JPMorgan Chase & Co. Cuts Stake in Entegris, Inc. (NASDAQ:ENTG)

Key Points

• JPMorgan Chase & Co. has reduced its stake in Entegris, Inc. by 5.1%, owning 4,163,372 shares worth approximately $364 million after selling 224,767 shares in Q1.
• Entegris recently reported quarterly earnings with an EPS of $0.66, surpassing analyst estimates, and a revenue of $792.40 million, although it represented a 2.5% decline from the same quarter last year.
• The company has announced a quarterly dividend of $0.10 per share, which will yield 0.5%, and insiders currently hold 0.61% of the company’s stock.

JPMorgan Chase & Co. reduced its holdings in shares of Entegris, Inc. (NASDAQ:ENTG - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,163,372 shares of the semiconductor company's stock after selling 224,767 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.75% of Entegris worth $364,212,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Personal CFO Solutions LLC raised its stake in shares of Entegris by 6.0% during the 1st quarter. Personal CFO Solutions LLC now owns 2,466 shares of the semiconductor company's stock worth $216,000 after buying an additional 140 shares in the last quarter. First Hawaiian Bank raised its stake in shares of Entegris by 0.9% during the 1st quarter. First Hawaiian Bank now owns 15,786 shares of the semiconductor company's stock worth $1,381,000 after buying an additional 143 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Entegris by 0.3% during the 4th quarter. Ensign Peak Advisors Inc now owns 53,230 shares of the semiconductor company's stock worth $5,273,000 after buying an additional 150 shares in the last quarter. Evexia Wealth LLC grew its holdings in shares of Entegris by 6.3% in the 1st quarter. Evexia Wealth LLC now owns 2,798 shares of the semiconductor company's stock worth $245,000 after acquiring an additional 166 shares during the period. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Entegris by 125.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 307 shares of the semiconductor company's stock worth $27,000 after acquiring an additional 171 shares during the period.

Entegris Trading Down 2.2%

Shares of Entegris stock traded down $1.75 during trading hours on Friday, reaching $77.12. 2,137,839 shares of the company's stock were exchanged, compared to its average volume of 3,205,898. Entegris, Inc. has a 52-week low of $60.75 and a 52-week high of $119.95. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 39.75 and a beta of 1.22. The company has a fifty day moving average of $82.08 and a 200-day moving average of $85.02. The company has a current ratio of 3.30, a quick ratio of 1.95 and a debt-to-equity ratio of 1.04.

Entegris (NASDAQ:ENTG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The business had revenue of $792.40 million for the quarter, compared to analyst estimates of $753.85 million. Entegris had a return on equity of 12.05% and a net margin of 9.17%. The business's quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. Sell-side analysts forecast that Entegris, Inc. will post 3.51 EPS for the current fiscal year.

Entegris Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, July 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend 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 20.62%.

Insider Buying and Selling at Entegris

In related news, SVP Susan G. Rice sold 8,858 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $79.84, for a total value of $707,222.72. Following the transaction, the senior vice president directly owned 56,912 shares of the company's stock, valued at approximately $4,543,854.08. This trade represents a 13.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Clinton M. Haris sold 3,627 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $90.00, for a total value of $326,430.00. Following the completion of the transaction, the senior vice president directly owned 37,743 shares in the company, valued at $3,396,870. This trade represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,760 shares of company stock worth $1,053,513 over the last ninety days. Corporate insiders own 0.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ENTG. The Goldman Sachs Group initiated coverage on Entegris in a report on Thursday, July 10th. They issued a "neutral" rating and a $85.00 price target on the stock. UBS Group lowered their target price on Entegris from $95.00 to $90.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Mizuho increased their target price on Entegris from $90.00 to $98.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 target price on shares of Entegris in a report on Tuesday, May 20th. Finally, Wall Street Zen cut 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 issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.44.

About Entegris

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).