Bank of America Corp DE Takes $489.40 Million Position in Entegris, Inc. $ENTG

Key Points

• Bank of America acquired a $489.4 million stake in Entegris during the second quarter, purchasing 2.72 million shares and owning approximately 1.78% of the semiconductor materials company. Other major investors, including BlackRock and Primecap Management, also established significant positions.
• Entegris reported stronger-than-expected quarterly results, with EPS of $0.93 versus the $0.82 consensus estimate and revenue of $883.2 million, up 11.5% year over year. The company guided for third-quarter EPS of $0.96–$1.04.
• Analyst sentiment remains positive, with the stock carrying a consensus “Buy” rating and an average price target of $170.89, well above its reported share price of $129.64. Insiders, however, sold 7,978 shares worth approximately $1.27 million during the latest quarter.

Bank of America Corp DE purchased a new stake in shares of Entegris, Inc. (NASDAQ:ENTG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,721,023 shares of the semiconductor company's stock, valued at approximately $489,403,000. Bank of America Corp DE owned approximately 1.78% of Entegris at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ENTG. BlackRock Inc. purchased a new position in shares of Entegris during the second quarter valued at about $3,683,556,000. Primecap Management Co. CA purchased a new stake in shares of Entegris in the second quarter worth about $562,141,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Entegris in the second quarter worth about $486,101,000. Norges Bank bought a new position in Entegris during the fourth quarter valued at approximately $158,669,000. Finally, Bank of New York Mellon Corp bought a new position in Entegris during the second quarter valued at approximately $248,869,000.

Insider Buying and Selling at Entegris

In other Entegris news, SVP Joseph Colella sold 3,916 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $164.48, for a total transaction of $644,103.68. Following the completion of the transaction, the senior vice president directly owned 50,297 shares of the company's stock, valued at approximately $8,272,850.56. This trade represents a 7.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Susan G. Rice sold 2,062 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $149.52, for a total transaction of $308,310.24. Following the transaction, the senior vice president directly owned 66,976 shares of the company's stock, valued at approximately $10,014,251.52. This trade represents a 2.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 7,978 shares of company stock worth $1,273,734. 0.53% of the stock is owned by corporate insiders.

Entegris Stock Up 0.9%

Shares of NASDAQ:ENTG opened at $129.64 on Wednesday. The business's 50 day moving average is $138.88 and its 200 day moving average is $138.19. The stock has a market cap of $19.77 billion, a P/E ratio of 65.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.37. Entegris, Inc. has a 52-week low of $67.97 and a 52-week high of $186.94. The company has a quick ratio of 1.85, a current ratio of 3.05 and a debt-to-equity ratio of 0.83.

Entegris (NASDAQ:ENTG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The semiconductor company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.11. The business had revenue of $883.20 million for the quarter, compared to the consensus estimate of $835.79 million. Entegris had a net margin of 9.18% and a return on equity of 12.25%. The company's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. Entegris has set its Q3 2026 guidance at 0.960-1.040 EPS. Sell-side analysts predict that Entegris, Inc. will post 3.91 EPS for the current year.

Entegris Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Wednesday, July 29th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, July 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. Entegris's dividend payout ratio is presently 20.10%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ENTG shares. BMO Capital Markets raised their target price on shares of Entegris from $153.00 to $167.00 and gave the company an "outperform" rating in a report on Monday, July 6th. UBS Group lifted their price objective on shares of Entegris from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Wall Street Zen cut shares of Entegris from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. The Goldman Sachs Group upgraded Entegris from a "sell" rating to a "buy" rating in a research report on Wednesday, August 12th. Finally, Mizuho boosted their price objective on Entegris from $180.00 to $200.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $170.89.

Entegris Profile

Entegris, Inc is a materials science and process technology company that supplies products and solutions used in the manufacture of semiconductors and other advanced electronic devices. Its offerings are designed to help manufacturers manage contamination, control critical process environments and improve the performance and reliability of production processes.

The company's products include specialty chemicals and gases, liquid and gas filtration systems, wafer-handling and storage products, contamination-control solutions, chemical-mechanical planarization materials, and deposition-related technologies.

Want to see what other hedge funds are holding ENTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Entegris, Inc. (NASDAQ:ENTG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.