Entegris (NASDAQ:ENTG) Shares Gap Down After Earnings Miss

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.

The semiconductor company reported $0.77 earnings per share (EPS) 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 analysts’ expectations of $832.44 million. During the same period in the previous year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis.

Entegris Dividend Announcement

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

Analysts Set New Price Targets

ENTG has been the subject of several analyst reports. KeyCorp cut 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. Needham & Company LLC restated a “buy” rating and issued a $150.00 target price on shares of Entegris in a research note on Thursday, August 1st. Mizuho dropped their price target on shares of Entegris from $143.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday. UBS Group reduced their price objective on shares of Entegris from $130.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets dropped their target price on Entegris from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.10.

Institutional Investors Weigh In On Entegris

A number of large investors have recently bought and sold shares of ENTG. Innealta Capital LLC purchased a new stake in Entegris in the 2nd quarter worth approximately $26,000. Summit Securities Group LLC acquired a new position in shares of Entegris in the 2nd quarter valued at $27,000. Quarry LP purchased a new stake in shares of Entegris during the 2nd quarter valued at $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Entegris during the 3rd quarter worth $29,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Entegris in the 2nd quarter worth $31,000.

Entegris Price Performance

The company has a 50 day simple moving average of $108.88 and a 200 day simple moving average of $120.97. The company has a market capitalization 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 quick ratio of 2.14, a current ratio of 3.58 and a debt-to-equity ratio of 1.18.

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).