JPMorgan Chase & Co. Cuts Stake in Entegris Inc (ENTG)
JPMorgan Chase & Co. lowered its stake in shares of Entegris Inc (NASDAQ:ENTG) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,093,209 shares of the semiconductor company’s stock after selling 231,527 shares during the period. JPMorgan Chase & Co.’s holdings in Entegris were worth $74,706,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new stake in Entegris during the 1st quarter valued at about $34,000. NumerixS Investment Technologies Inc purchased a new stake in Entegris during the 4th quarter valued at about $36,000. Water Island Capital LLC purchased a new stake in Entegris during the 1st quarter valued at about $36,000. FTB Advisors Inc. grew its stake in Entegris by 41.9% during the 1st quarter. FTB Advisors Inc. now owns 1,445 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 427 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Entegris by 1,148.1% during the 1st quarter. Meeder Asset Management Inc. now owns 2,359 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 2,170 shares in the last quarter.
NASDAQ:ENTG opened at $34.91 on Friday. The company has a current ratio of 4.34, a quick ratio of 3.06 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 18.47 and a beta of 1.35. Entegris Inc has a 1-year low of $23.39 and a 1-year high of $42.01.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 1st were issued a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, April 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.80%. Entegris’s dividend payout ratio is currently 14.81%.
In other news, SVP Stuart Tison sold 11,576 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $38.96, for a total value of $451,000.96. Following the transaction, the senior vice president now directly owns 74,744 shares in the company, valued at approximately $2,912,026.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gregory B. Graves sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $40.39, for a total transaction of $1,211,700.00. Following the completion of the transaction, the chief financial officer now owns 67,861 shares in the company, valued at $2,740,905.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,470 shares of company stock worth $2,965,480. Company insiders own 1.50% of the company’s stock.
Several equities analysts have weighed in on the stock. ValuEngine upgraded shares of Entegris from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Deutsche Bank boosted their target price on shares of Entegris from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Citigroup lowered shares of Entegris from a “buy” rating to a “neutral” rating and boosted their target price for the company from $40.00 to $42.00 in a report on Friday, May 10th. Loop Capital decreased their target price on shares of Entegris to $46.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Finally, BidaskClub lowered shares of Entegris from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 14th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $42.38.
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Entegris, Inc develops, manufactures, and supplies micro contamination control products, specialty chemicals, and advanced materials handling solutions for manufacturing processes in the semiconductor and other high-technology industries worldwide. It operates through three segments: Specialty Chemicals and Engineered Materials (SCEM); Microcontamination Control (MC); and Advanced Materials Handling (AMH).
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