Citigroup Inc. Lowers Holdings in Entegris, Inc. (NASDAQ:ENTG)

Key Points

• Citigroup Inc. has significantly reduced its holdings in Entegris, Inc. by 49.3% in the first quarter, leaving the firm with approximately 0.50% ownership worth $66.2 million after selling 737,210 shares.
• Entegris reported a net revenue decline of 2.5% year-over-year, with earnings per share of $0.66 for the latest quarter, exceeding analyst expectations of $0.65.
• The company has announced a quarterly dividend of $0.10 per share, which translates to an annualized dividend yield of 0.5% and a current payout ratio of 20.62%.

Citigroup Inc. trimmed its holdings in Entegris, Inc. (NASDAQ:ENTG - Free Report) by 49.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 756,947 shares of the semiconductor company's stock after selling 737,210 shares during the period. Citigroup Inc. owned approximately 0.50% of Entegris worth $66,218,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Personal CFO Solutions LLC grew its position in Entegris by 6.0% in the first quarter. Personal CFO Solutions LLC now owns 2,466 shares of the semiconductor company's stock worth $216,000 after acquiring an additional 140 shares during the period. First Hawaiian Bank lifted its stake in Entegris by 0.9% during the first quarter. First Hawaiian Bank now owns 15,786 shares of the semiconductor company's stock worth $1,381,000 after purchasing an additional 143 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in Entegris by 0.3% during the fourth quarter. Ensign Peak Advisors Inc now owns 53,230 shares of the semiconductor company's stock worth $5,273,000 after purchasing an additional 150 shares in the last quarter. Evexia Wealth LLC lifted its stake in Entegris by 6.3% during the first quarter. Evexia Wealth LLC now owns 2,798 shares of the semiconductor company's stock worth $245,000 after purchasing an additional 166 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its stake in Entegris by 125.7% during the first quarter. Central Pacific Bank Trust Division now owns 307 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 171 shares in the last quarter.

Entegris Stock Down 0.4%

Entegris stock opened at $73.14 on Friday. Entegris, Inc. has a twelve month low of $60.75 and a twelve month high of $119.95. The stock's fifty day simple moving average is $81.55 and its 200-day simple moving average is $85.85. The company has a current ratio of 3.30, a quick ratio of 1.95 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $11.09 billion, a P/E ratio of 37.70 and a beta of 1.22.

Entegris (NASDAQ:ENTG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. The firm had revenue of $792.40 million during the quarter, compared to the consensus estimate of $753.85 million. Entegris had a net margin of 9.17% and a return on equity of 12.05%. The company's revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, equities analysts expect that Entegris, Inc. will post 3.51 earnings per share for the current fiscal year.

Entegris Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, July 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, July 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. Entegris's payout ratio is presently 20.62%.

Analysts Set New Price Targets

A number of research analysts have commented on ENTG shares. Needham & Company LLC restated a "buy" rating and set a $100.00 price target on shares of Entegris in a research note on Tuesday, May 20th. KeyCorp restated an "overweight" rating and set a $103.00 price target (down from $112.00) on shares of Entegris in a research note on Thursday, July 31st. Mizuho upped their price target on Entegris from $90.00 to $98.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Wall Street Zen cut Entegris from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Finally, Citigroup cut their price objective on Entegris from $125.00 to $102.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.44.

Insider Activity at Entegris

In related news, SVP Clinton M. Haris sold 3,627 shares of the business's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $90.00, for a total transaction of $326,430.00. Following the completion of the transaction, the senior vice president owned 37,743 shares in the company, valued at approximately $3,396,870. The trade was a 8.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company's stock.

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).

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