Entegris (NASDAQ:ENTG) Share Price Breaks Below 200 Day Moving Average - Here's What Happened

Key Points

• Entegris shares fell below their 200-day moving average, trading as low as $124.14 versus a 200-day average of $138.52; the stock last traded at $124.75.
• The company reported quarterly adjusted earnings of $1.23 per share and revenue of $1.01 billion, beating analyst estimates; revenue rose 24.6% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $187.17, despite the recent share-price weakness.

Entegris, Inc. (NASDAQ:ENTG - Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $138.52 and traded as low as $124.14. Entegris shares last traded at $124.75, with a volume of 9,100,811 shares.

Wall Street Analyst Weigh In

A number of brokerages have commented on ENTG. Stifel Nicolaus began coverage on shares of Entegris in a research report on Wednesday, October 7th. They set a "buy" rating and a $200.00 price target on the stock. Wall Street Zen downgraded Entegris from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Truist Financial boosted their price objective on Entegris from $190.00 to $199.00 and gave the company a "buy" rating in a research note on Friday, October 30th. Barclays upped their target price on Entegris from $212.00 to $224.00 and gave the company an "overweight" rating in a research report on Friday, October 30th. Finally, Needham & Company LLC raised their target price on Entegris from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $187.17.

Entegris Stock Down 12.7%

The company has a current ratio of 2.66, a quick ratio of 1.59 and a debt-to-equity ratio of 0.75. The stock's 50-day moving average is $146.50 and its 200-day moving average is $138.52. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 48.73, a P/E/G ratio of 1.12 and a beta of 1.39.

Entegris (NASDAQ:ENTG - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.20. Entegris had a net margin of 11.14% and a return on equity of 13.86%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $925.35 million. During the same period last year, the company posted $0.72 earnings per share. The business's quarterly revenue was up 24.6% on a year-over-year basis. On average, analysts anticipate that Entegris, Inc. will post 4.38 earnings per share for the current fiscal year.

Entegris Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Wednesday, October 28th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, October 28th. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. Entegris's dividend payout ratio (DPR) is currently 15.62%.

Insider Activity at Entegris

In related news, insider Olivier Blachier sold 2,000 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $160.66, for a total value of $321,320.00. Following the completion of the sale, the insider directly owned 34,997 shares of the company's stock, valued at $5,622,618.02. The trade was a 5.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Susan Rice sold 2,062 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $149.52, for a total value of $308,310.24. Following the transaction, the senior vice president directly owned 66,976 shares in the company, valued at approximately $10,014,251.52. This trade represents a 2.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,978 shares of company stock valued at $1,273,734 in the last three months. Corporate insiders own 0.53% of the company's stock.

Hedge Funds Weigh In On Entegris

A number of institutional investors have recently modified their holdings of ENTG. Man Group plc purchased a new position in Entegris in the second quarter worth $2,461,000. Empowered Funds LLC purchased a new stake in shares of Entegris during the 2nd quarter valued at $1,368,000. Generate Investment Management Ltd purchased a new stake in shares of Entegris during the 3rd quarter valued at $16,893,000. Deutsche Bank AG purchased a new stake in shares of Entegris during the 2nd quarter valued at $69,930,000. Finally, BlackRock Inc. bought a new stake in shares of Entegris during the 2nd quarter worth $3,683,556,000.

About Entegris

Entegris, Inc is a materials science and process technology company that supplies products and solutions used in the manufacture of semiconductors and other advanced technology products. Its offerings help chipmakers manage contamination, handle sensitive materials, and improve process control across the semiconductor production cycle.

The company's products include specialty chemicals and gases, filtration and purification systems, wafer and substrate handling products, fluid-management components, and advanced materials used in semiconductor fabrication.

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