Principal Financial Group Inc. Increases Stake in Entegris, Inc. (NASDAQ:ENTG)

Principal Financial Group Inc. boosted its holdings in Entegris, Inc. (NASDAQ:ENTG) by 130.8% in the third quarter, Holdings Channel reports. The institutional investor owned 1,379,963 shares of the semiconductor company’s stock after acquiring an additional 781,955 shares during the quarter. Principal Financial Group Inc.’s holdings in Entegris were worth $155,287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENTG. Charles Schwab Investment Management Inc. grew its position in shares of Entegris by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,065,812 shares of the semiconductor company’s stock valued at $119,936,000 after purchasing an additional 14,650 shares in the last quarter. Synovus Financial Corp boosted its stake in Entegris by 102.3% in the 3rd quarter. Synovus Financial Corp now owns 38,253 shares of the semiconductor company’s stock worth $4,305,000 after purchasing an additional 19,340 shares during the period. Janney Montgomery Scott LLC bought a new position in Entegris in the 3rd quarter worth about $1,158,000. American Century Companies Inc. grew its stake in Entegris by 20.2% during the second quarter. American Century Companies Inc. now owns 1,523,824 shares of the semiconductor company’s stock valued at $206,326,000 after acquiring an additional 256,186 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Entegris during the 3rd quarter valued at $1,963,000.

Analyst Ratings Changes

ENTG has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price objective on Entegris from $145.00 to $135.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Mizuho lowered their price target on Entegris from $143.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Craig Hallum cut their price objective on Entegris from $150.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Citigroup dropped their target price on Entegris from $130.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Entegris from $145.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.40.

Entegris Stock Performance

Shares of ENTG stock opened at $97.91 on Friday. The company has a market capitalization of $14.78 billion, a P/E ratio of 64.84, a PEG ratio of 1.80 and a beta of 1.23. Entegris, Inc. has a fifty-two week low of $94.92 and a fifty-two week high of $147.57. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.83 and a current ratio of 2.92. The stock has a 50 day moving average price of $105.25 and a two-hundred day moving average price of $115.59.

Entegris (NASDAQ:ENTG) last issued its earnings results on Monday, November 4th. The semiconductor company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). The firm had revenue of $807.70 million during the quarter, compared to analysts’ expectations of $832.44 million. Entegris had a return on equity of 12.24% and a net margin of 7.13%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. Analysts expect that Entegris, Inc. will post 2.99 earnings per share for the current year.

Entegris Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Wednesday, October 30th were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, October 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.41%. Entegris’s dividend payout ratio is currently 26.49%.

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).