Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. Mid-cap stocks experienced a notable improvement in the third quarter after incurring losses in the second quarter. The Russell Midcap Growth Index (up 6.54%) underperformed the Russell Midcap Value Index (up 10.08%) during the quarter. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like Entegris, Inc. (NASDAQ:ENTG) in the third quarter 2024 investor letter. Headquartered in Billerica, Massachusetts, Entegris, Inc. (NASDAQ:ENTG) is a micro contamination control products manufacturing company. The one-month return of Entegris, Inc. (NASDAQ:ENTG) was 0.22%, and its shares gained 1.32% of their value over the last 52 weeks. On November 21, 2024, Entegris, Inc. (NASDAQ:ENTG) stock closed at $105.24 per share with a market capitalization of $15.891 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Entegris, Inc. (NASDAQ:ENTG) in its Q3 2024 investor letter:
“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.”
A technician in a specialized cleanroom suit, preparing a microcontamination control pipeline.
Entegris, Inc. (NASDAQ:ENTG) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held Entegris, Inc. (NASDAQ:ENTG) at the end of the third quarter which was 37 in the previous quarter. Entegris, Inc.’s (NASDAQ:ENTG) third quarter sales were $808 million, down 9% year-over-year and 1% sequentially. While we acknowledge the potential of Entegris, Inc. (NASDAQ:ENTG) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Entegris, Inc. (NASDAQ:ENTG) and shared the list of trending AI stocks on latest news. Entegris, Inc. (NASDAQ:ENTG) detracted from The London Company Mid Cap Strategy’s performance in the third quarter. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.