Entegris, Inc. $ENTG Shares Sold by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia cut its Entegris stake by 95.4% in the first quarter, selling 139,184 shares and retaining 6,763 shares valued at approximately $793,000. Several smaller investment firms, however, increased or initiated positions.
• Analyst sentiment remains generally positive, with seven Buy ratings, three Holds, and one Sell rating. Entegris has a “Moderate Buy” consensus rating and an average price target of $164.22.
• Entegris reported quarterly earnings of $0.86 per share, surpassing estimates of $0.75, while revenue rose 5% year over year to $811.9 million. The company also declared a quarterly dividend of $0.10 per share.

Bank of Nova Scotia trimmed its stake in shares of Entegris, Inc. (NASDAQ:ENTG - Free Report) by 95.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,763 shares of the semiconductor company's stock after selling 139,184 shares during the quarter. Bank of Nova Scotia's holdings in Entegris were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Entegris from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. Mizuho lifted their price objective on shares of Entegris from $180.00 to $200.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. The Goldman Sachs Group reissued a "sell" rating and set a $115.00 target price on shares of Entegris in a research note on Friday, May 1st. Wall Street Zen upgraded shares of Entegris from a "buy" rating to a "strong-buy" rating in a research report on Sunday, July 12th. Finally, Oppenheimer restated an "outperform" rating and issued a $160.00 price target on shares of Entegris in a research note on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Entegris currently has an average rating of "Moderate Buy" and a consensus price target of $164.22.

Entegris Trading Down 9.4%

Shares of ENTG stock opened at $107.01 on Thursday. Entegris, Inc. has a 1 year low of $67.97 and a 1 year high of $186.94. The firm has a market capitalization of $16.32 billion, a PE ratio of 61.86, a price-to-earnings-growth ratio of 1.38 and a beta of 1.31. The stock has a fifty day moving average of $145.26 and a two-hundred day moving average of $133.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.05 and a current ratio of 3.21.

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

Entegris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Wednesday, July 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.40 annualized dividend and a yield of 0.4%. Entegris's dividend payout ratio is presently 23.12%.

Insider Transactions at Entegris

In other Entegris news, SVP Joseph Colella sold 6,326 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $140.17, for a total transaction of $886,715.42. Following the transaction, the senior vice president owned 50,121 shares of the company's stock, valued at approximately $7,025,460.57. This trade represents a 11.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Clinton M. Haris sold 6,848 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $149.23, for a total transaction of $1,021,927.04. Following the sale, the senior vice president owned 54,961 shares in the company, valued at $8,201,830.03. This trade represents a 11.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 44,466 shares of company stock worth $6,186,624 over the last ninety days. Insiders own 0.53% of the company's stock.

Entegris Profile

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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