NFJ Investment Group LLC bought a new position in MKS Inc. (NASDAQ:MKSI – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 36,697 shares of the scientific and technical instruments company’s stock, valued at approximately $16,323,000.
Several other institutional investors and hedge funds have also recently modified their holdings of MKSI. Geode Capital Management LLC grew its position in MKS by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,254,049 shares of the scientific and technical instruments company’s stock valued at $200,438,000 after purchasing an additional 5,551 shares during the last quarter. Bank of America Corp DE increased its position in shares of MKS by 44.2% during the second quarter. Bank of America Corp DE now owns 982,643 shares of the scientific and technical instruments company’s stock valued at $97,635,000 after acquiring an additional 301,223 shares in the last quarter. Norges Bank purchased a new position in MKS in the 4th quarter worth approximately $147,453,000. Rafferty Asset Management LLC lifted its position in MKS by 63.4% in the 2nd quarter. Rafferty Asset Management LLC now owns 878,114 shares of the scientific and technical instruments company’s stock valued at $87,249,000 after acquiring an additional 340,645 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in MKS by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 870,654 shares of the scientific and technical instruments company’s stock valued at $139,131,000 after purchasing an additional 24,349 shares during the last quarter. 99.79% of the stock is currently owned by institutional investors.
MKS Stock Performance
MKSI opened at $281.88 on Friday. The company’s 50 day moving average is $343.48 and its 200 day moving average is $294.36. The company has a current ratio of 1.14, a quick ratio of 0.72 and a debt-to-equity ratio of 0.85. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 44.96, a PEG ratio of 0.60 and a beta of 1.98. MKS Inc. has a 12-month low of $97.50 and a 12-month high of $447.62.
MKS Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Tuesday, August 25th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, August 25th. MKS’s payout ratio is currently 15.95%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on MKSI. Bank of America increased their price objective on MKS from $380.00 to $500.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Citigroup raised their price target on shares of MKS from $425.00 to $430.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of MKS from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Needham & Company LLC increased their price objective on shares of MKS from $360.00 to $390.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $265.00 target price on shares of MKS in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $385.00.
Check Out Our Latest Report on MKSI
Insiders Place Their Bets
In other news, EVP John Edward Williams sold 457 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $288.31, for a total value of $131,757.67. Following the transaction, the executive vice president owned 4,098 shares of the company’s stock, valued at $1,181,494.38. This trade represents a 10.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michelle M. Mccarthy sold 2,434 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $315.23, for a total value of $767,269.82. Following the transaction, the chief accounting officer owned 2 shares of the company’s stock, valued at approximately $630.46. This trade represents a 99.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 37,491 shares of company stock valued at $12,102,072. 0.57% of the stock is currently owned by corporate insiders.
MKS Profile
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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