutions used in semiconductor manufacturing and other high-technology industries. Its products help customers control contamination and manage materials throughout complex manufacturing processes. The company’s offerings include specialty chemicals and gases, filtration and purification systems, fluid and gas handling products, and wafer handling and storage solutions. Entegris also provides related services and technologies designed to support the production of semiconductor devices and other advanced products.