Entegris, Inc. (ENTG) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Entegris, Inc. (NASDAQ:ENTG) from a hold rating to a sell rating in a research note released on Friday 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. “

A number of other brokerages have also commented on ENTG. Needham & Company LLC started coverage on shares of Entegris in a report on Monday, November 21st. They set a hold rating on the stock. Dougherty & Co upgraded shares of Entegris from a neutral rating to a buy rating and set a $20.00 price objective on the stock in a report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $19.00.

Entegris (NASDAQ:ENTG) traded up 3.425% during midday trading on Friday, reaching $18.875. 294,044 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $18.16 and a 200 day moving average price of $16.76. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 30.008 and a beta of 1.45. Entegris has a 52 week low of $10.37 and a 52 week high of $18.95.

Entegris (NASDAQ:ENTG) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $296.70 million for the quarter, compared to analysts’ expectations of $292.68 million. Entegris had a net margin of 7.82% and a return on equity of 15.06%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. Analysts anticipate that Entegris will post $0.91 EPS for the current year.

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In other Entegris news, VP Stuart Tison sold 9,532 shares of Entegris stock in a transaction on Friday, November 4th. The shares were sold at an average price of $15.65, for a total value of $149,175.80. Following the sale, the vice president now directly owns 101,385 shares in the company, valued at approximately $1,586,675.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Todd James Edlund sold 7,207 shares of Entegris stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $18.22, for a total transaction of $131,311.54. Following the completion of the sale, the chief operating officer now owns 129,569 shares in the company, valued at $2,360,747.18. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. BlackRock Investment Management LLC raised its stake in shares of Entegris by 0.6% in the third quarter. BlackRock Investment Management LLC now owns 550,595 shares of the company’s stock valued at $9,591,000 after buying an additional 3,372 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Entegris by 55.9% in the third quarter. Nationwide Fund Advisors now owns 171,513 shares of the company’s stock valued at $2,988,000 after buying an additional 61,468 shares during the last quarter. Moody Aldrich Partners LLC raised its stake in shares of Entegris by 523.7% in the second quarter. Moody Aldrich Partners LLC now owns 132,405 shares of the company’s stock valued at $1,916,000 after buying an additional 111,175 shares during the last quarter. Shell Asset Management Co. acquired a new stake in shares of Entegris during the third quarter valued at about $578,000. Finally, Prudential Financial Inc. raised its stake in shares of Entegris by 257.8% in the third quarter. Prudential Financial Inc. now owns 585,773 shares of the company’s stock valued at $10,204,000 after buying an additional 422,080 shares during the last quarter. Hedge funds and other institutional investors own 98.05% of the company’s stock.

About Entegris

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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