Entegris (NASDAQ:ENTG) Shares Down 6.2% - Here's What Happened

Entegris, Inc. (NASDAQ:ENTG - Get Free Report) traded down 6.2% during mid-day trading on Friday . The company traded as low as $67.67 and last traded at $67.95. 2,037,247 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 2,527,491 shares. The stock had previously closed at $72.42.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ENTG shares. Wall Street Zen cut shares of Entegris from a "hold" rating to a "sell" rating in a research note on Saturday, April 19th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 target price on shares of Entegris in a research note on Tuesday, May 20th. UBS Group cut their target price on shares of Entegris from $90.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. KeyCorp cut their target price on shares of Entegris from $130.00 to $117.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, Citigroup cut their target price on shares of Entegris from $125.00 to $102.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Entegris presently has an average rating of "Moderate Buy" and a consensus target price of $113.00.

Entegris Price Performance

The company's fifty day simple moving average is $76.24 and its 200-day simple moving average is $93.44. The company has a current ratio of 3.08, a quick ratio of 1.86 and a debt-to-equity ratio of 1.08. The stock has a market cap of $10.29 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33.

Entegris (NASDAQ:ENTG - Get Free Report) last posted its earnings results on Wednesday, May 7th. 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 return on equity of 12.83% and a net margin of 9.03%. The firm had revenue of $773.20 million during the quarter, compared to the consensus estimate of $790.75 million. During the same period in the previous year, the company posted $0.68 EPS. The firm's revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Entegris, Inc. will post 3.51 EPS for the current year.

Entegris Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Wednesday, April 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, April 30th. Entegris's dividend payout ratio is currently 19.61%.

Institutional Investors Weigh In On Entegris

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Entegris by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 15,553,199 shares of the semiconductor company's stock valued at $1,360,594,000 after purchasing an additional 351,053 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Entegris by 21.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,555,677 shares of the semiconductor company's stock valued at $1,185,852,000 after acquiring an additional 2,361,065 shares during the period. Principal Financial Group Inc. raised its position in shares of Entegris by 235.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,014,198 shares of the semiconductor company's stock valued at $438,642,000 after acquiring an additional 3,520,997 shares during the period. Norges Bank acquired a new stake in shares of Entegris in the 4th quarter valued at approximately $445,988,000. Finally, Select Equity Group L.P. raised its position in shares of Entegris by 6.9% in the 1st quarter. Select Equity Group L.P. now owns 4,074,232 shares of the semiconductor company's stock valued at $356,414,000 after acquiring an additional 263,168 shares during the period.

Entegris Company Profile

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).