Entegris (NASDAQ:ENTG) Shares Gap Down - Here's What Happened

Entegris, Inc. (NASDAQ:ENTG - Get Free Report)'s share price gapped down prior to trading on Monday . 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.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. BMO Capital Markets lowered their price objective on Entegris from $160.00 to $145.00 and set an "outperform" rating for the company in a research report on Thursday, August 1st. Mizuho upgraded shares of Entegris from a "neutral" rating to an "outperform" rating and set a $143.00 target price for the company in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Entegris from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reiterated a "buy" rating and set a $150.00 price objective on shares of Entegris in a research note on Thursday, August 1st. Finally, Citigroup raised Entegris from a "neutral" rating to a "buy" rating and upped their target price for the company from $119.00 to $130.00 in a research report on Monday, September 16th. One equities 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $146.40.

Entegris Stock Down 5.7 %

The firm has a 50-day moving average price of $109.36 and a two-hundred day moving average price of $121.28. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of 82.77, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.14 and a current ratio of 3.58.

Entegris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, October 30th will be paid 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 0.40%. Entegris's dividend payout ratio is presently 32.79%.

Hedge Funds Weigh In On Entegris

Hedge funds and other institutional investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co lifted its position in Entegris by 161.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 107,677 shares of the semiconductor company's stock valued at $15,135,000 after purchasing an additional 66,437 shares during the period. Diversified Trust Co acquired a new stake in shares of Entegris in the 2nd quarter valued at approximately $851,000. Cetera Investment Advisers boosted its stake in shares of Entegris by 128.0% in the first quarter. Cetera Investment Advisers now owns 20,387 shares of the semiconductor company's stock valued at $2,865,000 after buying an additional 11,444 shares in the last quarter. SG Americas Securities LLC grew its holdings in Entegris by 272.2% during the first quarter. SG Americas Securities LLC now owns 6,484 shares of the semiconductor company's stock worth $911,000 after acquiring an additional 4,742 shares during the period. Finally, Swedbank AB raised its position in Entegris by 520.3% in the second quarter. Swedbank AB now owns 300,361 shares of the semiconductor company's stock worth $40,669,000 after acquiring an additional 251,938 shares in the last quarter.

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).