Primecap Management Co. CA Lowers Position in Entegris, Inc. (NASDAQ:ENTG)

Key Points

• Primecap Management Co. CA reduced its stake in Entegris, Inc. by 4.8%, now holding 2,735,864 shares worth approximately $239,333,000.
• Entegris reported earnings of $0.66 EPS for the last quarter, exceeding expectations, but showed a 2.5% year-over-year revenue decline.
• The company has declared a quarterly dividend of $0.10 per share, which translates to an annualized dividend yield of 0.5%.

Primecap Management Co. CA lessened its holdings in Entegris, Inc. (NASDAQ:ENTG - Free Report) by 4.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,735,864 shares of the semiconductor company's stock after selling 137,300 shares during the period. Primecap Management Co. CA owned 1.81% of Entegris worth $239,333,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Costello Asset Management INC bought a new stake in Entegris during the first quarter worth about $26,000. Central Pacific Bank Trust Division lifted its stake in Entegris by 125.7% during the first quarter. Central Pacific Bank Trust Division now owns 307 shares of the semiconductor company's stock worth $27,000 after purchasing an additional 171 shares during the last quarter. Quarry LP bought a new stake in Entegris during the fourth quarter worth about $28,000. Neo Ivy Capital Management bought a new stake in Entegris during the fourth quarter worth about $34,000. Finally, Curat Global LLC bought a new stake in Entegris during the first quarter worth about $39,000.

Insider Activity at Entegris

In other Entegris news, SVP Clinton M. Haris sold 3,627 shares of the 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 completion of the transaction, the senior vice president owned 37,743 shares of the company's stock, valued at $3,396,870. This represents a 8.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 price objective on shares of Entegris in a report on Tuesday, May 20th. KeyCorp reiterated an "overweight" rating and set a $103.00 target price (down previously from $112.00) on shares of Entegris in a report on Thursday, July 31st. The Goldman Sachs Group started coverage on Entegris in a research report on Thursday, July 10th. They issued a "neutral" rating and a $85.00 price target on the stock. Wall Street Zen cut Entegris from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Mizuho upped their price objective on Entegris from $90.00 to $98.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $106.44.

Entegris Trading Down 0.5%

NASDAQ:ENTG opened at $73.34 on Wednesday. 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 capitalization of $11.12 billion, a price-to-earnings ratio of 37.80 and a beta of 1.22. Entegris, Inc. has a one year low of $60.75 and a one year high of $119.95. The business has a fifty day moving average price of $81.44 and a 200-day moving average price of $86.56.

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

Entegris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $0.10 per share. 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 is 20.62%.

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).

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