MKS Instruments (NASDAQ:MKSI) Shares Gap Up After Better-Than-Expected Earnings

MKS Instruments, Inc. (NASDAQ:MKSI) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $123.38, but opened at $129.75. MKS Instruments shares last traded at $124.16, with a volume of 46,696 shares.

The scientific and technical instruments company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.43. The company had revenue of $868.00 million for the quarter, compared to analyst estimates of $848.94 million. MKS Instruments had a positive return on equity of 9.95% and a negative net margin of 50.80%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MKSI. Benchmark raised their price target on shares of MKS Instruments from $85.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 9th. Wells Fargo & Company raised their price objective on shares of MKS Instruments from $115.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. KeyCorp increased their price target on shares of MKS Instruments from $115.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, February 9th. TheStreet raised MKS Instruments from a “d+” rating to a “c-” rating in a research report on Tuesday, January 23rd. Finally, Needham & Company LLC raised their price objective on MKS Instruments from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.75.

Insider Transactions at MKS Instruments

In related news, CFO Seth H. Bagshaw sold 32,865 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $123.28, for a total transaction of $4,051,597.20. Following the transaction, the chief financial officer now owns 1 shares in the company, valued at approximately $123.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Seth H. Bagshaw sold 32,865 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $123.28, for a total transaction of $4,051,597.20. Following the transaction, the chief financial officer now owns 1 shares of the company’s stock, valued at $123.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacqueline F. Moloney sold 250 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $122.89, for a total value of $30,722.50. Following the sale, the director now directly owns 9,161 shares of the company’s stock, valued at $1,125,795.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,776 shares of company stock valued at $6,226,307. Corporate insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its stake in shares of MKS Instruments by 22.7% during the 1st quarter. ProShare Advisors LLC now owns 10,694 shares of the scientific and technical instruments company’s stock worth $1,422,000 after buying an additional 1,980 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in MKS Instruments during the first quarter worth $918,000. Texas Permanent School Fund Corp lifted its stake in MKS Instruments by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 55,019 shares of the scientific and technical instruments company’s stock valued at $7,318,000 after acquiring an additional 782 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in shares of MKS Instruments by 2.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,653 shares of the scientific and technical instruments company’s stock valued at $3,013,000 after acquiring an additional 497 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of MKS Instruments by 143.1% in the 1st quarter. Nordea Investment Management AB now owns 2,141,676 shares of the scientific and technical instruments company’s stock valued at $282,102,000 after acquiring an additional 1,260,792 shares during the period. 99.79% of the stock is owned by institutional investors and hedge funds.

MKS Instruments Stock Up 2.7 %

The company has a current ratio of 3.18, a quick ratio of 2.01 and a debt-to-equity ratio of 1.90. The firm’s 50 day moving average price is $123.74 and its two-hundred day moving average price is $105.06. The company has a market capitalization of $8.49 billion, a price-to-earnings ratio of -4.48, a price-to-earnings-growth ratio of 4.01 and a beta of 1.69.

About MKS Instruments

MKS Instruments, Inc provides foundational technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications in the United States, Germany, China, South Korea, and internationally. It operates through Vacuum Solutions Division (VSD), Photonics Solutions Division (PSD), and Material Solutions Division (MSD) segments.