MKS Instruments (MKSI – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Mark Miller from Benchmark Co. maintained a Buy rating on the stock and has a $135.00 price target.
Mark Miller’s rating is based on several positive developments at MKS Instruments, primarily driven by their semiconductor and electronics divisions. The company reported better-than-expected results, with notable growth in semiconductor and electronics sales, which contributed to an overall positive performance. Additionally, MKS Instruments made progress in reducing its debt, which is a positive indicator for its financial health.
Moreover, the company is benefiting from a cyclical upturn in the semiconductor market, spurred by higher DRAM sales and a recovery in NAND capital expenditures. These factors are projected to drive a significant 21% year-over-year growth in earnings by 2025. Despite a guided reduction in earnings for the upcoming quarter, these growth prospects and strong fundamentals support the Buy rating with a price target of $135.
According to TipRanks, Miller is a 5-star analyst with an average return of 15.3% and a 51.52% success rate. Miller covers the Technology sector, focusing on stocks such as Western Digital, Amtech Systems, and MKS Instruments.
In another report released today, Needham also reiterated a Buy rating on the stock with a $145.00 price target.
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