MKS Instruments Inc. (MKSI) Rating Lowered to Hold at Zacks Investment Research
MKS Instruments Inc. (NASDAQ:MKSI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “MKS Instruments is presently boosting its revenues and margins on the back of favorable business conditions in the semiconductor and other advanced markets. The strategic acquisition of Newport Corporation is also expected to bolster near-term revenues and margins. Also, the new operating model is expected to enhance near term profitability. However, stiff competition, appreciation of U.S. currency or supply chain issues might limit near term growth. Over the last 60 days, Zacks Consensus Estimate for the company has not changed been for both 2016 and 2017.”
A number of other brokerages have also recently commented on MKSI. Dougherty & Co cut MKS Instruments from a “buy” rating to a “neutral” rating in a research report on Thursday, July 28th. Pacific Crest reiterated a “buy” rating on shares of MKS Instruments in a research report on Friday, July 29th.
MKS Instruments (NASDAQ:MKSI) opened at 50.09 on Tuesday. The stock has a 50 day moving average of $48.13 and a 200-day moving average of $42.24. The company has a market capitalization of $2.68 billion, a P/E ratio of 32.76 and a beta of 1.17. MKS Instruments has a 52-week low of $29.00 and a 52-week high of $54.73.
MKS Instruments (NASDAQ:MKSI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.24. MKS Instruments had a return on equity of 9.33% and a net margin of 9.21%. The company had revenue of $325.90 million for the quarter, compared to analysts’ expectations of $288.62 million. During the same quarter last year, the business earned $0.62 earnings per share. MKS Instruments’s revenue was up 49.5% on a year-over-year basis. On average, equities analysts forecast that MKS Instruments will post $2.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 29th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Thursday, August 25th. MKS Instruments’s dividend payout ratio is presently 44.16%.
In other news, VP Seth H. Bagshaw sold 15,000 shares of MKS Instruments stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $47.43, for a total transaction of $711,450.00. Following the sale, the vice president now directly owns 29,302 shares of the company’s stock, valued at $1,389,793.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerard G. Colella sold 5,000 shares of MKS Instruments stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $47.11, for a total value of $235,550.00. Following the sale, the chief executive officer now directly owns 37,900 shares in the company, valued at $1,785,469. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in MKSI. Glenmede Trust Co. NA raised its stake in shares of MKS Instruments by 5.3% in the first quarter. Glenmede Trust Co. NA now owns 13,765 shares of the company’s stock worth $518,000 after buying an additional 696 shares during the last quarter. Aperio Group LLC raised its stake in shares of MKS Instruments by 55.8% in the first quarter. Aperio Group LLC now owns 9,442 shares of the company’s stock worth $355,000 after buying an additional 3,381 shares during the last quarter. Virginia Retirement System purchased a new stake in shares of MKS Instruments during the first quarter worth approximately $358,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of MKS Instruments by 84.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,882 shares of the company’s stock worth $1,276,000 after buying an additional 15,529 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of MKS Instruments by 30.1% in the first quarter. TIAA CREF Investment Management LLC now owns 270,313 shares of the company’s stock worth $10,177,000 after buying an additional 62,531 shares during the last quarter. 99.16% of the stock is currently owned by hedge funds and other institutional investors.
About MKS Instruments
MKS Instruments, Inc (MKS) is a provider of instruments, subsystems and process control solutions that measures, controls, powers, monitors and analyzes critical parameters of advanced manufacturing processes to improve process performance and productivity. The Company operates through segments, including Advanced Manufacturing Capital Equipment, which includes the development, manufacturing and sales of instruments, control and vacuum products, power and reactive gas products; Global Service, which includes the worldwide servicing of instruments, control and vacuum products, power and reactive gas products and certain other product groups; Asia Region Sales, which includes sales of products that are re-sold from the Advanced Manufacturing Capital Equipment and Other segments into Asia regions, and Other.
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