Needham Investment Management Lowers stake in Entegris Inc (ENTG)

Entegris Inc (ENTG) : Needham Investment Management reduced its stake in Entegris Inc by 6.01% during the most recent quarter end. The investment management company now holds a total of 727,000 shares of Entegris Inc which is valued at $12,380,810 after selling 46,500 shares in Entegris Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Entegris Inc makes up approximately 3.26% of Needham Investment Management’s portfolio.

Other Hedge Funds, Including , Bayesian Capital Management Lp sold out all of its stake in ENTG during the most recent quarter. The investment firm sold 11,804 shares of ENTG which is valued $201,022. Aperio Group added ENTG to its portfolio by purchasing 11,662 company shares during the most recent quarter which is valued at $198,604.Ubs Asset Management Americas Inc boosted its stake in ENTG in the latest quarter, The investment management firm added 5,941 additional shares and now holds a total of 89,773 shares of Entegris Inc which is valued at $1,520,755.

Entegris Inc opened for trading at $17.1 and hit $17.28 on the upside on Thursday, eventually ending the session at $17.28, with a gain of 1.41% or 0.24 points. The heightened volatility saw the trading volume jump to 4,60,736 shares. Company has a market cap of $2,440 M.

On the company’s financial health, Entegris Inc reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.20. The company had revenue of $303.05 million for the quarter, compared to analysts expectations of $278.93 million. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Entegris Inc. Entegris Inc was Downgraded by Dougherty & Company to ” Neutral” on Jul 28, 2016.

Entegris Inc. is a developer manufacturer and supplier of materials and solutions for manufacturing processes in the semiconductor and other high-technology industries. The Company designs manufactures and markets its products through two segments: Critical Materials Handling and Electronic Materials. In the Critical Materials Handling segment the Company offers a range of products that purify monitor and deliver critical liquids and gases to the semiconductor manufacturing process and similar manufacturing processes as well as microenvironment products. In the Electronic Materials segment the Company offers a range of materials and materials delivery systems to support the semiconductor manufacturing processes. The Company’s products and materials are used to manufacture semiconductors micro-electromechanical systems (MEMS) flat panel displays light emitting diodes (LEDs) chemicals and critical components for aerospace glass manufacturing and biomedical applications.

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