Charles Shi, an analyst from Needham, maintained the Buy rating on Entegris (ENTG – Research Report). The associated price target remains the same with $150.00.
Charles Shi has given his Buy rating due to a combination of factors that suggest a positive outlook for Entegris’s stock. His decision is influenced by the management’s expectation of a moderate demand growth in 2024, as well as Entegris’s ability to outpace market growth significantly. Shi recognizes Entegris’s potential to capitalize on industry node transitions that typically require more complex materials, which is a strong suit for the company. Furthermore, he notes Entegris’s exposure to the DRAM segment, which is currently benefiting from the GenAI uplift, is poised to increase as DRAM moves towards more advanced EUV nodes, a change that is expected to boost filtration sales for Entegris.
Additionally, Shi is encouraged by Entegris’s strategic focus on capital allocation, with a top priority being debt reduction, while still maintaining flexibility for potential mergers and acquisitions, an area where Entegris has historically excelled. This balanced approach to financial management, coupled with the company’s strategic positioning in the market, contributes to Shi’s confidence in Entegris’s continued success and supports his Buy rating. The overall analysis indicates that Entegris is well-positioned to thrive in the evolving semiconductor industry, making it an attractive investment opportunity.
Shi covers the Technology sector, focusing on stocks such as Entegris, AXT, and Cadence Design. According to TipRanks, Shi has an average return of 15.1% and a 58.91% success rate on recommended stocks.
In another report released on May 2, Craig-Hallum also maintained a Buy rating on the stock with a $150.00 price target.
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Entegris (ENTG) Company Description:
Entegris, Inc. engages in the development, manufacture, and supply of specialty materials for microelectronics industry. It operates through the following business segments: Specialty Chemicals and Engineered Materials (SCEM); Advanced Materials Handling (AMH); and Microcontamination Control (MC). The SCEM segment provides purity process chemistries, gases, and materials and delivery systems to support semiconductor and other advance manufacturing processes. The AMH segment develops solutions to monitor, protect, transport, and deliver critical liquid chemistries and substrates for a broad set of applications in the semiconductor industry and other high-technology industries. The MC segment offers solutions to purify critical liquid chemistries and gases used in semiconductor manufacturing processes and other high-technology industries. The company was founded in 1966 and is headquartered in Billerica, MA.
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