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What: Shares of Entegris (Nasdaq: ENTG ) are riding high today. The stock jumped as much as 13.3% overnight before cooling off amid heavy trading.
So what: The company, which makes equipment used to purify and transport chip-making materials, reported a stellar first quarter last night. Earnings jumped 53% year-over-year to $0.23 per share on 27% higher revenue.
Now what: Management sees the gravy train rolling on in coming quarters, as chip builders remain busy with building out their production facilities. Entegris counts leading chip foundries United Microelectronics Corp. (NYSE: UMC ) and Taiwan Semiconductor Manufacturing (NYSE: TSM ) among its customers, so it should have a good handle on industry trends.
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