TD Cowen analyst Krish Sankar maintained a Buy rating on MKS Instruments (MKSI – Research Report) today and set a price target of $95.00.
Krish Sankar of TD Cowen firm has given his Buy rating to MKS Instruments based on several factors. Firstly, MKS Instruments’ September quarter results met revenue expectations and exceeded earnings per share estimates, despite the guidance for the December quarter falling short of consensus. While the semiconductor sector is currently undergoing a correction phase, affecting the company’s sequential revenue, Sankar believes that the company is well-positioned to benefit from the recovery of Wafer Fab Equipment and smartphones in CY24. Furthermore, the company’s valuation is considered attractive, adding to the reasons for the buy rating.
The financial analyst also highlights the stability of MKS Instruments’ Specialty Industrial segment, which is expected to remain relatively stable in the December quarter. In addition, the company’s term loan A debt level continues to decrease, marking a significant improvement from a year ago. While acknowledging that the company is not immune from the dynamics of the semiconductor and smartphone cycles, Sankar believes that the stock is very attractive at its current valuations. The key, however, lies in the company’s ability to execute its strategies effectively.
In another report released today, Benchmark Co. also maintained a Buy rating on the stock with a $115.00 price target.
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MKS Instruments (MKSI) Company Description:
MKS Instruments, Inc. engages in the provision of instruments, subsystems, and process control solutions to measure, control, power, monitor, and analyze parameters of manufacturing processes. It operates through the Vacuum and Analysis; and Light and Motion segments. The Vacuum and Analysis segment comprises pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, residual gas analysis, leak detection, control technology, ozone generation and delivery, RF & DC power, reactive gas generation, and vacuum technology components. The Light and Motion segment includes lasers, photonics, sub-micron positioning, vibration control, and optics instruments. The company was founded in 1961 and is headquartered in Andover, MA.
Read More on MKSI:
- MKS Instruments Reports Third Quarter 2023 Financial Results
- Is MKSI a Buy, Before Earnings?
- MKS Instruments Announces Third Quarter 2023 Earnings Conference Call
- MKS Instruments Releases Third Annual Environmental, Social, Governance Report
- MKS Instruments Completes Repricing of Secured Term Loan B
