Convergence Investment Partners LLC Invests $1.19 Million in MKS Instruments, Inc. (MKSI)
Convergence Investment Partners LLC bought a new stake in MKS Instruments, Inc. (NASDAQ:MKSI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,603 shares of the scientific and technical instruments company’s stock, valued at approximately $1,191,000.
Several other institutional investors and hedge funds have also recently modified their holdings of MKSI. Allianz Asset Management GmbH grew its position in shares of MKS Instruments by 121.5% in the third quarter. Allianz Asset Management GmbH now owns 869,399 shares of the scientific and technical instruments company’s stock valued at $82,115,000 after purchasing an additional 476,810 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of MKS Instruments in the second quarter valued at $31,823,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of MKS Instruments in the third quarter valued at $41,700,000. Koch Industries Inc. purchased a new position in shares of MKS Instruments in the second quarter valued at $358,000. Finally, Lazard Asset Management LLC purchased a new position in shares of MKS Instruments in the second quarter valued at $17,771,000. Hedge funds and other institutional investors own 95.42% of the company’s stock.
In related news, Director Elizabeth Mora sold 300 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $94.10, for a total transaction of $28,230.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian Charles Quirk sold 2,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $107.90, for a total value of $215,800.00. Following the transaction, the vice president now owns 13,785 shares of the company’s stock, valued at $1,487,401.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,252 shares of company stock valued at $3,294,887. 1.65% of the stock is owned by company insiders.
MKS Instruments (NASDAQ:MKSI) last posted its earnings results on Tuesday, October 24th. The scientific and technical instruments company reported $1.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.10. MKS Instruments had a return on equity of 21.21% and a net margin of 16.97%. The business had revenue of $486.27 million during the quarter, compared to analysts’ expectations of $476.24 million. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s revenue was up 27.7% on a year-over-year basis. analysts anticipate that MKS Instruments, Inc. will post 5.89 EPS for the current year.
Several equities analysts have recently weighed in on MKSI shares. BidaskClub cut MKS Instruments from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Dougherty & Co lifted their price target on MKS Instruments from $106.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Stifel Nicolaus reiterated a “buy” rating on shares of MKS Instruments in a research report on Sunday, October 1st. Deutsche Bank lifted their price target on MKS Instruments from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, ValuEngine cut MKS Instruments from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $109.75.
About MKS Instruments
MKS Instruments, Inc is a global provider of instruments, subsystems and process control solutions that measures, controls, powers, delivers, monitors and analyzes critical parameters of advanced manufacturing processes. The Company operates through two segments, including the Vacuum & Analysis segment and the Light & Motion segment.
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