Entegris (ENTG) Gained From Stabilization in Semiconductor Industry
The London Company, an investment management company, released “The London Company Mid Cap Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 6.5% gross, (6.4% net) compared to a 4.1% return for the Russell Midcap Index. The outperformance of the fund is due to strong stock selection and limited exposure to banks. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company Mid Cap Strategy highlighted stocks like Entegris, Inc. (NASDAQ:ENTG) in the Q1 2023 investor letter. Headquartered in Billerica, Massachusetts, Entegris, Inc. (NASDAQ:ENTG) is a micro contamination control products manufacturing company. On June 29, 2023, Entegris, Inc. (NASDAQ:ENTG) stock closed at $108.97 per share. One-month return of Entegris, Inc. (NASDAQ:ENTG) was 0.54%, and its shares gained 23.30% of their value over the last 52 weeks. Entegris, Inc. (NASDAQ:ENTG) has a market capitalization of $16.311 billion.
The London Company Mid Cap Strategy made the following comment about Entegris, Inc. (NASDAQ:ENTG) in its first quarter 2023 investor letter:
"Entegris, Inc. (NASDAQ:ENTG): ENTG rebounded in Q1 as the semiconductor industry showed signs of stabilization. We believe ENTG can continue to gain share due to its breadth of solutions, unit-driven business, and higher purity requirements. The transition of new technology and nodes will be tailwinds for some time. Over the years, ENTG has drastically increased its size and scale and expanded its addressable markets, becoming one of the most diversified players in the semi- materials industry. We remain attracted to the industry's high barriers to entry, limited competition & high switching costs."
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Entegris, Inc. (NASDAQ:ENTG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Entegris, Inc. (NASDAQ:ENTG) at the end of first quarter 2023 which was 28 in the previous quarter.
We discussed Entegris, Inc. (NASDAQ:ENTG) in another article and shared the list of best semiconductor equipment stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 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.
