NEW YORK (TheStreet) -- Shares of Entegris (ENTG) are surging 11.17% to $16.92 on heavy trading volume late Wednesday afternoon after the company reported higher-than-expected results for the 2016 second quarter and provided upbeat guidance.
Before today's market open, the Billerica, MA-based company reported adjusted earnings of 28 cents per diluted share, beating analysts' forecasts of 20 cents per share.
Revenue of $303.1 million exceeded analysts' projections of $278.9 million.
For the third quarter, Entegris sees adjusted earnings per diluted share between 23 cents and 26 cents on revenue of $285 million to $300 million. Analysts are modeling earnings of 23 cents per share on revenue of $287.4 million.
Entegris is engaged in specialty chemicals and advanced materials solutions for the microelectronics industry and other high-tech industries.
About 2.85 million of the company's shares were traded so far today compared to its average 30-day volume of 446,604 shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.
The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, reasonable valuation levels, good cash flow from operations and solid stock price performance.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: ENTG