PNC Financial Services Group Inc. Acquires 11,982 Shares of Entegris, Inc. (NASDAQ:ENTG)

Key Points

• PNC Financial Services Group Inc. increased its stake in Entegris, Inc. by 79% in Q1, owning 27,149 shares worth $2,375,000 as of the last reporting period.
• Multiple institutional investors have significantly increased their holdings in Entegris, including Principal Financial Group Inc. with an increase of 235.8% and Deutsche Bank AG with 434.1% growth in the last quarter.
• The company reported a quarterly earnings per share (EPS) of $0.66, exceeding estimates, with revenue of $792.40 million, despite a 2.5% decrease compared to the same quarter last year.

PNC Financial Services Group Inc. grew its stake in shares of Entegris, Inc. (NASDAQ:ENTG - Free Report) by 79.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,149 shares of the semiconductor company's stock after purchasing an additional 11,982 shares during the period. PNC Financial Services Group Inc.'s holdings in Entegris were worth $2,375,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Jefferies Financial Group Inc. boosted its stake in shares of Entegris by 181.5% during the 1st quarter. Jefferies Financial Group Inc. now owns 18,901 shares of the semiconductor company's stock valued at $1,653,000 after purchasing an additional 42,101 shares in the last quarter. Torray Investment Partners LLC grew its position in shares of Entegris by 1.5% in the 1st quarter. Torray Investment Partners LLC now owns 15,499 shares of the semiconductor company's stock worth $1,356,000 after buying an additional 233 shares during the period. Natixis Advisors LLC grew its position in shares of Entegris by 25.6% in the 1st quarter. Natixis Advisors LLC now owns 357,577 shares of the semiconductor company's stock worth $31,281,000 after buying an additional 72,770 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Entegris in the 1st quarter worth about $290,000. Finally, Federated Hermes Inc. grew its position in shares of Entegris by 64.1% in the 1st quarter. Federated Hermes Inc. now owns 170,914 shares of the semiconductor company's stock worth $14,952,000 after buying an additional 66,757 shares during the period.

Entegris Stock Performance

Shares of NASDAQ ENTG traded up $3.94 during trading on Tuesday, reaching $75.97. 2,969,746 shares of the company traded hands, compared to its average volume of 3,349,163. The firm has a 50 day simple moving average of $81.63 and a 200-day simple moving average of $85.49. The company has a quick ratio of 1.95, a current ratio of 3.30 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $11.52 billion, a PE ratio of 39.16 and a beta of 1.22. Entegris, Inc. has a 52-week low of $60.75 and a 52-week high of $119.95.

Entegris (NASDAQ:ENTG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. The firm had revenue of $792.40 million for 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 business's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. Equities research analysts anticipate that Entegris, Inc. will post 3.51 earnings per share for the current year.

Entegris Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ENTG shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 target price on shares of Entegris in a research report on Tuesday, May 20th. KeyCorp reaffirmed an "overweight" rating and issued a $103.00 target price (down from $112.00) on shares of Entegris in a report on Thursday, July 31st. The Goldman Sachs Group initiated coverage on shares of Entegris in a report on Thursday, July 10th. They issued a "neutral" rating and a $85.00 target price for the company. Mizuho lifted their target price on shares of Entegris from $90.00 to $98.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Wall Street Zen cut shares of Entegris from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $106.44.

Insider Activity

In other news, SVP Clinton M. Haris sold 3,627 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $90.00, for a total transaction of $326,430.00. Following the sale, the senior vice president owned 37,743 shares of the company's stock, valued at $3,396,870. This trade represents a 8.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.

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).