Bank of America Corp DE Sells 724,867 Shares of Entegris, Inc. (NASDAQ:ENTG)

Bank of America Corp DE trimmed its position in Entegris, Inc. (NASDAQ:ENTG - Free Report) by 30.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,670,826 shares of the semiconductor company's stock after selling 724,867 shares during the period. Bank of America Corp DE owned approximately 1.11% of Entegris worth $165,512,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Entegris in the fourth quarter valued at $445,988,000. Price T Rowe Associates Inc. MD lifted its stake in Entegris by 33.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,194,612 shares of the semiconductor company's stock valued at $1,108,940,000 after purchasing an additional 2,826,463 shares during the last quarter. D1 Capital Partners L.P. lifted its stake in Entegris by 329.4% in the 4th quarter. D1 Capital Partners L.P. now owns 2,752,902 shares of the semiconductor company's stock valued at $272,702,000 after purchasing an additional 2,111,801 shares during the last quarter. Raymond James Financial Inc. bought a new position in Entegris during the fourth quarter worth about $91,869,000. Finally, Principal Financial Group Inc. increased its position in Entegris by 130.8% during the third quarter. Principal Financial Group Inc. now owns 1,379,963 shares of the semiconductor company's stock worth $155,287,000 after buying an additional 781,955 shares during the last quarter.

Analysts Set New Price Targets

ENTG has been the topic of a number of recent analyst reports. Citigroup decreased their target price on Entegris from $125.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. StockNews.com downgraded shares of Entegris from a "hold" rating to a "sell" rating in a report on Saturday, April 19th. Needham & Company LLC lowered their price target on shares of Entegris from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. KeyCorp reduced their price objective on Entegris from $130.00 to $117.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Finally, UBS Group lowered their target price on Entegris from $90.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $113.00.

Entegris Price Performance

Entegris stock traded down $1.36 during mid-day trading on Wednesday, reaching $81.78. 2,432,583 shares of the company were exchanged, compared to its average volume of 2,447,798. The firm has a market cap of $12.38 billion, a PE ratio of 42.37, a PEG ratio of 1.50 and a beta of 1.33. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.08 and a quick ratio of 1.86. The company has a fifty day simple moving average of $82.30 and a 200-day simple moving average of $96.30. Entegris, Inc. has a 12 month low of $60.75 and a 12 month high of $147.57.

Entegris (NASDAQ:ENTG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The semiconductor company reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.02). Entegris had a return on equity of 12.83% and a net margin of 9.03%. The company had revenue of $773.20 million during the quarter, compared to the consensus estimate of $790.75 million. During the same quarter in the previous year, the business posted $0.68 EPS. The firm's revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts expect that Entegris, Inc. will post 3.51 earnings per share for the current fiscal year.

Entegris Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Wednesday, April 30th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Wednesday, April 30th. Entegris's dividend payout ratio is presently 19.61%.

Insider Transactions at Entegris

In related news, SVP Olivier Blachier sold 984 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $108.00, for a total transaction of $106,272.00. Following the sale, the senior vice president now owns 10,903 shares of the company's stock, valued at $1,177,524. This trade represents a 8.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.67% of the company's stock.

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).