Entegris, Inc. $ENTG Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Entegris, Inc. by 2.2%, selling 11,545 shares and now owning approximately 0.33% of the company, valued at about $40.6 million.
• Entegris received several analyst upgrades, including a shift from a "strong sell" to a "hold" rating by Zacks Research and an increased price target from $100.00 to $108.00 by Mizuho.
• The company declared a quarterly dividend of $0.10 per share, which has an annualized yield of 0.4%, set to be paid to shareholders on November 19th.

Allianz Asset Management GmbH lessened its position in Entegris, Inc. (NASDAQ:ENTG - Free Report) by 2.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 503,400 shares of the semiconductor company's stock after selling 11,545 shares during the period. Allianz Asset Management GmbH owned approximately 0.33% of Entegris worth $40,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management lifted its stake in shares of Entegris by 73.7% in the second quarter. Alpine Bank Wealth Management now owns 311 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 132 shares during the period. Costello Asset Management INC acquired a new stake in shares of Entegris in the first quarter valued at about $26,000. Rise Advisors LLC acquired a new stake in shares of Entegris in the first quarter valued at about $26,000. Summit Securities Group LLC acquired a new stake in shares of Entegris in the first quarter valued at about $36,000. Finally, SVB Wealth LLC acquired a new stake in shares of Entegris in the first quarter valued at about $43,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Zacks Research upgraded shares of Entegris from a "strong sell" rating to a "hold" rating in a research note on Friday, October 3rd. Oppenheimer initiated coverage on shares of Entegris in a research note on Thursday, September 4th. They issued a "market perform" rating and a $95.00 price objective for the company. Mizuho lifted their target price on shares of Entegris from $100.00 to $108.00 and gave the stock an "outperform" rating in a research report on Friday, October 3rd. Wall Street Zen upgraded shares of Entegris from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, The Goldman Sachs Group initiated coverage on shares of Entegris in a research report on Thursday, July 10th. They set a "neutral" rating and a $85.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $106.30.

Insider Activity at Entegris

In other news, SVP Susan G. Rice sold 8,858 shares of Entegris stock in a transaction dated 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 sale, the senior vice president directly owned 56,912 shares in the company, valued at $4,543,854.08. The trade was a 13.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.67% of the stock is currently owned by company insiders.

Entegris Stock Performance

Shares of ENTG opened at $90.94 on Friday. 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 stock has a market cap of $13.79 billion, a P/E ratio of 46.88 and a beta of 1.38. The company has a 50-day moving average of $87.40 and a two-hundred day moving average of $81.46. Entegris, Inc. has a 12-month low of $60.75 and a 12-month high of $112.36.

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

Entegris Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.4%. Entegris's payout ratio is 20.62%.

Entegris 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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