MKS Instruments, Inc. (NASDAQ:MKSI) Shares Sold by Summit Global Investments

Summit Global Investments reduced its position in shares of MKS Instruments, Inc. (NASDAQ:MKSI) by 50.8% during the first quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of MKS Instruments by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 7,445,956 shares of the scientific and technical instruments company’s stock worth $777,283,000 after purchasing an additional 97,392 shares in the last quarter. Victory Capital Management Inc. raised its holdings in MKS Instruments by 1.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,088,283 shares of the scientific and technical instruments company’s stock valued at $322,386,000 after acquiring an additional 35,256 shares in the last quarter. Wellington Management Group LLP raised its holdings in MKS Instruments by 0.3% in the fourth quarter. Wellington Management Group LLP now owns 2,291,478 shares of the scientific and technical instruments company’s stock valued at $239,207,000 after acquiring an additional 6,715 shares in the last quarter. Invesco Ltd. raised its holdings in MKS Instruments by 0.3% in the fourth quarter. Invesco Ltd. now owns 2,231,467 shares of the scientific and technical instruments company’s stock valued at $232,943,000 after acquiring an additional 6,964 shares in the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in MKS Instruments in the fourth quarter valued at $97,494,000. 99.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $140.00 price target on shares of MKS Instruments in a report on Thursday, February 13th. Morgan Stanley upped their price target on shares of MKS Instruments from $93.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Benchmark cut their price target on shares of MKS Instruments from $142.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Needham & Company LLC cut their price target on shares of MKS Instruments from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, The Goldman Sachs Group upped their price target on shares of MKS Instruments from $128.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Two 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.92.

MKS Instruments Stock Down 4.7%

MKSI stock opened at $81.36 on Friday. The company has a debt-to-equity ratio of 1.93, a current ratio of 3.19 and a quick ratio of 2.04. MKS Instruments, Inc. has a 1-year low of $54.84 and a 1-year high of $147.40. The firm has a fifty day moving average price of $76.01 and a two-hundred day moving average price of $95.28. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 1.02 and a beta of 1.80.

MKS Instruments (NASDAQ:MKSI) last released its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.29. The firm had revenue of $936.00 million during 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 firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. Research analysts predict that MKS Instruments, Inc. will post 6.94 EPS for the current year.

MKS Instruments Announces Dividend

The company 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 dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This represents a $0.88 annualized dividend and a dividend yield of 1.08%. MKS Instruments’s dividend payout ratio is currently 26.27%.

Insider Transactions at MKS Instruments

In other news, Director Elizabeth Mora sold 275 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.46, for a total transaction of $25,426.50. Following the completion of the transaction, the director now owns 17,384 shares in the company, valued at approximately $1,607,324.64. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.

MKS Instruments Company Profile

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.