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

Entegris (NASDAQ:ENTG) was upgraded by research analysts at Truist Financial from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

A number of other analysts have also recently weighed in on ENTG. UBS Group boosted their target price on shares of Entegris from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Wall Street Zen cut Entegris from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Freedom Capital raised Entegris to a “strong-buy” rating in a report on Monday, August 3rd. The Goldman Sachs Group boosted their price objective on Entegris from $120.00 to $135.00 and gave the stock a “sell” rating in a research report on Friday, October 30th. Finally, Barclays upped their target price on Entegris from $212.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Entegris presently has an average rating of “Buy” and an average target price of $187.17.

Entegris Trading Down 1.1%

Shares of Entegris stock opened at $138.57 on Tuesday. The firm has a market capitalization of $21.17 billion, a PE ratio of 54.13, a price-to-earnings-growth ratio of 1.10 and a beta of 1.39. 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 firm’s 50 day moving average is $146.32 and its 200 day moving average is $138.79. Entegris has a 1 year low of $67.97 and a 1 year high of $186.94.

Entegris (NASDAQ:ENTG) last released its quarterly earnings data on Thursday, October 29th. The semiconductor company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.20. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $925.35 million. Entegris had a net margin of 11.14% and a return on equity of 13.86%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 EPS. Equities research analysts forecast that Entegris will post 4.38 earnings per share for the current fiscal year.

Entegris declared that its Board of Directors has initiated a share buyback program on Monday, November 9th that permits the company to buy back $500 million in outstanding shares. This repurchase authorization permits the semiconductor company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, SVP Joseph Colella sold 3,916 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $164.48, for a total value of $644,103.68. Following the sale, the senior vice president directly owned 50,297 shares of the company’s stock, valued at approximately $8,272,850.56. This represents a 7.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Olivier Blachier sold 2,000 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $160.66, for a total transaction of $321,320.00. Following the sale, the insider owned 34,997 shares of the company’s stock, valued at approximately $5,622,618.02. This trade represents a 5.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of Entegris

A number of large investors have recently bought and sold shares of the business. USS Investment Management Ltd lifted its stake in shares of Entegris by 24.0% in the 3rd quarter. USS Investment Management Ltd now owns 154,142 shares of the semiconductor company’s stock valued at $23,753,000 after purchasing an additional 29,863 shares during the period. Private Advisor Group LLC grew its stake in Entegris by 52.9% during the third quarter. Private Advisor Group LLC now owns 11,545 shares of the semiconductor company’s stock worth $1,779,000 after purchasing an additional 3,994 shares during the period. Ieq Capital LLC acquired a new stake in Entegris during the third quarter worth approximately $217,000. Voya Investment Management LLC grew its stake in Entegris by 158.0% during the third quarter. Voya Investment Management LLC now owns 389,381 shares of the semiconductor company’s stock worth $59,988,000 after purchasing an additional 238,455 shares during the period. Finally, Global Retirement Partners LLC increased its holdings in Entegris by 8.5% in the third quarter. Global Retirement Partners LLC now owns 3,742 shares of the semiconductor company’s stock worth $576,000 after purchasing an additional 294 shares in the last quarter.

About Entegris

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.