Entegris (NASDAQ:ENTG) Updates Q1 2024 Earnings Guidance

Entegris (NASDAQ:ENTG) updated its first quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.590-0.640 for the period, compared to the consensus earnings per share estimate of 0.620. The company issued revenue guidance of $755.0 million-$775.0 million, compared to the consensus revenue estimate of $786.6 million.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ENTG. StockNews.com cut shares of Entegris from a hold rating to a sell rating in a report on Thursday, February 22nd. KeyCorp increased their target price on shares of Entegris from $136.00 to $164.00 and gave the stock an overweight rating in a report on Thursday, February 15th. UBS Group raised their price target on shares of Entegris from $90.00 to $130.00 and gave the company a neutral rating in a report on Thursday, February 15th. Craig Hallum upgraded shares of Entegris from a hold rating to a buy rating and set a $150.00 price target on the stock in a report on Thursday, February 15th. Finally, The Goldman Sachs Group raised their price target on shares of Entegris from $104.00 to $147.00 and gave the company a buy rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $141.64.

Entegris Stock Performance

Shares of Entegris stock opened at $140.41 on Thursday. The firm has a market capitalization of $21.16 billion, a P/E ratio of 117.99 and a beta of 1.32. The company has a quick ratio of 2.67, a current ratio of 3.85 and a debt-to-equity ratio of 1.35. The company has a 50 day moving average price of $133.13 and a 200 day moving average price of $113.62. Entegris has a 52 week low of $69.37 and a 52 week high of $146.91.

Entegris (NASDAQ:ENTG) last announced its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.59 by $0.06. The firm had revenue of $812.30 million during the quarter, compared to analyst estimates of $780.95 million. Entegris had a net margin of 5.13% and a return on equity of 12.00%. Entegris’s revenue was down 14.1% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. Sell-side analysts expect that Entegris will post 3.31 EPS for the current year.

Entegris Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, January 31st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Tuesday, January 30th. Entegris’s payout ratio is currently 33.61%.

Insiders Place Their Bets

In other Entegris news, CAO Michael Sauer sold 1,897 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $132.54, for a total transaction of $251,428.38. Following the completion of the transaction, the chief accounting officer now directly owns 1,779 shares of the company’s stock, valued at approximately $235,788.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Entegris news, SVP Michael Besnard sold 12,667 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $135.78, for a total transaction of $1,719,925.26. Following the completion of the transaction, the senior vice president now directly owns 10,213 shares of the company’s stock, valued at approximately $1,386,721.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Michael Sauer sold 1,897 shares of Entegris stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $132.54, for a total transaction of $251,428.38. Following the transaction, the chief accounting officer now directly owns 1,779 shares of the company’s stock, valued at $235,788.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,082 shares of company stock valued at $5,606,849. 0.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Entegris

Several institutional investors have recently made changes to their positions in ENTG. Norges Bank purchased a new position in shares of Entegris during the 4th quarter valued at approximately $201,492,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Entegris by 30.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,168,727 shares of the semiconductor company’s stock valued at $1,458,058,000 after purchasing an additional 2,826,137 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Entegris by 3,490.1% during the 1st quarter. Ameriprise Financial Inc. now owns 1,036,093 shares of the semiconductor company’s stock valued at $84,970,000 after purchasing an additional 1,007,233 shares in the last quarter. Eagle Asset Management Inc. grew its position in shares of Entegris by 79.7% during the fourth quarter. Eagle Asset Management Inc. now owns 1,371,682 shares of the semiconductor company’s stock worth $87,965,000 after buying an additional 608,406 shares in the last quarter. Finally, Sands Capital Management LLC grew its position in shares of Entegris by 6.1% during the second quarter. Sands Capital Management LLC now owns 9,329,123 shares of the semiconductor company’s stock worth $1,033,853,000 after buying an additional 536,532 shares in the last quarter.

Entegris Company Profile

Entegris, Inc develops, manufactures, and supplies microcontamination control products, specialty chemicals, and advanced materials handling solutions in North America, Taiwan, China, South Korea, Japan, Europe, and Southeast Asia. It operates in three segments: Materials Solutions (MS); Microcontamination Control (MC); and Advanced Materials Handling (AMH).