Norges Bank Makes New $445.99 Million Investment in Entegris, Inc. (NASDAQ:ENTG)

Norges Bank acquired a new stake in shares of Entegris, Inc. (NASDAQ:ENTG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,502,200 shares of the semiconductor company’s stock, valued at approximately $445,988,000. Norges Bank owned about 2.98% of Entegris at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC grew its stake in Entegris by 195.7% during the fourth quarter. Fortitude Family Office LLC now owns 414 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 274 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Entegris during the 4th quarter valued at about $42,000. Eagle Bay Advisors LLC grew its position in shares of Entegris by 4,375.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 716 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 700 shares in the last quarter. Promus Capital LLC bought a new stake in shares of Entegris in the fourth quarter worth about $71,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Entegris by 27.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 731 shares of the semiconductor company’s stock worth $73,000 after buying an additional 158 shares in the last quarter.

Entegris Stock Performance

Entegris stock opened at $88.74 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.08 and a quick ratio of 1.86. The firm has a market capitalization of $13.43 billion, a P/E ratio of 45.98, a price-to-earnings-growth ratio of 1.50 and a beta of 1.32. Entegris, Inc. has a 1-year low of $87.72 and a 1-year high of $147.57. The company’s 50-day moving average is $101.34 and its 200 day moving average is $104.22.

Entegris (NASDAQ:ENTG) last issued its quarterly earnings results on Thursday, February 6th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. Entegris had a return on equity of 12.83% and a net margin of 9.03%. Research analysts forecast that Entegris, Inc. will post 3.51 EPS for the current year.

Entegris Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Wednesday, January 29th. Entegris’s payout ratio is presently 20.73%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. StockNews.com downgraded Entegris from a “hold” rating to a “sell” rating in a research note on Monday, March 24th. KeyCorp reduced their price target on shares of Entegris from $150.00 to $141.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Mizuho lowered their price objective on shares of Entegris from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Entegris in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $124.88.

Insider Buying and Selling

In related news, SVP Olivier Blachier sold 984 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $108.00, for a total value of $106,272.00. Following the completion of the sale, the senior vice president now owns 10,903 shares in the company, valued at approximately $1,177,524. The trade was a 8.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Clinton M. Haris sold 12,652 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $106.92, for a total value of $1,352,751.84. Following the completion of the transaction, the senior vice president now directly owns 34,820 shares in the company, valued at approximately $3,722,954.40. This trade represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. 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).