Entegris, Inc. $ENTG Position Trimmed by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company cut its Entegris stake by 23% in the first quarter, selling 121,920 shares and retaining 408,755 shares valued at approximately $47.9 million.
• Entegris reported stronger-than-expected quarterly results, with earnings of $0.86 per share and revenue of $811.9 million; revenue increased 5% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus, an average price target of $164.22, and seven Buy ratings versus three Holds and one Sell.

The Manufacturers Life Insurance Company decreased its holdings in Entegris, Inc. (NASDAQ:ENTG - Free Report) by 23.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 408,755 shares of the semiconductor company's stock after selling 121,920 shares during the period. The Manufacturers Life Insurance Company owned about 0.27% of Entegris worth $47,922,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Steph & Co. purchased a new position in Entegris during the fourth quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Entegris in the 4th quarter worth approximately $29,000. Millstone Evans Group LLC lifted its position in Entegris by 191.3% in the 1st quarter. Millstone Evans Group LLC now owns 268 shares of the semiconductor company's stock worth $31,000 after buying an additional 176 shares in the last quarter. Johnson Financial Group Inc. lifted its position in Entegris by 147.5% in the 4th quarter. Johnson Financial Group Inc. now owns 396 shares of the semiconductor company's stock worth $33,000 after buying an additional 236 shares in the last quarter. Finally, First Horizon Corp boosted its stake in shares of Entegris by 147.1% during the 1st quarter. First Horizon Corp now owns 299 shares of the semiconductor company's stock valued at $35,000 after buying an additional 178 shares during the period.

Insider Activity

In other news, Director James P. Lederer sold 3,569 shares of the company's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $143.59, for a total transaction of $512,472.71. Following the completion of the sale, the director owned 18,277 shares in the company, valued at approximately $2,624,394.43. This represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Olivier Blachier sold 2,000 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $140.04, for a total value of $280,080.00. Following the transaction, the senior vice president directly owned 34,897 shares in the company, valued at approximately $4,886,975.88. This represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 44,466 shares of company stock valued at $6,186,624. Corporate insiders own 0.53% of the company's stock.

Entegris Stock Performance

ENTG stock opened at $117.11 on Friday. The firm has a 50 day moving average of $144.97 and a two-hundred day moving average of $133.58. Entegris, Inc. has a 12 month low of $67.97 and a 12 month high of $186.94. The company has a market capitalization of $17.86 billion, a price-to-earnings ratio of 67.69, a P/E/G ratio of 1.25 and a beta of 1.31. The company has a quick ratio of 2.05, a current ratio of 3.21 and a debt-to-equity ratio of 0.91.

Entegris (NASDAQ:ENTG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.75 by $0.11. Entegris had a net margin of 8.18% and a return on equity of 11.45%. The business had revenue of $811.90 million for the quarter, compared to the consensus estimate of $808.72 million. During the same quarter last year, the firm earned $0.67 EPS. Entegris's revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts anticipate that Entegris, Inc. will post 3.65 EPS for the current fiscal year.

Entegris Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Wednesday, July 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, July 29th. Entegris's dividend payout ratio is presently 23.12%.

Analyst Ratings Changes

Several equities analysts have recently commented on ENTG shares. UBS Group boosted their price target on shares of Entegris from $185.00 to $205.00 and gave the company a "buy" rating in a report on Friday, May 1st. Citigroup reiterated a "buy" rating on shares of Entegris in a report on Thursday, April 30th. BMO Capital Markets boosted their target price on Entegris from $153.00 to $167.00 and gave the company an "outperform" rating in a research note on Monday, July 6th. Weiss Ratings upgraded Entegris from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $160.00 target price on shares of Entegris in a research report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock 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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