Truist Financial Corp Decreases Stock Holdings in MKS Instruments, Inc. (NASDAQ:MKSI)

Truist Financial Corp reduced its position in shares of MKS Instruments, Inc. (NASDAQ:MKSI) by 37.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,283 shares of the scientific and technical instruments company’s stock after selling 1,982 shares during the period. Truist Financial Corp’s holdings in MKS Instruments were worth $429,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of MKS Instruments during the 1st quarter worth $25,000. Atlas Capital Advisors LLC purchased a new stake in shares of MKS Instruments during the 1st quarter worth $25,000. Rise Advisors LLC purchased a new stake in shares of MKS Instruments during the 1st quarter worth $26,000. Key Financial Inc purchased a new stake in shares of MKS Instruments during the 2nd quarter worth $39,000. Finally, BOKF NA purchased a new stake in shares of MKS Instruments during the 2nd quarter worth $39,000. 99.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Mizuho upgraded shares of MKS Instruments to a “strong-buy” rating in a research note on Monday, October 7th. The Goldman Sachs Group assumed coverage on shares of MKS Instruments in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $129.00 price target on the stock. Needham & Company LLC lifted their price target on shares of MKS Instruments from $153.00 to $156.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company cut their price target on shares of MKS Instruments from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Finally, KeyCorp lifted their price target on shares of MKS Instruments from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $141.09.

Insider Activity

In other news, Director Jacqueline F. Moloney sold 250 shares of MKS Instruments stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $123.46, for a total value of $30,865.00. Following the sale, the director now owns 10,533 shares of the company’s stock, valued at $1,300,404.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jacqueline F. Moloney sold 250 shares of MKS Instruments stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $123.46, for a total value of $30,865.00. Following the sale, the director now owns 10,533 shares of the company’s stock, valued at $1,300,404.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth Mora sold 275 shares of MKS Instruments stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $115.97, for a total transaction of $31,891.75. Following the completion of the sale, the director now directly owns 17,934 shares in the company, valued at approximately $2,079,805.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,575 shares of company stock valued at $303,660 over the last quarter. Corporate insiders own 0.46% of the company’s stock.

MKS Instruments Trading Down 0.5 %

NASDAQ MKSI opened at $103.48 on Thursday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.31 and a current ratio of 3.58. The firm has a market cap of $6.94 billion, a PE ratio of -3.88, a P/E/G ratio of 0.76 and a beta of 1.63. MKS Instruments, Inc. has a one year low of $63.44 and a one year high of $147.40. The firm’s fifty day moving average is $111.27 and its two-hundred day moving average is $121.37.

MKS Instruments (NASDAQ:MKSI) last posted its quarterly earnings data on Wednesday, August 7th. The scientific and technical instruments company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.51. The company had revenue of $887.00 million for the quarter, compared to analyst estimates of $866.38 million. MKS Instruments had a net margin of 0.25% and a return on equity of 14.91%. MKS Instruments’s quarterly revenue was down 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 earnings per share. Analysts expect that MKS Instruments, Inc. will post 5.6 earnings per share for the current year.

MKS Instruments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 26th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Monday, August 26th. MKS Instruments’s payout ratio is -3.30%.

MKS Instruments Profile

MKS Instruments, Inc provides foundational technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications in the United States, Germany, China, South Korea, and internationally. It operates through Vacuum Solutions Division (VSD), Photonics Solutions Division (PSD), and Material Solutions Division (MSD) segments.