Entegris downgraded to Hold at Craig-Hallum on limited visibility

Craig-Hallum downgraded Entegris to Hold from Buy with an unchanged price target of $102. Entegris reported “solid results” and reiterated its full year revenue outlook, notes the analyst. While “encouraged” with Entegris’ execution, with relatively limited visibility to a meaningful recovery in either industry wafer starts or capex levels and the shares up 57% year-to-date, the firm prefers “stepping to the sidelines” at this point.