Entegris, Inc. (NASDAQ:ENTG) issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.05, Bloomberg Earnings reports. The business had revenue of $329 million for the quarter, compared to analysts’ expectations of $324.51 million. Entegris had a net margin of 9.63% and a return on equity of 17.04%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. Entegris updated its Q3 guidance to $0.30-0.35 EPS.
Shares of Entegris (NASDAQ ENTG) traded down 1.19% during midday trading on Tuesday, hitting $24.85. The company had a trading volume of 578,457 shares. Entegris has a 12 month low of $14.73 and a 12 month high of $27.20. The stock’s 50-day moving average price is $24.18 and its 200-day moving average price is $23.01. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 29.55 and a beta of 1.47.
Several analysts have recently issued reports on ENTG shares. Dougherty & Co increased their price target on shares of Entegris from $26.50 to $27.50 and gave the stock a “buy” rating in a research report on Friday, April 28th. Craig Hallum cut shares of Entegris from a “buy” rating to a “hold” rating in a report on Friday, April 28th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) raised shares of Entegris from a “buy” rating to a “conviction-buy” rating and set a $29.00 target price on the stock in a report on Monday, May 22nd. BidaskClub cut shares of Entegris from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research lowered shares of Entegris from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $27.50.
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In related news, CFO Gregory B. Graves sold 32,593 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $26.01, for a total transaction of $847,743.93. Following the completion of the transaction, the chief financial officer now directly owns 65,554 shares in the company, valued at approximately $1,705,059.54. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Gregory B. Graves sold 19,712 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $26.21, for a total value of $516,651.52. Following the transaction, the chief financial officer now owns 61,546 shares of the company’s stock, valued at $1,613,120.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,268 shares of company stock valued at $2,043,872. 1.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in Entegris by 9.4% in the first quarter. Bank of America Corp DE now owns 1,153,415 shares of the semiconductor company’s stock valued at $26,991,000 after buying an additional 99,247 shares during the last quarter. First Interstate Bank boosted its position in Entegris by 0.7% in the first quarter. First Interstate Bank now owns 9,970 shares of the semiconductor company’s stock valued at $233,000 after buying an additional 70 shares during the last quarter. Strs Ohio boosted its position in Entegris by 40.8% in the first quarter. Strs Ohio now owns 17,600 shares of the semiconductor company’s stock valued at $411,000 after buying an additional 5,100 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Entegris during the first quarter valued at about $3,445,000. Finally, Bank of Montreal Can boosted its position in Entegris by 48.6% in the first quarter. Bank of Montreal Can now owns 326,802 shares of the semiconductor company’s stock valued at $7,647,000 after buying an additional 106,885 shares during the last quarter. Hedge funds and other institutional investors own 98.18% of the company’s stock.
Entegris, Inc is a global developer, manufacturer and supplier of microcontamination control products, specialty chemicals and materials handling solutions for manufacturing processes in the semiconductor and other high-technology industries. The Company operates in three business segments: Specialty Chemicals and Engineered Materials (SCEM), Advanced Materials Handling (AMH) and Microcontamination Control (MC).
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