Entegris (NASDAQ:ENTG) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Entegris (NASDAQ:ENTG) issued its quarterly earnings results on Wednesday. The semiconductor company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01, Briefing.com reports. Entegris had a return on equity of 11.94% and a net margin of 9.31%. The firm had revenue of $812.60 million for the quarter, compared to analyst estimates of $802.43 million. During the same period last year, the company earned $0.66 EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. Entegris updated its Q3 2024 guidance to 0.750-0.800 EPS and its Q3 guidance to $0.75-$0.80 EPS.

Entegris Stock Performance

NASDAQ:ENTG traded down $9.14 during trading hours on Thursday, reaching $109.15. 2,504,278 shares of the stock were exchanged, compared to its average volume of 1,454,824. The stock has a market capitalization of $16.46 billion, a P/E ratio of 52.91, a P/E/G ratio of 1.40 and a beta of 1.25. The firm has a 50 day simple moving average of $133.36 and a 200-day simple moving average of $131.88. The company has a quick ratio of 2.02, a current ratio of 3.35 and a debt-to-equity ratio of 1.22. Entegris has a 52 week low of $84.13 and a 52 week high of $147.57.

Entegris Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, July 31st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.37%. The ex-dividend date is Wednesday, July 31st. Entegris’s dividend payout ratio is currently 19.23%.

Analysts Set New Price Targets

ENTG has been the topic of a number of research analyst reports. BMO Capital Markets decreased their price target on shares of Entegris from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday. Mizuho raised Entegris from a “neutral” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Entegris in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Entegris from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.80.

Insider Activity

In related news, CEO Bertrand Loy sold 27,044 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $140.63, for a total transaction of $3,803,197.72. Following the transaction, the chief executive officer now directly owns 263,068 shares in the company, valued at $36,995,252.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Bertrand Loy sold 27,044 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $140.63, for a total transaction of $3,803,197.72. Following the sale, the chief executive officer now owns 263,068 shares in the company, valued at $36,995,252.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel D. Woodland sold 15,000 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the sale, the insider now owns 37,457 shares in the company, valued at approximately $5,243,980. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,796 shares of company stock worth $9,870,921. 0.67% of the stock is currently owned by insiders.

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).