Artisan Mid Cap Fund adds Entegris on semiconductor recovery outlook
Artisan Partners cited long-term materials growth, improving fab construction demand and a potential recovery in memory capital expenditure and wafer starts.
Artisan Mid Cap Fund initiated a position in Entegris during the second quarter of 2026, according to Artisan Partners’ investor letter, pointing to growth opportunities in semiconductor materials and a possible recovery in memory-related spending.
The fund said Entegris could benefit from node transitions, materials innovation and advanced packaging. It also cited improving visibility into fab construction demand, potential gross-margin recovery and progress on deleveraging.
Artisan said it expected a recovery in memory capital expenditure and wafer starts to support higher volume-based revenue and margin expansion over time. The fund described the profit cycle as sufficiently early to remain compelling, though the timing and scale of any recovery were not disclosed.
Entegris supplies advanced materials, specialty chemicals and filtration systems used in semiconductor manufacturing. Its shares closed at US$138.74 on 4 September, giving the company a reported market capitalisation of US$21.2 billion.
The Artisan Mid Cap Fund’s returns ranged from 17.86% to 17.93% in the second quarter, compared with a 14.55% gain for the Russell Midcap Growth Index. The size of its Entegris position was not disclosed.
