Analyst James Ricchiuti of Needham reiterated a Buy rating on MKS, reducing the price target to $130.00.
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James Ricchiuti has given his Buy rating due to a combination of factors including MKS’s impressive performance in the second quarter. The company exceeded expectations with a 10% year-over-year revenue increase, outperforming the market’s anticipated 5% growth. Additionally, MKS’s non-GAAP EPS was 9% higher than consensus estimates, and both gross and operating margins surpassed expectations.
The strong results were largely driven by significant growth in the Semiconductor and Electronics & Packaging sectors, which saw increases of 17% and 16% respectively. Looking ahead, MKS has provided guidance for the third quarter that suggests continued strength, with projected revenue and EPS growth surpassing market expectations. Ricchiuti also notes that MKS shares are currently attractive, reinforcing his Buy rating.
In another report released today, Benchmark Co. also maintained a Buy rating on the stock with a $135.00 price target.