Entegris (ENTG) Rose on Increased Demand
The London Company, an investment management company, released “The London Company Mid Cap Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Q4 saw a remarkable broadening of market strength, with small and mid-cap companies posting robust increases. In Q4, the fund gained 12.9% (12.8, net) vs a 12.8% gain for the Russell Midcap Index. Positive stock selection boosted the fund's outperformance in the quarter, partly offset by headwinds from sector exposure. 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 featured stocks such as Entegris, Inc. (NASDAQ:ENTG) in the fourth quarter 2023 investor letter. Headquartered in Billerica, Massachusetts, Entegris, Inc. (NASDAQ:ENTG) is a micro contamination control products manufacturing company. On February 7, 2024, Entegris, Inc. (NASDAQ:ENTG) stock closed at $119.88 per share. One-month return of Entegris, Inc. (NASDAQ:ENTG) was 6.97%, and its shares gained 41.50% of their value over the last 52 weeks. Entegris, Inc. (NASDAQ:ENTG) has a market capitalization of $18.001 billion.
The London Company Mid Cap Strategy stated the following regarding Entegris, Inc. (NASDAQ:ENTG) in its fourth quarter 2023 investor letter:
"Entegris, Inc. (NASDAQ:ENTG) - ENTG shares rallied during the quarter as visibility in the semiconductor market improved and demand for its value added product suite remains strong. ENTG is benefiting from the higher amount of materials needed for miniaturization and is winning business as its products deliver faster time to yield. Management has been delivering on its debt reduction strategy. We remain attracted to the industry's high barriers to entry, limited competitors, and high switching costs."
A technician in a specialized cleanroom suit, preparing a microcontamination control pipeline.
Entegris, Inc. (NASDAQ:ENTG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Entegris, Inc. (NASDAQ:ENTG) at the end of third quarter which was 34 in the previous quarter.
We discussed Entegris, Inc. (NASDAQ:ENTG) in another article and shared The London Company Mid Cap Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 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.
