Needham & Company LLC Has Lowered Expectations for MKS (NASDAQ:MKSI) Stock Price

Key Points

• Needham & Company LLC has reduced its price target for MKS (NASDAQ:MKSI) from $140.00 to $130.00, while maintaining a "buy" rating, indicating a potential upside of 33.14% from the current price.
• MKS shares experienced an 8.9% increase in value during trading on Thursday, reaching a price of $97.64, with over 1 million shares traded.
• Recent earnings reports showed MKS outperforming expectations, with an earnings per share of $1.77 and a revenue of $973 million, reflecting a 9.7% year-on-year growth.

MKS (NASDAQ:MKSI - Get Free Report) had its price objective cut by equities research analysts at Needham & Company LLC from $140.00 to $130.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the scientific and technical instruments company's stock. Needham & Company LLC's price objective points to a potential upside of 33.14% from the company's current price.

MKSI has been the subject of several other reports. Wells Fargo & Company raised their target price on MKS from $85.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft raised MKS from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a report on Tuesday, May 20th. Mizuho lifted their target price on shares of MKS from $105.00 to $118.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Morgan Stanley raised their target price on shares of MKS from $100.00 to $112.00 and gave the company an "overweight" rating in a research note on Tuesday, July 22nd. Finally, Cantor Fitzgerald increased their price target on shares of MKS from $110.00 to $120.00 and gave the company an "overweight" rating in a research report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $119.00.

MKS Stock Up 8.9%

MKSI traded up $8.02 during trading hours on Thursday, reaching $97.64. 1,088,533 shares of the stock traded hands, compared to its average volume of 1,198,471. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 1.04 and a beta of 1.86. MKS has a fifty-two week low of $54.84 and a fifty-two week high of $125.33. The firm's fifty day simple moving average is $96.86 and its two-hundred day simple moving average is $90.97. The company has a debt-to-equity ratio of 1.87, a current ratio of 3.11 and a quick ratio of 1.96.

MKS (NASDAQ:MKSI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.16. The business had revenue of $973.00 million for the quarter, compared to the consensus estimate of $931.05 million. MKS had a net margin of 6.21% and a return on equity of 20.67%. MKS's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.53 earnings per share. As a group, analysts forecast that MKS will post 6.94 earnings per share for the current fiscal year.

Insider Buying and Selling at MKS

In other news, EVP David Philip Henry sold 2,000 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the sale, the executive vice president directly owned 20,571 shares of the company's stock, valued at approximately $2,159,955. This represents a 8.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jacqueline F. Moloney sold 300 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $92.10, for a total value of $27,630.00. Following the completion of the sale, the director directly owned 11,862 shares of the company's stock, valued at $1,092,490.20. This trade represents a 2.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company's stock.

Institutional Investors Weigh In On MKS

A number of large investors have recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new position in MKS in the second quarter worth approximately $39,000. Optimum Investment Advisors grew its holdings in MKS by 66.7% during the 1st quarter. Optimum Investment Advisors now owns 500 shares of the scientific and technical instruments company's stock valued at $40,000 after buying an additional 200 shares in the last quarter. Steph & Co. purchased a new stake in MKS during the second quarter valued at $42,000. Atlantic Union Bankshares Corp purchased a new stake in MKS during the second quarter valued at approximately $46,000. Finally, Parallel Advisors LLC boosted its stake in MKS by 89.3% during the first quarter. Parallel Advisors LLC now owns 581 shares of the scientific and technical instruments company's stock worth $47,000 after buying an additional 274 shares during the period. Institutional investors own 99.79% of the company's stock.

About MKS

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.

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