Entegris (NASDAQ:ENTG) Shares Gap Down on Disappointing Earnings

Entegris, Inc. (NASDAQ:ENTG - Get Free Report)'s share price gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $83.03, but opened at $77.88. Entegris shares last traded at $72.13, with a volume of 1,067,189 shares trading hands.

The semiconductor company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.02). Entegris had a net margin of 9.03% and a return on equity of 12.83%. The company had revenue of $773.20 million for the quarter, compared to analysts' expectations of $790.75 million. During the same period in the previous year, the business posted $0.68 earnings per share. The business's revenue was up .3% on a year-over-year basis.

Entegris Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Wednesday, April 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. Entegris's dividend payout ratio is currently 20.73%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Needham & Company LLC reduced their price objective on shares of Entegris from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday. KeyCorp dropped their price objective on shares of Entegris from $130.00 to $117.00 and set an "overweight" rating on the stock in a report on Thursday. Citigroup lowered their price target on shares of Entegris from $125.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday. StockNews.com downgraded shares of Entegris from a "hold" rating to a "sell" rating in a report on Saturday, April 19th. Finally, UBS Group decreased their price objective on shares of Entegris from $90.00 to $85.00 and set a "neutral" rating on the stock in a report on Thursday. One 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, Entegris has a consensus rating of "Moderate Buy" and a consensus target price of $113.00.

Insider Buying and Selling at Entegris

In other news, SVP Olivier Blachier sold 984 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $108.00, for a total value of $106,272.00. Following the completion of the transaction, the senior vice president now owns 10,903 shares of the company's stock, valued at approximately $1,177,524. This trade represents a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.67% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ENTG. Swedbank AB lifted its position in shares of Entegris by 47.7% during the 4th quarter. Swedbank AB now owns 1,550,942 shares of the semiconductor company's stock worth $153,636,000 after buying an additional 500,581 shares during the last quarter. National Bank of Canada FI increased its stake in Entegris by 66,855.0% in the 4th quarter. National Bank of Canada FI now owns 490,780 shares of the semiconductor company's stock valued at $48,617,000 after buying an additional 490,047 shares during the period. Argent Capital Management LLC increased its stake in Entegris by 9.9% in the 4th quarter. Argent Capital Management LLC now owns 31,066 shares of the semiconductor company's stock valued at $3,077,000 after buying an additional 2,793 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Entegris by 14.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,060,378 shares of the semiconductor company's stock worth $105,041,000 after purchasing an additional 137,046 shares in the last quarter. Finally, Callan Family Office LLC purchased a new stake in shares of Entegris during the 4th quarter worth $308,000.

Entegris Stock Up 7.9%

The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.86 and a current ratio of 3.08. The firm's 50-day simple moving average is $83.04 and its 200 day simple moving average is $96.55. The company has a market capitalization of $12.47 billion, a PE ratio of 42.69, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33.

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).