Entegris (NASDAQ:ENTG) Stock Lifted to Strong-Buy by Truist Financial

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

ENTG has been the topic of a number of other reports. Weiss Ratings raised Entegris from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, October 30th. The Goldman Sachs Group raised their price target on Entegris from $120.00 to $135.00 and gave the company a “sell” rating in a report on Friday, October 30th. Stifel Nicolaus initiated coverage on shares of Entegris in a research report on Wednesday, October 7th. They set a “buy” rating and a $200.00 price objective for the company. Needham & Company LLC upped their price objective on shares of Entegris from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Finally, UBS Group upped their price objective on shares of Entegris from $205.00 to $220.00 and gave the company a “buy” rating in a report on Friday, October 30th. Three equities 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 stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $187.17.

Entegris Stock Down 1.1%

Shares of ENTG stock opened at $138.57 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.59 and a current ratio of 2.66. The firm’s 50-day moving average is $146.32 and its 200-day moving average is $138.79. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 54.13, a PEG ratio of 1.10 and a beta of 1.39. Entegris has a 52-week low of $67.97 and a 52-week high of $186.94.

Entegris (NASDAQ:ENTG) last issued its earnings results on Thursday, October 29th. The semiconductor company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.20. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $925.35 million. Entegris had a net margin of 11.14% and a return on equity of 13.86%. Entegris’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. Sell-side analysts predict that Entegris will post 4.38 EPS for the current year.

Entegris announced that its board has authorized a stock buyback program on Monday, November 9th that permits the company to repurchase $500 million in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 2.6% of its shares through open market purchases. Share buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Entegris

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ENTG. BlackRock Inc. bought a new stake in Entegris during the second quarter worth $3,683,556,000. Primecap Management Co. CA bought a new position in shares of Entegris in the 2nd quarter valued at $562,141,000. Bank of America Corp DE acquired a new position in shares of Entegris during the 2nd quarter worth $489,403,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Entegris during the 2nd quarter worth $486,101,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Entegris during the 2nd quarter worth $248,869,000.

Entegris Company Profile

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.