Olivier Blachier, Senior Vice President and Chief Strategy Officer at Entegris Inc. (NASDAQ:ENTG), recently executed transactions involving the company's common stock. As per the latest SEC filings, Blachier sold 502 shares on November 18, 2024, at an average price of $97.32 per share, totaling $48,854.
Prior to this, on November 15, 2024, Blachier had 417 shares automatically withheld to cover tax obligations related to restricted stock units, valued at $97.67 per share. Following these transactions, Blachier holds approximately 11,514.61 shares of Entegris. The sale was conducted under a pre-established Rule 10b5-1 trading plan.
In other recent news, Entegris Inc. has experienced a series of noteworthy developments. The company reported a 7% year-on-year increase in revenue, reaching $808 million, primarily due to a 14% revenue increase in the Materials Solutions division. Despite a reduction in its 2024 revenue outlook by approximately $85 million, Entegris anticipates industry growth of 1% to 2% in 2025 and aims to outperform the industry by three to six points. The firm also has plans to ramp up production at new facilities in Taiwan and Colorado by late 2025.
KeyBanc Capital Markets, BMO Capital Markets, and Needham & Company have all adjusted their price targets for Entegris. KeyBanc lowered its price target to $154 but maintained an Overweight rating, BMO reduced its target to $135 while maintaining an Outperform rating, and Needham cut its target to $120 but kept a Buy rating.
These adjustments were influenced by Entegris' weaker than expected fourth-quarter outlook and a decrease in its third-quarter 2024 earnings. However, despite the revised market conditions and slower anticipated recovery in wafer volume, these firms continue to hold a positive outlook on Entegris' future performance.
InvestingPro Insights
Entegris Inc. (NASDAQ:ENTG) has been facing some headwinds, as reflected in recent insider transactions and market performance. According to InvestingPro data, the company's stock is currently trading near its 52-week low, with a price that is 67.61% of its 52-week high. This aligns with the recent insider selling activity by Senior Vice President Olivier Blachier.
Despite these challenges, Entegris maintains a strong financial position. InvestingPro Tips highlight that the company's liquid assets exceed short-term obligations, indicating a solid balance sheet. Additionally, Entegris has been profitable over the last twelve months, with analysts predicting continued profitability this year.
However, investors should note that Entegris is trading at a high P/E ratio of 65.67, which is significantly above the market average. This valuation metric, coupled with the InvestingPro Tip that the company is trading at a high earnings multiple, suggests that the stock may be overvalued relative to its current earnings.
For those considering an investment in Entegris, it's worth noting that InvestingPro offers 12 additional tips for this stock, providing a more comprehensive analysis for potential investors. These insights can be particularly valuable given the company's complex financial picture, combining high valuation multiples with strong historical returns and current profitability.
Olivier Blachier, Senior Vice President and Chief Strategy Officer at Entegris Inc. (NASDAQ:ENTG), recently executed transactions involving the company's common stock. As per the latest SEC filings, Blachier sold 502 shares on November 18, 2024, at an average price of $97.32 per share, totaling $48,854.
Prior to this, on November 15, 2024, Blachier had 417 shares automatically withheld to cover tax obligations related to restricted stock units, valued at $97.67 per share. Following these transactions, Blachier holds approximately 11,514.61 shares of Entegris. The sale was conducted under a pre-established Rule 10b5-1 trading plan.
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