Needham & Company Starts Entegris Inc. (ENTG) at Hold
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Needham & Company initiates coverage on Entegris Inc. (NASDAQ: ENTG) with a Hold rating.
Analyst Y. Edwin Mok commented, "We are initiating coverage on Entegris, Inc. with a Hold rating. As the market leader in contamination control technologies, we believe Entegris is uniquely positioned to benefit from increased yield challenges in semiconductor wafer production. However, its Electronic Materials business has continued to underperform the Fab Materials industry. Through the ATMI acquisition in April 2014, Entegris was able to drive greater scale and profitability, but we believe the company has underperformed the potential of the combined business and should take steps to further improve margins. We view the stock as fairly valued at a 2017 EV/EBITDA of 10x, comparable to peers. We recommend investors wait for either a better entry point or validation of stronger growth before getting aggressive."
Shares of Entegris Inc. closed at $18.45 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesNeedham & Company, Definitive Agreement
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