Harber Asset Management LLC purchased a new stake in shares of MKS Inc. (NASDAQ:MKSI – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,100 shares of the scientific and technical instruments company’s stock, valued at approximately $4,048,000. MKS accounts for 2.4% of Harber Asset Management LLC’s holdings, making the stock its 20th biggest position.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MKSI. Landscape Capital Management L.L.C. acquired a new position in shares of MKS in the second quarter worth about $345,000. EP Wealth Advisors LLC purchased a new position in shares of MKS in the 2nd quarter valued at about $1,483,000. Rakuten Securities Inc. acquired a new position in MKS in the 2nd quarter worth about $40,000. Ieq Capital LLC acquired a new position in MKS in the 2nd quarter worth about $9,653,000. Finally, Callan Family Office LLC purchased a new position in MKS during the second quarter worth approximately $1,821,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.
MKS Trading Down 1.0%
Shares of MKSI stock opened at $279.11 on Friday. MKS Inc. has a fifty-two week low of $97.50 and a fifty-two week high of $447.62. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.72 and a current ratio of 1.14. The stock’s fifty day moving average is $341.95 and its two-hundred day moving average is $294.25. The firm has a market capitalization of $18.87 billion, a P/E ratio of 44.52, a PEG ratio of 0.60 and a beta of 1.98.
MKS Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $1.00 dividend on an annualized basis and a yield of 0.4%. MKS’s dividend payout ratio is presently 15.95%.
Analyst Upgrades and Downgrades
MKSI has been the subject of several research analyst reports. The Goldman Sachs Group reaffirmed a “sell” rating and set a $265.00 target price on shares of MKS in a research note on Thursday, May 7th. Needham & Company LLC boosted their price target on shares of MKS from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley upped their price objective on shares of MKS from $374.00 to $442.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. increased their price objective on shares of MKS from $365.00 to $380.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company lifted their target price on shares of MKS from $300.00 to $325.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, MKS currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.00.
Get Our Latest Research Report on MKS
Insider Buying and Selling
In other MKS news, Director Joseph B. Donahue sold 2,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $327.95, for a total value of $688,695.00. Following the transaction, the director directly owned 10,033 shares of the company’s stock, valued at $3,290,322.35. This trade represents a 17.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gerald G. Colella sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $333.40, for a total value of $6,668,000.00. Following the transaction, the director owned 20,017 shares in the company, valued at approximately $6,673,667.80. This represents a 49.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 37,491 shares of company stock worth $12,102,072 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.
About MKS
MKS Instruments, Inc (NASDAQ: MKSI) designs, manufactures and markets technology solutions that enable advanced processes in a variety of high‐technology and industrial markets. The company’s core offerings include vacuum and gas delivery systems, pressure and flow measurement instruments, optical metrology tools, photonics subsystems and critical components for manufacturing processes. These products support the precise control and monitoring needs of semiconductor, industrial manufacturing, life and health sciences, and research applications.
The company’s product portfolio features mass flow controllers, pressure transducers, vacuum gauges, gas purity monitors, laser-based metrology systems and photonic devices such as lasers and detectors.
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