Neuberger Berman Group LLC Sells 162,502 Shares of Entegris, Inc. (NASDAQ:ENTG)

Key Points

• Neuberger Berman Group LLC reduced its stake in Entegris, Inc. by 35.4%, selling 162,502 shares during the first quarter, leaving them with 295,955 shares valued at approximately $25.89 million.
• Entegris reported earnings of $0.66 per share for the most recent quarter, exceeding analysts' expectations of $0.65, with quarterly revenue reaching $792.4 million.
• The company also announced a quarterly dividend of $0.10 per share, with an ex-dividend date of July 30th, and a current dividend yield of 0.5%.

Neuberger Berman Group LLC lessened its stake in shares of Entegris, Inc. (NASDAQ:ENTG - Free Report) by 35.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 295,955 shares of the semiconductor company's stock after selling 162,502 shares during the quarter. Neuberger Berman Group LLC owned about 0.20% of Entegris worth $25,890,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ENTG. Costello Asset Management INC acquired a new position in shares of Entegris during the first quarter valued at approximately $26,000. Central Pacific Bank Trust Division increased its stake in shares of Entegris by 125.7% during the first quarter. Central Pacific Bank Trust Division now owns 307 shares of the semiconductor company's stock valued at $27,000 after acquiring an additional 171 shares during the period. Quarry LP acquired a new position in shares of Entegris during the fourth quarter valued at approximately $28,000. Neo Ivy Capital Management acquired a new position in shares of Entegris during the fourth quarter valued at approximately $34,000. Finally, Curat Global LLC acquired a new position in shares of Entegris during the first quarter valued at approximately $39,000.

Wall Street Analyst Weigh In

ENTG has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Entegris from $125.00 to $102.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. The Goldman Sachs Group started coverage on shares of Entegris in a report on Thursday, July 10th. They set a "neutral" rating and a $85.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $100.00 target price on shares of Entegris in a report on Tuesday, May 20th. Mizuho raised 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 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $106.44.

Entegris Trading Down 2.2%

Entegris stock traded down $1.75 during midday trading on Friday, reaching $77.12. The stock had a trading volume of 2,137,839 shares, compared to its average volume of 3,205,898. The firm's fifty day simple moving average is $82.08 and its two-hundred day simple moving average is $85.02. Entegris, Inc. has a twelve month low of $60.75 and a twelve month high of $119.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 3.30 and a quick ratio of 1.95. The firm has a market cap of $11.69 billion, a price-to-earnings ratio of 39.75 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.01. The company had revenue of $792.40 million during the quarter, compared to analyst estimates of $753.85 million. Entegris had a net margin of 9.17% and a return on equity of 12.05%. The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. Equities analysts anticipate that Entegris, Inc. will post 3.51 EPS for the current fiscal year.

Entegris Dividend Announcement

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

Insiders Place Their Bets

In other Entegris news, SVP Clinton M. Haris sold 3,627 shares of Entegris 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 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 filing with the SEC, which is available at this hyperlink. Also, SVP Susan G. Rice sold 8,858 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $79.84, for a total transaction of $707,222.72. Following the transaction, the senior vice president owned 56,912 shares in the company, valued at $4,543,854.08. This represents a 13.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,760 shares of company stock valued at $1,053,513 in the last three months. Company insiders own 0.67% of the company's stock.

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).