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Investing.com - Mizuho (NYSE:MFG) raised its price target on Entegris Inc (NASDAQ:ENTG) to $100.00 from $98.00 on Thursday, while maintaining an Outperform rating on the semiconductor materials supplier. According to InvestingPro data, the stock is currently trading at $78.59, with analyst targets ranging from $85 to $115.
The company reported second-quarter earnings per share of $0.66, down 1% quarter-over-quarter, on sales that increased 2.5% from the previous quarter. Adjusted EBIT fell 3% quarter-over-quarter to $165 million despite the sales growth. The company maintains strong liquidity with a current ratio of 3.26, and generated $3.24 billion in revenue over the last twelve months.
Entegris guided for third-quarter EPS to increase approximately 8% quarter-over-quarter to $0.72 at the midpoint, with sales projected to grow 1% from the second quarter.
Mizuho noted that the first half of 2025 appears to be "the overall low point in the correction from fab construction slowdown & U.S. China leading edge restrictions," suggesting a potential recovery ahead for the company.
The firm also highlighted that Entegris’ Materials Solutions segment is "holding up much better than more WFE-exposed Advanced Purity Solutions," and mentioned that the company’s new CEO will start on August 18, with "extensive overlap with long-time retiring CEO."
In other recent news, Entegris reported second-quarter results that surpassed both company guidance and consensus estimates. The company benefited from normalized U.S.-China trade relations and positive momentum in its consumables business. Despite this strong performance, Entegris issued third-quarter guidance that did not meet investor expectations. Following this announcement, BMO Capital adjusted its price target for Entegris to $95, down from $100, while maintaining an Outperform rating. The adjustment was attributed to margin headwinds that the company might face. These developments highlight ongoing challenges and opportunities for Entegris in the semiconductor materials sector.
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