Zacks Downgrades MKS Instruments to Neutral (MKSI)
MKS Instruments (NASDAQ:MKSI) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Thursday, Analyst Ratings Network.com reports. They currently have a $32.00 price target on the stock. Zacks‘ target price would suggest a potential upside of 5.79% from the stock’s previous close.
Zacks‘ analyst wrote, “We are downgrading our recommendation on MKS Instruments to Neutral from Outperform based on the extensive competition the company has to face. With the semiconductor industry gaining wide acceptance, the market has become lucrative for new companies. In this competitive background, the company’s future depends on the patents renewal, failure of which might hamper revenues. However, the company’s tie-ups with large equipment vendors give it a stronger foothold in the industry. MKS Instruments also launches various products, in order to keep up with the ever-developing technological field. In the coming quarters, the company expects to benefit from the growing usage of sapphire in mobile phones, which may replace glass. MKS Instruments’ strong position in LED and FPD markets are also factors in its favor.”
A number of other analysts have also recently weighed in on MKSI. Analysts at Sidoti initiated coverage on shares of MKS Instruments in a research note to investors on Tuesday, November 26th. They set a “buy” rating on the stock. Analysts at Canaccord Genuity raised their price target on shares of MKS Instruments from $33.00 to $34.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. MKS Instruments currently has an average rating of “Buy” and an average target price of $31.25.
MKS Instruments (NASDAQ:MKSI) traded down 0.17% during mid-day trading on Thursday, hitting $30.20. 111,039 shares of the company’s stock traded hands. MKS Instruments has a 52-week low of $24.64 and a 52-week high of $31.00. The stock has a 50-day moving average of $29.45 and a 200-day moving average of $27.92. The company has a market cap of $1.607 billion and a price-to-earnings ratio of 81.76.
MKS Instruments (NASDAQ:MKSI) last announced its earnings results on Wednesday, October 23rd. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.04. The company had revenue of $166.45 million for the quarter, compared to the consensus estimate of $164.60 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. Analysts expect that MKS Instruments will post $0.82 EPS for the current fiscal year.
MKS Instruments, Inc (NASDAQ:MKSI) is a provider of instruments, subsystems and process control solutions that measure, control, power, monitor and analyze parameters of manufacturing processes.
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