Share Repurchase Program Authorized by Entegris (NASDAQ:ENTG) Board

Entegris (NASDAQ:ENTG) announced that its board has initiated a share buyback plan on Monday, November 9th, RTT News reports. The company plans to repurchase $500 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 2.6% of its shares through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ENTG shares. Citigroup lifted their price target on Entegris from $195.00 to $200.00 and gave the company a “buy” rating in a report on Friday, October 30th. Barclays upped their price target on Entegris from $212.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, October 30th. UBS Group increased their price objective on Entegris from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. The Goldman Sachs Group increased their price objective on Entegris from $120.00 to $135.00 and gave the stock a “sell” rating in a research note on Friday, October 30th. Finally, Needham & Company LLC raised their price objective on Entegris from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Entegris has a consensus rating of “Buy” and an average price target of $187.17.

Entegris Trading Up 11.3%

Entegris stock opened at $154.22 on Thursday. The company’s fifty day simple moving average is $146.81 and its 200-day simple moving average is $138.99. The company has a quick ratio of 1.59, a current ratio of 2.66 and a debt-to-equity ratio of 0.75. Entegris has a 12 month low of $67.97 and a 12 month high of $186.94. The stock has a market cap of $23.56 billion, a P/E ratio of 60.24, a P/E/G ratio of 1.08 and a beta of 1.39.

Entegris (NASDAQ:ENTG) last posted 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 net margin of 11.14% and a return on equity of 13.86%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $925.35 million. During the same period in the prior year, the business posted $0.72 earnings per share. Entegris’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Entegris will post 4.38 EPS for the current fiscal year.

Entegris Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.3%. Entegris’s payout ratio is 15.62%.

Insider Buying and Selling

In other Entegris news, insider Olivier Blachier sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.53% of the stock is owned by corporate insiders.

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.