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

Principal Financial Group Inc. increased its position in Entegris, Inc. (NASDAQ:ENTG - Free Report) by 130.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,379,963 shares of the semiconductor company's stock after buying an additional 781,955 shares during the period. Principal Financial Group Inc. owned about 0.92% of Entegris worth $155,287,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in shares of Entegris in the second quarter worth approximately $26,000. Quarry LP acquired a new stake in shares of Entegris during the second quarter worth $27,000. Summit Securities Group LLC acquired a new position in shares of Entegris during the 2nd quarter worth about $27,000. Opal Wealth Advisors LLC bought a new stake in Entegris in the 2nd quarter valued at about $31,000. Finally, ORG Partners LLC bought a new position in shares of Entegris in the 1st quarter valued at $33,000.

Entegris Price Performance

ENTG traded down $3.42 during trading on Friday, reaching $104.79. 1,027,497 shares of the company were exchanged, compared to its average volume of 1,655,115. The company's 50-day moving average is $108.64 and its two-hundred day moving average is $120.77. The company has a market cap of $15.82 billion, a price-to-earnings ratio of 71.66, a P/E/G ratio of 1.36 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, Inc. has a 12-month low of $90.24 and a 12-month high of $147.57.

Entegris (NASDAQ:ENTG - Get Free Report) last issued its earnings results on Monday, November 4th. The semiconductor company reported $0.77 earnings per share (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 the consensus estimate of $832.44 million. Entegris had a return on equity of 12.37% and a net margin of 7.13%. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 EPS. Research analysts forecast that Entegris, Inc. will post 3.13 earnings per share for the current fiscal year.

Entegris Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, October 30th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, October 30th. Entegris's payout ratio is 26.49%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. KeyCorp cut their target price on shares of Entegris from $164.00 to $154.00 and set an "overweight" rating for the company in a research report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 target price on shares of Entegris in a report on Thursday, August 1st. UBS Group dropped their price target on Entegris from $130.00 to $115.00 and set a "neutral" rating for the company in a research note on Tuesday. Citigroup reduced their price objective on shares of Entegris from $130.00 to $123.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Mizuho decreased their price target on Entegris from $143.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.40.

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).