Entegris (NASDAQ:ENTG) Upgraded to Buy at Citigroup

Entegris (NASDAQ:ENTG) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat.com reports. The brokerage currently has a $130.00 target price on the semiconductor company’s stock, up from their prior target price of $119.00. Citigroup’s target price points to a potential upside of 17.47% from the company’s previous close.

ENTG has been the topic of several other reports. BMO Capital Markets reduced their target price on Entegris from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their target price on Entegris from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Mizuho raised Entegris from a “neutral” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Entegris in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.40.

Entegris Stock Up 2.3 %

Shares of ENTG opened at $110.67 on Monday. The company has a current ratio of 3.58, a quick ratio of 2.14 and a debt-to-equity ratio of 1.18. Entegris has a 12 month low of $84.13 and a 12 month high of $147.57. The firm’s 50 day moving average is $118.13 and its 200-day moving average is $128.48. The stock has a market capitalization of $16.71 billion, a PE ratio of 53.21, a P/E/G ratio of 1.49 and a beta of 1.24.

Entegris (NASDAQ:ENTG) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.01. The company had revenue of $812.60 million for the quarter, compared to analyst estimates of $802.43 million. Entegris had a return on equity of 12.03% and a net margin of 5.61%. Entegris’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. Equities research analysts forecast that Entegris will post 3.14 EPS for the current year.

Insider Activity

In other news, CEO Bertrand Loy sold 27,044 shares of Entegris stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $140.63, for a total transaction of $3,803,197.72. Following the sale, the chief executive officer now directly owns 263,068 shares of the company’s stock, valued at $36,995,252.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Bertrand Loy sold 27,044 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $140.63, for a total transaction of $3,803,197.72. Following the completion of the transaction, the chief executive officer now directly owns 263,068 shares in the company, valued at $36,995,252.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel D. Woodland sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $145.00, for a total value of $2,175,000.00. Following the transaction, the insider now owns 37,457 shares of the company’s stock, valued at $5,431,265. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,044 shares of company stock valued at $8,078,198. 0.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Entegris

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Entegris by 0.8% in the first quarter. Vanguard Group Inc. now owns 14,666,653 shares of the semiconductor company’s stock worth $2,061,251,000 after purchasing an additional 112,638 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Entegris by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,085,147 shares of the semiconductor company’s stock worth $1,838,988,000 after purchasing an additional 916,420 shares in the last quarter. Norges Bank bought a new stake in Entegris in the fourth quarter worth approximately $278,727,000. Earnest Partners LLC increased its holdings in Entegris by 0.6% in the second quarter. Earnest Partners LLC now owns 1,858,757 shares of the semiconductor company’s stock worth $251,676,000 after purchasing an additional 11,692 shares in the last quarter. Finally, BNP Paribas Asset Management Holding S.A. increased its holdings in Entegris by 8.1% in the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 1,763,575 shares of the semiconductor company’s stock worth $211,311,000 after purchasing an additional 132,447 shares in the last quarter.

About Entegris

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).