Benchmark Analyst Raises Price Target by 52.9% for Mks Instruments (NASDAQ: MKSI)

By Don Francis, Editor
February 10, 2024 9:48 AM UTC
Benchmark Analyst Raises Price Target by 52.9% for Mks Instruments (NASDAQ: MKSI)

Benchmark's Mark Miller raised their price target on Mks Instruments (NASDAQ: MKSI) by 52.9% from $85 to $130 on 2024/02/09. The analyst maintained their Strong Buy rating on the stock.

In a recent report summarizing Mks Instruments' Q4 and FY 2023 results, released on February 7, 2024, Miller highlighted that although the company beat expectations in Q4, management provided lower guidance for Q1 2024. However, Miller remains optimistic about Mks Instruments' future prospects, citing a cyclical upturn in the semiconductor market driven by higher DRAM sales and a recovery in NAND. Additionally, improvements in the global economy are expected to contribute to a projected $6.65 EPS for Mks Instruments in FY 2025.

This positive outlook is further supported by KeyBanc's Steve Barger, who also issued an update on MKSI on February 9, 2024. Barger raised the price target on the stock by 21.7%, from $115 to $140, while maintaining a Strong Buy rating. Barger's bullish stance aligns with the overall sentiment of top-rated analysts, as 100% of them currently rate MKSI as a Strong Buy or Buy. None of the analysts see it as a Hold, and no analysts recommend selling the stock.

Since the release of Mks Instruments' latest quarterly report on February 7, 2024, the stock price has experienced a 10.9% increase. Looking at the year-over-year performance, the stock is up 17.6%. However, it is worth noting that during this period, MKSI has trailed behind the S&P 500, which has seen a growth of 23.2%.

As for analyst Mark Miller, they hold an impressive ranking by WallStreetZen, placing in the top 5% out of 4,470 Wall Street analysts. With an average return of 25.9% and a win rate of 57.9%, Miller specializes in the Healthcare, Technology, and Industrials sectors.

Mks Instruments, Inc. is a global provider of instruments, systems, subsystems, and process control solutions. The company's offerings encompass a wide range of critical parameters used in manufacturing processes worldwide. Under its Vacuum & Analysis segment, Mks Instruments provides pressure and vacuum control solutions, materials delivery solutions, power solutions products, and plasma and reactive gas products. The Light & Motion segment focuses on laser products and photonics products, while the Equipment & Solutions segment offers laser-based systems for printed circuit board (PCB) manufacturing.

With its presence in the semiconductor, industrial technologies, life and health sciences, research, and defense markets, Mks Instruments serves diverse industries. The company sells its products and services through various channels, including direct sales, independent distributors, sales representatives, websites, and product catalogs. Established in 1961, Mks Instruments is headquartered in Andover, Massachusetts.

What is the average price target for Mks Instruments?

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