10 Best Semiconductor Equipment Stocks to Buy Now

6. Entegris, Inc. (NASDAQ:ENTG)

Number of Hedge Fund Holders In Q3 2024: 42

Entegris, Inc. (NASDAQ:ENTG) is a global semiconductor equipment company that primarily provides products and services to enable chip manufacturers to maintain the purity of their products and manufacturing facilities. Therefore, the shares are down 6.5% year-to-date as while AI chip demand has generated catalysts for the chip industry, lags in other sectors such as automotive and industrial have led to hard times for firms like Entegris, Inc. (NASDAQ:ENTG). The stock’s major drop came in July after the firm’s third-quarter guidance missed analyst estimates and indicated a prolonged slowdown in the chip sector. Entegris, Inc. (NASDAQ:ENTG)’s shares fell by 11% in November after the company $807 million in revenue and $0.77 in EPS missed analyst estimates of $832 million and $0.78. The Q4 midpoint revenue guidance of $825 million also missed estimates of $879 million. Looking ahead, the firm has to rely on the chip sector’s recovery to experience any catalysts.

Carillon Towers mentioned Entegris, Inc. (NASDAQ:ENTG) in its Q3 2024 investor letter. Here is what the fund said:

“Entegris, Inc. (NASDAQ:ENTG) provides specialty semiconductor materials for the microelectronics industry. Recently, investors have become concerned about the overall semiconductor cycle and how demand for Entegris’s chemicals will fare in a slowing economic environment. We remain confident that the company is in an area of the industry that will continue to grow nicely, even in the event there is a slowdown in the broader semiconductor industry. The company is a key consumable supplier, and as the complexity of producing chips rises, the company’s products are even more critical.”