Entegris, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Atif Malik from Citi maintained a Buy rating on the stock and has a $100.00 price target.
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Atif Malik’s rating is based on a combination of factors that suggest a positive outlook for Entegris. The company is expected to experience a significant turnaround by 2026, driven by the ramp-up of 2nm technology at its major customer, TSMC. This technological advancement is anticipated to enhance Entegris’s market performance, as similar transitions in the past have resulted in notable revenue growth and stock outperformance compared to the semiconductor equipment sector.
Furthermore, the new CEO’s strategic initiatives are seen as promising, particularly in terms of improving gross margins over the long term. Although there are concerns about the mainstream market recovery and potential share loss in China, these are expected to be gradual challenges. The upcoming SEMICON West meetings are viewed as potential catalysts for positive developments, with expectations of increased wafer fabrication equipment demand driven by AI advancements. These factors collectively support the Buy rating for Entegris’s stock.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ENTG in relation to earlier this year.