Zacks Investment Research downgraded shares of Entegris (NASDAQ:ENTG) from a hold rating to a sell rating in a research report released on Thursday morning.
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 brokerages also recently weighed in on ENTG. Loop Capital boosted their price objective on Entegris from $35.00 to $40.00 and gave the company a buy rating in a research report on Friday, October 27th. Dougherty & Co boosted their price objective on Entegris from $33.00 to $36.00 and gave the company a buy rating in a research report on Friday, October 27th. Citigroup boosted their price objective on Entegris from $29.00 to $34.00 and gave the company a neutral rating in a research report on Friday, October 27th. Needham & Company LLC restated a buy rating and set a $35.00 target price on shares of Entegris in a report on Friday, October 27th. Finally, Seaport Global Securities initiated coverage on Entegris in a report on Friday, December 15th. They set a buy rating and a $37.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $32.55.
Entegris (NASDAQ:ENTG) last announced its quarterly earnings data 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 return on equity of 18.82% and a net margin of 10.73%. The firm had revenue of $345.60 million during the quarter, compared to the consensus estimate of $334.30 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business’s revenue was up 16.5% on a year-over-year basis. sell-side analysts forecast that Entegris will post 1.39 earnings per share for the current fiscal year.
In related news, Director Michael A. Bradley sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now owns 65,557 shares in the company, valued at $1,966,710. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Paul L. H. Olson sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $30.21, for a total value of $90,630.00. Following the transaction, the director now owns 45,364 shares of the company’s stock, valued at approximately $1,370,446.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,296 shares of company stock valued at $666,592. 1.50% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. KAMES CAPITAL plc raised its holdings in Entegris by 9.8% in the fourth quarter. KAMES CAPITAL plc now owns 199,516 shares of the semiconductor company’s stock worth $6,075,000 after purchasing an additional 17,816 shares in the last quarter. Wolverine Trading LLC raised its holdings in Entegris by 149.6% in the third quarter. Wolverine Trading LLC now owns 6,989 shares of the semiconductor company’s stock worth $202,000 after purchasing an additional 21,089 shares in the last quarter. California Public Employees Retirement System raised its holdings in Entegris by 9.0% in the third quarter. California Public Employees Retirement System now owns 175,646 shares of the semiconductor company’s stock worth $5,067,000 after purchasing an additional 14,546 shares in the last quarter. Vident Investment Advisory LLC bought a new position in Entegris in the third quarter worth $2,861,000. Finally, Royce & Associates LP bought a new position in Entegris in the third quarter worth $2,092,000. Institutional investors and hedge funds own 96.46% of the company’s stock.
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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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