Needham & Company Starts Entegris Inc. (ENTG) at Hold

November 21, 2016 7:20 AM EST
Get Alerts ENTG Hot Sheet
Price: $18.40 +1.10%

Rating Summary:
    5 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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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."

For an analyst ratings summary and ratings history on Entegris Inc. click here. For more ratings news on Entegris Inc. click here.

Shares of Entegris Inc. closed at $18.45 yesterday.

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