Entegris (NASDAQ:ENTG) Shares Gap Down on Disappointing Earnings

Entegris, Inc. (NASDAQ:ENTG)’s stock price gapped down prior to trading on Monday following a dissappointing earnings announcement. The stock had previously closed at $107.05, but opened at $98.25. Entegris shares last traded at $102.24, with a volume of 240,603 shares changing hands.

The semiconductor company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.01). Entegris had a return on equity of 12.03% and a net margin of 5.61%. The business had revenue of $807.70 million for the quarter, compared to analysts’ expectations of $832.44 million. During the same period last year, the company posted $0.68 earnings per share. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis.

Entegris Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, October 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.40 annualized dividend and a dividend yield of 0.39%. Entegris’s payout ratio is currently 26.49%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup upgraded Entegris from a “neutral” rating to a “buy” rating and upped their price target for the stock from $119.00 to $130.00 in a report on Monday, September 16th. UBS Group lowered their price target on shares of Entegris from $130.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday. BMO Capital Markets dropped their price target on shares of Entegris from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Entegris from $145.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 target price on shares of Entegris in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.10.

Institutional Investors Weigh In On Entegris

A number of institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of Entegris by 161.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 107,677 shares of the semiconductor company’s stock valued at $15,135,000 after purchasing an additional 66,437 shares during the last quarter. Diversified Trust Co bought a new stake in Entegris in the 2nd quarter valued at about $851,000. Cetera Investment Advisers boosted its position in shares of Entegris by 128.0% during the first quarter. Cetera Investment Advisers now owns 20,387 shares of the semiconductor company’s stock worth $2,865,000 after buying an additional 11,444 shares during the period. SG Americas Securities LLC grew its holdings in Entegris by 272.2% in the 1st quarter. SG Americas Securities LLC now owns 6,484 shares of the semiconductor company’s stock worth $911,000 after buying an additional 4,742 shares in the last quarter. Finally, Swedbank AB raised its stake in Entegris by 520.3% during the 2nd quarter. Swedbank AB now owns 300,361 shares of the semiconductor company’s stock valued at $40,669,000 after acquiring an additional 251,938 shares in the last quarter.

Entegris Stock Up 2.1 %

The company has a market cap of $15.57 billion, a price-to-earnings ratio of 68.29, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. The company has a current ratio of 3.58, a quick ratio of 2.14 and a debt-to-equity ratio of 1.18. The stock has a 50-day simple moving average of $108.88 and a 200-day simple moving average of $120.97.

Entegris Company Profile

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).