Hennessy Equity and Income Fund on Entegris, Inc.
Thesis
Entegris benefited from improving fab utilization and accelerating AI-driven semiconductor demand. Advanced-node transitions are increasing materials intensity per wafer, while improving memory and logic markets broaden the growth opportunity. The fund believes Entegris is gaining share and that, with its investment cycle largely complete, margin expansion and improving free cash flow should drive the next phase of earnings growth. Its competitive position and high barriers to entry underpin the fund's continued attraction to the stock.
“We remain attracted to Entegris’ strong competitive positioning and high barriers to entry.”