Entegris (NASDAQ:ENTG) Shares Gap Down Following Weak Earnings

Entegris, Inc. (NASDAQ:ENTG) gapped down before the market opened on Monday after the company announced weaker than expected quarterly earnings. 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.

The semiconductor company reported $0.77 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $832.44 million. Entegris’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share.

Entegris Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. KeyCorp dropped their price target on Entegris from $164.00 to $154.00 and set an “overweight” rating for the company in a research note on Tuesday. Mizuho lowered their price objective on Entegris from $143.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday. Craig Hallum reduced their target price on shares of Entegris from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday. Citigroup raised shares of Entegris from a “neutral” rating to a “buy” rating and raised their price target for the company from $119.00 to $130.00 in a research note on Monday, September 16th. Finally, UBS Group decreased their price objective on Entegris from $130.00 to $115.00 and set a “neutral” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.10.

Institutional Trading of Entegris

Several hedge funds have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Entegris during the second quarter valued at about $26,000. Summit Securities Group LLC acquired a new stake in Entegris in the 2nd quarter valued at $27,000. Quarry LP bought a new stake in Entegris during the 2nd quarter valued at $27,000. Capital Performance Advisors LLP bought a new stake in shares of Entegris during the third quarter worth about $29,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Entegris in the 2nd quarter worth about $31,000.

Entegris Stock Performance

The firm has a market cap of $15.57 billion, a P/E ratio of 68.29, a PEG ratio of 1.45 and a beta of 1.24. The company’s 50-day moving average is $108.88 and its two-hundred day moving average is $120.97. The company has a current ratio of 3.58, a quick ratio of 2.14 and a debt-to-equity ratio of 1.18.

About Entegris

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).