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Entegris (ENTG) Soars 13.6%: Is Further Upside Left in the Stock?
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Entegris (ENTG - Free Report) shares soared 13.6% in the last trading session to close at $178.77. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.2% gain over the past four weeks.
Entegris shares have been gaining since the company announced a non-exclusive cross-licensing agreement with JSR Corporation to aid the semiconductor industry in advancing extreme ultraviolet (EUV) lithography for next-generation chip manufacturing. The combination of JSR Corp’s metal oxide resist innovation with Entegris’ purification and materials handling capabilities is expected to aid the potential applications of these technologies within the semiconductor materials ecosystem.
This agreement helps the companies share their metal oxide resist patents and drop their existing legal disputes regarding patent reviews.
This maker of equipment used in chip manufacturing is expected to post quarterly earnings of $0.81 per share in its upcoming report, which represents a year-over-year change of +22.7%. Revenues are expected to be $834.1 million, up 5.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Entegris, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ENTG going forward to see if this recent jump can turn into more strength down the road.
Entegris is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, FormFactor (FORM - Free Report) , finished the last trading session 6.9% higher at $149.55. FORM has returned 11.7% over the past month.
FormFactor's consensus EPS estimate for the upcoming report has changed +12.8% over the past month to $0.61. Compared to the company's year-ago EPS, this represents a change of +125.9%. FormFactor currently boasts a Zacks Rank of #1 (Strong Buy).
View the Zacks #1 Rank List
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Entegris (ENTG) Soars 13.6%: Is Further Upside Left in the Stock?
Entegris (ENTG - Free Report) shares soared 13.6% in the last trading session to close at $178.77. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.2% gain over the past four weeks.
Entegris shares have been gaining since the company announced a non-exclusive cross-licensing agreement with JSR Corporation to aid the semiconductor industry in advancing extreme ultraviolet (EUV) lithography for next-generation chip manufacturing. The combination of JSR Corp’s metal oxide resist innovation with Entegris’ purification and materials handling capabilities is expected to aid the potential applications of these technologies within the semiconductor materials ecosystem.
This agreement helps the companies share their metal oxide resist patents and drop their existing legal disputes regarding patent reviews.
This maker of equipment used in chip manufacturing is expected to post quarterly earnings of $0.81 per share in its upcoming report, which represents a year-over-year change of +22.7%. Revenues are expected to be $834.1 million, up 5.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Entegris, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ENTG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Entegris is a member of the Zacks Electronics - Semiconductors industry. One other stock in the same industry, FormFactor (FORM - Free Report) , finished the last trading session 6.9% higher at $149.55. FORM has returned 11.7% over the past month.
FormFactor's consensus EPS estimate for the upcoming report has changed +12.8% over the past month to $0.61. Compared to the company's year-ago EPS, this represents a change of +125.9%. FormFactor currently boasts a Zacks Rank of #1 (Strong Buy).