Bank of America Corp DE Sells 335,797 Shares of Entegris, Inc. $ENTG

Key Points

• Bank of America reduced its Entegris stake by 12.7%, selling 335,797 shares during the first quarter. It still held 2.31 million shares, worth approximately $271.3 million, representing a 1.52% ownership stake.
• Entegris insiders sold 44,466 shares worth about $6.19 million over the past quarter, including sales by two senior vice presidents. Insiders own 0.53% of the company.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $164.22. Entegris also declared a quarterly dividend of $0.10 per share, equivalent to a 0.3% annualized yield.

Bank of America Corp DE lowered its stake in shares of Entegris, Inc. (NASDAQ:ENTG - Free Report) by 12.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,313,988 shares of the semiconductor company's stock after selling 335,797 shares during the period. Bank of America Corp DE owned 1.52% of Entegris worth $271,292,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Millstone Evans Group LLC lifted its position in shares of Entegris by 191.3% during the first quarter. Millstone Evans Group LLC now owns 268 shares of the semiconductor company's stock valued at $31,000 after buying an additional 176 shares during the last quarter. Steph & Co. purchased a new position in shares of Entegris in the 4th quarter worth approximately $25,000. First Horizon Corp grew its position in shares of Entegris by 147.1% in the 1st quarter. First Horizon Corp now owns 299 shares of the semiconductor company's stock worth $35,000 after buying an additional 178 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Entegris during the 4th quarter worth approximately $29,000. Finally, Elevated Capital Advisors LLC bought a new position in shares of Entegris during the 1st quarter worth approximately $44,000.

Insider Activity at Entegris

In other Entegris news, SVP Susan G. Rice sold 19,893 shares of Entegris stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $132.84, for a total transaction of $2,642,586.12. Following the completion of the sale, the senior vice president owned 69,038 shares of the company's stock, valued at approximately $9,171,007.92. The trade was a 22.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Joseph Colella sold 6,326 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $140.17, for a total value of $886,715.42. Following the sale, the senior vice president owned 50,121 shares in the company, valued at approximately $7,025,460.57. The trade was a 11.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 44,466 shares of company stock worth $6,186,624 in the last quarter. 0.53% of the stock is owned by insiders.

Entegris Trading Up 5.2%

NASDAQ ENTG opened at $125.20 on Tuesday. Entegris, Inc. has a 12-month low of $67.97 and a 12-month high of $186.94. The company has a fifty day simple moving average of $144.45 and a two-hundred day simple moving average of $133.86. The company has a current ratio of 3.21, a quick ratio of 2.05 and a debt-to-equity ratio of 0.91. The stock has a market cap of $19.09 billion, a P/E ratio of 72.37, a P/E/G ratio of 1.39 and a beta of 1.35.

Entegris Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, July 29th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, July 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. Entegris's dividend payout ratio (DPR) is 23.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ENTG shares. BMO Capital Markets increased their target price on shares of Entegris from $153.00 to $167.00 and gave the company an "outperform" rating in a research report on Monday, July 6th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $115.00 price target on shares of Entegris in a research report on Friday, May 1st. Wall Street Zen upgraded Entegris from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 12th. UBS Group raised their price objective on Entegris from $185.00 to $205.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded Entegris from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $164.22.

About Entegris

Entegris, Inc is a leading provider of advanced materials and process control solutions for the semiconductor and other high-technology industries. The company develops and supplies a broad portfolio of products designed to ensure purity and reliability throughout the manufacturing process, helping customers address critical contamination and yield challenges.

Entegris's product offerings include high-purity chemicals and specialty materials, liquid and gas filtration and purification systems, and sophisticated wafer and chip handling solutions.

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