KeyBanc Capital Markets has raised its 12-month price objective for Entegris Inc (ENTG) to $156.00, up from $111.00, while keeping an Overweight recommendation on the semiconductor materials supplier. The new target aligns with the highest analyst price objective for the stock; recent market movement has pushed the shares up 18.71% over the past week and 58.52% year-to-date, according to InvestingPro data.
The firm says its revised stance reflects signals from Entegris’s fourth-quarter update that point toward a meaningful recovery in demand, though the initial inflection is characterized as modest. KeyBanc analyst Aleksey Yefremov observed that management’s guidance for the first half of 2026 implies only about 4% topline growth, indicating a gradual start to the recovery phase.
Still, KeyBanc highlighted elements of management commentary that it interprets as constructive. Management reported 5% MSI growth and indicated positive capital expenditure trends, along with expectations for healthy outgrowth in 2026. These factors inform KeyBanc’s view that Entegris can achieve high-single-digit sales growth as the year progresses and industry conditions improve.
On balance, the firm expects the company to top its first-half 2026 guidance and to accelerate growth to approximately 8-10% in the second half of 2026. Key drivers cited include opportunities for content gains per wafer and improving wafer starts, which together are seen as the main mechanisms behind the anticipated acceleration in revenue growth.
KeyBanc also pointed to analyst behavior as corroborative evidence for a changing outlook. InvestingPro data show six analysts have recently raised their earnings expectations for Entegris, a sign that sell-side forecasts are being adjusted upward following the latest company disclosures.
The firm framed the quarterly results and management commentary as a positive indicator for the broader semiconductor industry, and it pointed to continued opportunities for Entegris to increase content per wafer as a rationale for maintaining its Overweight position.
Separately, Entegris reported fourth-quarter 2025 financial results that beat consensus estimates. The company posted earnings per share of $0.70 versus a forecast of $0.66, representing a 6.06% surprise. Revenue for the quarter reached $824.0 million, above the anticipated $811.04 million. Those results have drawn attention from analysts and are notable for investors assessing company momentum and near-term fundamentals.
Investor takeaway - KeyBanc’s price-target increase and maintained Overweight rating underscore a belief that Entegris is moving into a recovery phase for semiconductor materials demand, albeit with a measured early pace and stronger acceleration expected later in 2026.