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ENTG

Entegris

$31.28

0.37 (1.20%)

, VSM

Versum Materials

$31.65

1.47 (4.87%)

06:20
01/28/19
01/28
06:20
01/28/19
06:20

Entergis, Versum Materials combination expected to have $3B in revenue for 2018

The combined company will have approximately $3B in revenue and approximately $1B in Adjusted EBITDA on a pro forma basis for calendar year 2018. It will be well capitalized with a strong balance sheet and a pro forma net leverage ratio of 1.1x. In addition, it will have flexibility to invest, make acquisitions, and return capital to stockholders, while enjoying greater earnings stability and margin growth potential. The combination is expected to generate more than $75M of annual cost synergies in manufacturing, logistics, procurement and SG&A rationalization within 12 months post close. In addition, the combined company is expected to realize significant revenue growth synergies from cross-selling opportunities, with further potential upside from capex and revenue synergies.

ENTG

Entegris

$31.28

0.37 (1.20%)

VSM

Versum Materials

$31.65

1.47 (4.87%)

  • 04

    Feb

  • 05

    Feb

ENTG Entegris
$31.28

0.37 (1.20%)

01/08/19
GSCO
01/08/19
DOWNGRADE
Target $30
GSCO
Neutral
Entegris downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Toshiya Hari downgraded Entegris to Neutral with an unchanged price target of $30. Near-term industry challenges pose risk to the company's consensus estimates, Hari tells investors in a research note. Further, the analyst highlights the stock's recent outperformance in his downgrade to Neutral. He recommends staying selective in the Semiconductor space.
10/01/18
DBAB
10/01/18
UPGRADE
Target $38
DBAB
Buy
Entegris upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Sidney Ho upgraded Entegris (ENTG) to Buy while lowering his price target for the shares to $38 from $40. The analyst prefers the "defensive business model" of Entegris amid the uncertainty in the Semicap equipment sector. He coupled the upgrade with a downgrade of both Applied Materials (AMAT) and Lam Research (LRCX). Ho also kept a Buy rating on MKS Instruments (MKSI) while lowering his price target for the shares to $38 from $40.
10/01/18
DBAB
10/01/18
DOWNGRADE
Target $43
DBAB
Hold
Applied Materials downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Sidney Ho downgraded Applied Materials (AMAT) to Hold and lowered his price target for the shares to $43 from $58. Semicap Equipment stocks are not expensive but lack positive catalysts, Ho tells investors in a research note. The analyst believes investor fears over that the industry has reached a cyclical peak will remain as long as the memory market stays weak. Further, he sees risk is for additional capex push-outs, especially in the first half of 2019. With this setup, the analyst prefers companies with a defensive business model like Entegris (ENTG) or stocks that look mispriced like MKS Instruments (MKSI) over broad-based names Applied Materials, Lam Research (LRCX) and KLA-Tencor (KLAC).
09/28/18
STFL
09/28/18
NO CHANGE
STFL
KLA-Tencor, Applied Materials have high exposure to Intel logic, says Stifel
Stifel analyst Patrick Ho identified KLA-Tencor (KLAC), Applied Materials (AMAT), and Nanometrics (NANO) as among the companies with the highest exposure to Intel's (INTC) logic segment after the chipmaker said its 2018 capex will increase to $15B due to additional 14nm capacity being brought on across its leading-edge network. Ho also believes materials companies like Entegris (ENTG) and Versum Materials (VSM) have good exposure to Intel logic, while FormFactor (FORM) should benefit from new 14nm designs. The firm has Hold ratings on Intel and Nanometrics and Buy ratings on the other stocks mentioned above.
VSM Versum Materials
$31.65

1.47 (4.87%)

12/11/18
12/11/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pfizer (PFE) downgraded to Neutral from Overweight at JPMorgan with analyst Christopher Schott citing valuation. 2. Splunk (SPLK) resumed with a Neutral from Buy at Guggenheim with analyst Imtiaz Koujalgi saying while the company's fundamentals are strong, he's "looking for more clarity." 3. CalAmp (CAMP) downgraded to Outperform from Strong Buy at First Analysis and to Market Perform from Outperform at Northland. 4. Acorda Therapeutics (ACOR) downgraded to Sell from Neutral at Goldman Sachs with analyst Salveen Richter saying the commercial outlook for Inbrija appears limited. 5. Versum Materials (VSM) downgraded to Sell from Neutral at Goldman Sachs with analyst Toshiya Hari saying while he remains constructive on the Semiconductor Materials sub-sector broadly, he believes the market is underestimating the extent to which weaker semiconductor capital expenditures could negatively impact the Delivery Systems and Services segment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/11/18
GSCO
12/11/18
DOWNGRADE
Target $26
GSCO
Sell
Versum Materials downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Toshiya Hari downgraded Versum Materials to Sell and lowered his price target for the shares to $26 from $31. While the analyst remains constructive on the Semiconductor Materials sub-sector broadly, he believes the market is underestimating the extent to which weaker semiconductor capital expenditures could negatively impact the Delivery Systems and Services segment. Further, Hari also expects downside to Materials segment revenue. Following meetings with companies in Asia last week, the analyst reduced his 2019 Semiconductor capex outlook from down 6% year-over-year to down 13%. He sees downside risk to Versum Materials' consensus estimates.
11/23/18
LOOP
11/23/18
NO CHANGE
Target $42
LOOP
Hold
Versum Materials price target lowered to $42 from $44 at Loop Capital
Loop Capital analyst Chris Kapsch lowered his price target on Versum Materials (VRSM) to $42 and also lowered his FY19 EPS view to $2.50 from $2.65 while keeping his Hold rating. The analyst notes that while the company's earnings trajectory has been on track, the growth strength came mainly from the "capex-dependent" Delivery Systems and Services segment, and its Materials segment has lagged the revenue growth rate of Cabot Microelectronics (CCMP). Kapsch adds that Versum Materials may turn out to be a beneficiary of the transition by memory chip makers to 3D NAND architecture, but also warns that a decline in its top segment comps would be met with caution from investors.

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ROIC

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LRAD

LRAD Corporation

$3.35

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, GNSS

Genasys

$3.35

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CRWD

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$46.15

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05:21
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FMS

Fresenius Medical

$32.21

-2.05 (-5.98%)

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UXIN

Uxin

$2.72

0.07 (2.64%)

05:19
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SNAP

Snap

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05:18
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IRBT

iRobot

$53.88

-1.82 (-3.27%)

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HINOY

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$0.00

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NOW

ServiceNow

$228.26

-12.315 (-5.12%)

05:10
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LAMR

Lamar Advertising

$83.25

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NOW

ServiceNow

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RIGL

Rigel Pharmaceuticals

$1.68

(0.00%)

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