Summit Global Investments Lowers Holdings in MKS Instruments, Inc. (NASDAQ:MKSI)

Summit Global Investments reduced its holdings in shares of MKS Instruments, Inc. (NASDAQ:MKSI - Free Report) by 50.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,914 shares of the scientific and technical instruments company's stock after selling 6,097 shares during the quarter. Summit Global Investments' holdings in MKS Instruments were worth $474,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MKSI. Madison Investment Advisors LLC acquired a new position in shares of MKS Instruments in the fourth quarter valued at approximately $97,494,000. Norges Bank acquired a new position in MKS Instruments in the 4th quarter valued at approximately $85,451,000. Shapiro Capital Management LLC acquired a new position in shares of MKS Instruments during the fourth quarter worth $48,228,000. Raymond James Financial Inc. bought a new stake in shares of MKS Instruments in the fourth quarter worth $28,312,000. Finally, D. E. Shaw & Co. Inc. raised its position in MKS Instruments by 158.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 367,437 shares of the scientific and technical instruments company's stock worth $38,357,000 after purchasing an additional 225,285 shares during the last quarter. Institutional investors own 99.79% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on MKSI. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $140.00 target price on shares of MKS Instruments in a research note on Thursday, February 13th. Needham & Company LLC dropped their target price on shares of MKS Instruments from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Morgan Stanley boosted their target price on MKS Instruments from $93.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of MKS Instruments from a "hold" rating to a "buy" rating and set a $110.00 price objective on the stock in a report on Tuesday, May 20th. Finally, Benchmark decreased their price target on MKS Instruments from $142.00 to $135.00 and set a "buy" rating for the company in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $134.92.

MKS Instruments Stock Performance

Shares of MKSI stock traded down $0.72 during trading hours on Thursday, hitting $87.16. 721,153 shares of the company were exchanged, compared to its average volume of 1,052,042. The company has a current ratio of 3.19, a quick ratio of 2.04 and a debt-to-equity ratio of 1.93. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 1.02 and a beta of 1.80. The firm has a fifty day simple moving average of $76.20 and a 200 day simple moving average of $94.75. MKS Instruments, Inc. has a 52-week low of $54.84 and a 52-week high of $147.40.

MKS Instruments (NASDAQ:MKSI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.29. The company had revenue of $936.00 million for the quarter, compared to analyst estimates of $913.59 million. MKS Instruments had a net margin of 5.30% and a return on equity of 18.94%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Research analysts predict that MKS Instruments, Inc. will post 6.94 earnings per share for the current fiscal year.

MKS Instruments Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 27th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Tuesday, May 27th. MKS Instruments's dividend payout ratio (DPR) is presently 26.27%.

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.