Summit Global Investments Takes Position in MKS Instruments, Inc. (NASDAQ:MKSI)

Summit Global Investments acquired a new position in MKS Instruments, Inc. (NASDAQ:MKSI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,011 shares of the scientific and technical instruments company's stock, valued at approximately $1,254,000.

Several other institutional investors have also recently made changes to their positions in the business. Avantax Advisory Services Inc. lifted its holdings in shares of MKS Instruments by 4.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,143 shares of the scientific and technical instruments company's stock valued at $224,000 after acquiring an additional 97 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in MKS Instruments by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the scientific and technical instruments company's stock worth $1,952,000 after buying an additional 100 shares during the last quarter. CIBC Asset Management Inc boosted its stake in MKS Instruments by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,068 shares of the scientific and technical instruments company's stock worth $216,000 after buying an additional 103 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of MKS Instruments by 68.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 263 shares of the scientific and technical instruments company's stock valued at $27,000 after acquiring an additional 107 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of MKS Instruments by 1.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,729 shares of the scientific and technical instruments company's stock worth $949,000 after acquiring an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 99.79% of the company's stock.

Remove Ads

MKS Instruments Stock Performance

MKSI stock traded down $1.16 during trading on Tuesday, hitting $90.30. 264,386 shares of the company traded hands, compared to its average volume of 889,474. 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 $76.37 and a 1 year high of $147.40. The stock's 50-day simple moving average is $101.72 and its 200 day simple moving average is $106.04. The company has a market cap of $6.08 billion, a PE ratio of 32.25, a P/E/G ratio of 1.02 and a beta of 1.75.

MKS Instruments (NASDAQ:MKSI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.92 by $0.23. MKS Instruments had a net margin of 5.30% and a return on equity of 18.94%. On average, equities analysts expect that MKS Instruments, Inc. will post 6.94 earnings per share for the current fiscal year.

MKS Instruments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Monday, February 24th were given a dividend of $0.22 per share. The ex-dividend date was Monday, February 24th. This represents a $0.88 dividend on an annualized basis and a yield of 0.97%. MKS Instruments's dividend payout ratio is currently 31.43%.

Insider Buying and Selling at MKS Instruments

In related news, Director Gerard G. Colella sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.53, for a total transaction of $836,240.00. Following the completion of the sale, the director now directly owns 60,017 shares in the company, valued at approximately $6,273,577.01. The trade was a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elizabeth Mora sold 275 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.46, for a total value of $25,426.50. Following the completion of the transaction, the director now owns 17,384 shares in the company, valued at $1,607,324.64. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MKSI. Benchmark reduced their price target on MKS Instruments from $142.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, February 14th. The Goldman Sachs Group boosted their target price on shares of MKS Instruments from $128.00 to $129.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $140.00 price target on shares of MKS Instruments in a research note on Thursday, February 13th. JPMorgan Chase & Co. initiated coverage on shares of MKS Instruments in a research report on Friday, December 13th. They issued an "overweight" rating and a $145.00 price objective for the company. Finally, Morgan Stanley reduced their target price on shares of MKS Instruments from $150.00 to $147.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $140.08.

MKS Instruments 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.