New Trade for August 10th, 2023

Amid a more challenging outlook for large-caps, several experts point to mid-caps as the sweet spot for the year’s second half. Today’s recommendation is a robust mid-cap tech name from an industry on the cusp of a cyclical upturn. Read on to learn more about this potential multi-year growth story just getting started.

Entegris, Inc (ENTG)

While 2022 was wrought with challenges for semiconductor industry solutions and materials provider Entegris, 2023 has brought a stellar rebound. And this could be just the beginning. After losing more than half of their value last year, Entegris shares are up more than 55% YTD.  

The semis industry has been flashing signals that it is on the cusp of its next cyclical upturn adding steam to ENTG’s own organic growth drivers. The London Company Mid Cap Strategy made the following comment about Entegris in its first quarter 2023 investor letter:

Entegris 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.”

The pros on Wall Street say to Buy ENTG. While shares are up significantly in recent months, we see a multi-year runway of outperformance for this unique semis player.

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