In a recent transaction on May 16, Olivier Blachier, the Senior Vice President and Chief Strategy Officer of Entegris Inc (NASDAQ:), sold 1,986 shares of company stock. The shares were sold at an average price of $133.84, resulting in a total value of $265,806.
The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this link. Following the completion of the sale, Blachier now directly owns 12,355.76 shares of the company’s stock, valued at approximately $1,654,238.74.
Entegris, headquartered in Billerica, Massachusetts, operates in the industrial applications and services sector, specializing in products for the plastics industry. The company has become a key player in providing advanced materials and process solutions for high-tech industries globally.
It’s worth noting that the sale was made under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information. This enables insiders to avoid accusations of insider trading by planning transactions ahead of time.
Investors often monitor insider sales as they can provide insights into how executives view the stock’s value. However, it’s also common for executives to sell stock for personal financial management, estate planning, and diversification reasons.
Entegris has not yet provided a comment on the recent transaction.
InvestingPro Insights
Following the recent insider transaction by Olivier Blachier of Entegris Inc (NASDAQ:ENTG), investors may gain additional insights by considering key metrics and trends provided by InvestingPro. Entegris, a significant entity in the advanced materials and process solutions space, is currently trading at a high earnings multiple with a P/E Ratio of 61.56 and an adjusted P/E Ratio over the last twelve months as of Q1 2024 at 74.09. This suggests a premium valuation which may reflect investor optimism about the company’s growth prospects or its strategic position in the high-tech industry.
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Despite a revenue decline of 5.13% over the last twelve months as of Q1 2024, Entegris has maintained a strong gross profit margin of 42.93%. This indicates the company’s ability to manage its cost of goods sold effectively and retain a significant portion of its sales as gross profit. The company’s gross profit over the same period stands at 1447.74M USD.
From a strategic perspective, one of the InvestingPro Tips highlights that Entegris has high shareholder yield, which could be a positive signal for investors seeking companies with a commitment to returning value. Additionally, Entegris is expected to remain profitable this year, a sentiment echoed by analysts who predict the company will generate profits, an aspect emphasized by another InvestingPro Tip.
Investors interested in Entegris’ performance and future outlook may find additional InvestingPro Tips by visiting https://www.investing.com/pro/ENTG. Currently, there are 12 more tips available, providing a comprehensive analysis of the company’s financial health and market position. For those considering an InvestingPro subscription, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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