Entegris (NASDAQ:ENTG) Share Price Breaks Below 50-Day Moving Average - Here's Why

Key Points

• Entegris shares dipped below their 50-day moving average of $147.59, reaching an intraday low of $141.09 before last trading at $147.41.
• Analyst sentiment remains positive: the consensus rating is Buy, with a $187.17 price target; 14 analysts rate the stock Buy or Strong Buy, while one rates it Sell.
• The company beat quarterly earnings and revenue estimates, with revenue up 24.6% year over year, and authorized a $500 million share repurchase plan.

Entegris, Inc. (NASDAQ:ENTG - Get Free Report) shares crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $147.59 and traded as low as $141.09. Entegris shares last traded at $147.41, with a volume of 2,584,620 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ENTG shares. Weiss Ratings upgraded Entegris from a "hold (c)" rating to a "buy (b-)" rating in a research note on Friday, October 30th. Freedom Capital upgraded Entegris to a "strong-buy" rating in a research report on Monday, August 3rd. Truist Financial raised Entegris from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 10th. Needham & Company LLC raised their target price on Entegris from $170.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Finally, The Goldman Sachs Group boosted their target price on shares of Entegris from $120.00 to $135.00 and gave the stock a "sell" rating in a research report on Friday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Entegris currently has a consensus rating of "Buy" and a consensus price target of $187.17.

Entegris Price Performance

The company has a 50 day moving average price of $147.59 and a 200 day moving average price of $139.31. The firm has a market cap of $22.52 billion, a PE ratio of 57.58, a price-to-earnings-growth ratio of 1.20 and a beta of 1.39. The company has a current ratio of 2.66, a quick ratio of 1.59 and a debt-to-equity ratio of 0.75.

Entegris (NASDAQ:ENTG - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The semiconductor company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.20. Entegris had a return on equity of 13.86% and a net margin of 11.14%. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $925.35 million. During the same quarter in the prior year, the firm posted $0.72 EPS. The company's revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts expect that Entegris, Inc. will post 4.36 EPS for the current year.

Entegris Announces Dividend

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

Entegris announced that its board has authorized a stock buyback plan on Monday, November 9th that permits the company to buy back $500 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 2.6% of its shares through open market purchases. Share repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Man Group plc acquired a new position in shares of Entegris during the 2nd quarter valued at about $2,461,000. Generate Investment Management Ltd acquired a new stake in shares of Entegris in the third quarter worth approximately $16,893,000. Empowered Funds LLC purchased a new stake in Entegris in the second quarter valued at approximately $1,368,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Entegris in the third quarter valued at approximately $36,393,000. Finally, Deutsche Bank AG acquired a new position in Entegris during the second quarter worth approximately $69,930,000.

Entegris Company Profile

Entegris, Inc. supplies advanced materials and process solutions used in semiconductor manufacturing and other high-technology industries. Its products help customers control contamination and manage materials throughout complex manufacturing processes. The company's offerings include specialty chemicals and gases, filtration and purification systems, fluid and gas handling products, and wafer handling and storage solutions. Entegris also provides related services and technologies designed to support the production of semiconductor devices and other advanced products.

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