Cannon Global Investment Management LLC Sells 4,200 Shares of Entegris, Inc. (NASDAQ:ENTG)

Cannon Global Investment Management LLC trimmed its stake in Entegris, Inc. (NASDAQ:ENTG) by 52.5% during the 4th quarter, Holdings Channel reports. The firm owned 3,800 shares of the semiconductor company’s stock after selling 4,200 shares during the quarter. Entegris comprises approximately 3.4% of Cannon Global Investment Management LLC’s portfolio, making the stock its 11th biggest holding. Cannon Global Investment Management LLC’s holdings in Entegris were worth $455,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Entegris during the fourth quarter valued at approximately $35,000. Daiwa Securities Group Inc. grew its position in Entegris by 3.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 12,379 shares of the semiconductor company’s stock valued at $1,483,000 after acquiring an additional 462 shares during the last quarter. Steph & Co. bought a new position in Entegris during the fourth quarter valued at approximately $151,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Entegris by 38.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,653 shares of the semiconductor company’s stock valued at $10,742,000 after acquiring an additional 24,887 shares during the last quarter. Finally, Main Street Research LLC bought a new position in Entegris during the fourth quarter valued at approximately $216,000.

Entegris Stock Down 2.3 %

Entegris stock traded down $2.93 on Friday, hitting $124.16. 258,294 shares of the stock traded hands, compared to its average volume of 1,367,694. The company has a current ratio of 3.85, a quick ratio of 2.67 and a debt-to-equity ratio of 1.35. The firm has a market cap of $18.71 billion, a P/E ratio of 106.80 and a beta of 1.32. The business’s fifty day simple moving average is $136.14 and its 200 day simple moving average is $116.76. Entegris, Inc. has a 1 year low of $69.37 and a 1 year high of $146.91.

Entegris (NASDAQ:ENTG) last issued its quarterly earnings results on Tuesday, February 13th. The semiconductor company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.06. Entegris had a return on equity of 12.00% and a net margin of 5.13%. The firm had revenue of $812.30 million during the quarter, compared to the consensus estimate of $780.95 million. During the same period last year, the company earned $0.83 earnings per share. The company’s revenue was down 14.1% on a year-over-year basis. As a group, sell-side analysts forecast that Entegris, Inc. will post 3.31 earnings per share for the current year.

Entegris Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. Entegris’s dividend payout ratio is currently 33.61%.

Insider Buying and Selling at Entegris

In other Entegris news, SVP Susan G. Rice sold 17,518 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $135.86, for a total transaction of $2,379,995.48. Following the completion of the sale, the senior vice president now directly owns 42,931 shares in the company, valued at approximately $5,832,605.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Susan G. Rice sold 17,518 shares of Entegris stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $135.86, for a total transaction of $2,379,995.48. Following the transaction, the senior vice president now directly owns 42,931 shares of the company’s stock, valued at approximately $5,832,605.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Michael Sauer sold 1,897 shares of Entegris stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $132.54, for a total value of $251,428.38. Following the transaction, the chief accounting officer now directly owns 1,779 shares in the company, valued at $235,788.66. The disclosure for this sale can be found here. Insiders sold a total of 41,082 shares of company stock worth $5,606,849 in the last three months. 0.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wolfe Research assumed coverage on shares of Entegris in a research report on Friday, March 1st. They set an “outperform” rating and a $160.00 price target on the stock. Craig Hallum raised Entegris from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Thursday, February 15th. BMO Capital Markets increased their price objective on Entegris from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Needham & Company LLC reissued a “buy” rating and set a $150.00 price objective on shares of Entegris in a research note on Thursday, March 7th. Finally, The Goldman Sachs Group increased their price objective on Entegris from $104.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $141.64.

Entegris 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).