Allspring Global Investments Holdings LLC Acquires 43,294 Shares of Entegris, Inc. $ENTG

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Entegris, Inc. by 16.6% during the second quarter, now owning 303,760 shares valued at $25 million.
• Analysts have a consensus rating of "Moderate Buy" on Entegris, with an average target price of $106.30 following several upgrades and new ratings from research firms.
• Entegris recently announced a quarterly dividend of $0.10 per share, resulting in an annualized yield of 0.4%.

Allspring Global Investments Holdings LLC increased its holdings in shares of Entegris, Inc. (NASDAQ:ENTG - Free Report) by 16.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,760 shares of the semiconductor company's stock after buying an additional 43,294 shares during the period. Allspring Global Investments Holdings LLC owned 0.20% of Entegris worth $25,012,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management raised its stake in shares of Entegris by 73.7% during the second quarter. Alpine Bank Wealth Management now owns 311 shares of the semiconductor company's stock worth $25,000 after buying an additional 132 shares during the last quarter. Costello Asset Management INC acquired a new position in Entegris during the first quarter valued at approximately $26,000. Rise Advisors LLC acquired a new position in Entegris during the first quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in Entegris during the first quarter valued at approximately $36,000. Finally, SVB Wealth LLC acquired a new position in Entegris during the first quarter valued at approximately $43,000.

Insider Buying and Selling

In related news, SVP Susan G. Rice sold 8,858 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $79.84, for a total transaction of $707,222.72. Following the completion of the transaction, the senior vice president owned 56,912 shares in the company, valued at approximately $4,543,854.08. This represents a 13.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.67% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ENTG shares. The Goldman Sachs Group started coverage on shares of Entegris in a report on Thursday, July 10th. They set a "neutral" rating and a $85.00 price objective for the company. Oppenheimer started coverage on shares of Entegris in a report on Thursday, September 4th. They set a "market perform" rating and a $95.00 price objective for the company. Zacks Research upgraded shares of Entegris from a "strong sell" rating to a "hold" rating in a report on Friday, October 3rd. Wall Street Zen upgraded shares of Entegris from a "sell" rating to a "hold" rating in a report on Friday, October 3rd. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Entegris in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Entegris currently has a consensus rating of "Moderate Buy" and an average target price of $106.30.

Entegris Trading Down 4.3%

Shares of NASDAQ:ENTG opened at $90.54 on Friday. Entegris, Inc. has a 12 month low of $60.75 and a 12 month high of $112.36. The company has a quick ratio of 1.95, a current ratio of 3.30 and a debt-to-equity ratio of 1.04. The company's fifty day simple moving average is $87.04 and its 200 day simple moving average is $81.43. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 46.67 and a beta of 1.38.

Entegris (NASDAQ:ENTG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 6th. The semiconductor company reported $0.70 EPS for the quarter. Entegris had a net margin of 9.17% and a return on equity of 12.05%. The business had revenue of $512.84 million for the quarter. As a group, research analysts forecast that Entegris, Inc. will post 3.51 EPS for the current fiscal year.

Entegris Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, October 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.4%. Entegris's dividend payout ratio is presently 20.62%.

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).

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