Entegris, Inc. $ENTG Stake Raised by Narwhal Capital Management

Narwhal Capital Management raised its holdings in Entegris, Inc. (NASDAQ:ENTG) by 29.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,209 shares of the semiconductor company’s stock after buying an additional 14,113 shares during the quarter. Narwhal Capital Management’s holdings in Entegris were worth $9,584,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Entegris during the second quarter valued at approximately $3,683,556,000. Principal Financial Group Inc. lifted its stake in Entegris by 1.2% in the first quarter. Principal Financial Group Inc. now owns 5,885,239 shares of the semiconductor company’s stock worth $689,990,000 after acquiring an additional 68,152 shares during the period. Primecap Management Co. CA purchased a new stake in Entegris in the second quarter worth $562,141,000. Bank of America Corp DE purchased a new stake in Entegris in the second quarter worth $489,403,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Entegris in the second quarter valued at $486,101,000.

Insider Buying and Selling at Entegris

In other Entegris news, insider Olivier Blachier sold 2,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $160.66, for a total transaction of $321,320.00. Following the completion of the transaction, the insider owned 34,997 shares of the company’s stock, valued at approximately $5,622,618.02. This trade represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Joseph Colella sold 3,916 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $164.48, for a total transaction of $644,103.68. Following the sale, the senior vice president owned 50,297 shares in the company, valued at approximately $8,272,850.56. This trade represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.53% of the company’s stock.

Entegris Stock Down 1.1%

Shares of NASDAQ:ENTG opened at $138.57 on Wednesday. Entegris, Inc. has a 52-week low of $67.97 and a 52-week high of $186.94. The firm has a market capitalization of $21.17 billion, a P/E ratio of 54.13, a P/E/G ratio of 1.10 and a beta of 1.39. The stock has a 50 day moving average price of $146.32 and a 200-day moving average price of $138.79. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.59 and a current ratio of 2.66.

Entegris (NASDAQ:ENTG) last released its earnings results on Thursday, October 29th. The semiconductor company reported $1.23 EPS for the quarter, beating 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 company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $925.35 million. During the same quarter last year, the business posted $0.72 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Entegris, Inc. will post 4.38 EPS for the current fiscal year.

Entegris announced that its board has approved a stock repurchase program on Monday, November 9th that allows the company to buy back $500 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 2.6% of its shares through open market purchases. Share buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Entegris Dividend Announcement

The company also recently disclosed 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 is Wednesday, October 28th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. Entegris’s dividend payout ratio is 15.62%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ENTG. Truist Financial boosted their price objective on shares of Entegris from $190.00 to $199.00 and gave the company a “buy” rating in a research report on Friday, October 30th. UBS Group upped their price objective on shares of Entegris from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Zacks Research raised shares of Entegris from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 5th. Barclays raised their target price on shares of Entegris from $212.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Stifel Nicolaus started coverage on shares of Entegris in a research note on Wednesday, October 7th. They set a “buy” rating and a $200.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $187.17.

About Entegris

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.