MKS Instruments (NASDAQ:MKSI) Shares Gap Up Following Strong Earnings

Shares of MKS Instruments, Inc. (NASDAQ:MKSI) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $103.29, but opened at $117.75. MKS Instruments shares last traded at $115.28, with a volume of 211,454 shares.

The scientific and technical instruments company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.30. The firm had revenue of $896.00 million for the quarter, compared to the consensus estimate of $874.29 million. MKS Instruments had a return on equity of 14.91% and a net margin of 0.25%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share.

MKS Instruments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be issued a $0.22 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.88 annualized dividend and a dividend yield of 0.77%. MKS Instruments’s dividend payout ratio is currently 800.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MKSI. Needham & Company LLC increased their price target on MKS Instruments from $153.00 to $156.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Bank of America initiated coverage on MKS Instruments in a research report on Wednesday, July 10th. They issued a “buy” rating and a $160.00 price target on the stock. KeyCorp boosted their price target on MKS Instruments from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. The Goldman Sachs Group began coverage on shares of MKS Instruments in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $129.00 price objective on the stock. Finally, Cantor Fitzgerald assumed coverage on shares of MKS Instruments in a report on Tuesday, September 10th. They set an “overweight” rating and a $140.00 price target for the company. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.09.

Insider Activity at MKS Instruments

In other news, EVP John Edward Williams sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $118.71, for a total value of $213,678.00. Following the transaction, the executive vice president now owns 13 shares in the company, valued at approximately $1,543.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP John Edward Williams sold 1,800 shares of MKS Instruments stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $118.71, for a total value of $213,678.00. Following the completion of the transaction, the executive vice president now directly owns 13 shares of the company’s stock, valued at approximately $1,543.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jacqueline F. Moloney sold 250 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $108.90, for a total value of $27,225.00. Following the sale, the director now owns 10,283 shares in the company, valued at approximately $1,119,818.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,325 shares of company stock worth $272,795 over the last ninety days. Insiders own 0.51% of the company’s stock.

Institutional Trading of MKS Instruments

Several hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its stake in MKS Instruments by 1.9% during the third quarter. Thrivent Financial for Lutherans now owns 249,665 shares of the scientific and technical instruments company’s stock worth $27,141,000 after acquiring an additional 4,646 shares in the last quarter. Mutual of America Capital Management LLC increased its position in MKS Instruments by 4.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 54,088 shares of the scientific and technical instruments company’s stock valued at $5,880,000 after buying an additional 2,313 shares in the last quarter. Mizuho Markets Americas LLC increased its position in MKS Instruments by 57.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 278,887 shares of the scientific and technical instruments company’s stock valued at $30,318,000 after buying an additional 101,439 shares in the last quarter. Empowered Funds LLC raised its stake in MKS Instruments by 14.9% during the 3rd quarter. Empowered Funds LLC now owns 2,326 shares of the scientific and technical instruments company’s stock worth $253,000 after buying an additional 302 shares during the period. Finally, MQS Management LLC bought a new position in MKS Instruments in the third quarter worth approximately $379,000. Institutional investors own 99.79% of the company’s stock.

MKS Instruments Stock Up 10.6 %

The company has a quick ratio of 2.31, a current ratio of 3.58 and a debt-to-equity ratio of 2.16. The stock has a 50 day simple moving average of $106.72 and a 200 day simple moving average of $118.99. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 1,051.09, a PEG ratio of 0.70 and a beta of 1.63.

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.