BILLERICA, Mass. - Entegris, Inc. (NASDAQ:ENTG), a key player in the supply of materials and solutions for the semiconductor sector, has announced the induction of Mary Puma to its board of directors. The addition of Ms. Puma, the former president and CEO of Axcelis Technologies (NASDAQ:ACLS), Inc., increases the board's size to eight members.
Mary Puma's tenure at Axcelis Technologies spanned from January 2002 until May 2023, where she played a pivotal role in steering the company's direction. Her prior experience includes various leadership roles at Eaton (NYSE:ETN) Corporation and a 15-year stint in marketing and management at General Electric Company (NYSE:GE). Ms. Puma's current board memberships extend to Ciena (NYSE:CIEN) Corporation, SMART Global Holdings, Inc., and Allegro Microsystems, Inc. She is also the chairperson of SEMI, an association dedicated to the global electronics supply chain.
The chair of the board, president and CEO of Entegris, Bertrand Loy, expressed confidence in Puma's vast leadership experience and profound understanding of the semiconductor industry. He highlighted her expected contributions to the company's growth and innovative efforts.
Entegris, with a workforce of approximately 8,000 employees worldwide, operates across various countries including the United States, Canada, China, France, Germany, Israel, Japan, Malaysia, Singapore, South Korea, and Taiwan. The company is recognized for its commitment to quality and holds ISO 9001 certification.
The information for this news article is based on a press release statement.
In other recent news, Entegris Inc reported strong second quarter results, with sales reaching $813 million, a 10% increase from the previous quarter and a 6% rise year-over-year. The company also announced a preliminary award for up to $75 million to support the construction of a new manufacturing facility in Colorado, with sales expected to commence in the latter half of 2025. Entegris recently made a significant move with the acquisition of CMC Materials, valued at $5.7 billion, which is expected to add a strategic chemical mechanical planarization slurry and pad global franchise to the company's portfolio. Analysts from CL King and Mizuho have maintained a positive outlook on the company, with CL King maintaining a Buy rating and a steady price target of $150.00, while Mizuho upgraded the company from Neutral to Outperform. However, BMO Capital Markets adjusted its stance on Entegris, lowering its price target to $145 from $160 while maintaining an Outperform rating, following a softer third-quarter outlook. These recent developments highlight Entegris' strong performance and potential for future growth in the semiconductor industry.
InvestingPro Insights
Entegris, Inc. (NASDAQ:ENTG) has been making strategic moves to strengthen its board and position itself for continued success in the dynamic semiconductor industry. As investors look at the company's performance and potential, InvestingPro data offers valuable insights into Entegris' current financial health and market position.
With a market capitalization of $16.57 billion, Entegris is a significant player in its sector. The company's Price to Earnings (P/E) ratio stands at 89.95, which reflects a premium valuation by the market, possibly due to investor confidence in its future earnings potential. However, when adjusted for the last twelve months as of Q2 2024, this ratio drops to a more moderate 63.3. This suggests that Entegris' earnings may be on an upward trajectory, which could explain the market's optimistic pricing.
Entegris has demonstrated a high gross profit margin of 43.83% over the last twelve months as of Q2 2024, indicating strong operational efficiency and a solid competitive edge in its ability to mark up its products. The company's EBITDA stands at $901.44 million for the same period, despite a decrease of 12.28% in EBITDA growth, which may warrant investor attention to the factors driving this change.
Among the InvestingPro Tips, two particularly stand out for Entegris. The company is noted for having a high shareholder yield, which is a positive sign for investors looking for returns through dividends and share repurchases. Additionally, Entegris is highlighted for trading at a high EBITDA valuation multiple, which could suggest that the market expects strong future performance or that the company is currently overvalued, depending on the perspective of individual investors.
For those interested in a deeper dive into Entegris' financial metrics and additional analyst insights, there are 11 more InvestingPro Tips available on the platform, which can be accessed at https://www.investing.com/pro/ENTG. These tips provide a more comprehensive understanding of the company's financial health and future prospects, helping investors make more informed decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.