DA Davidson Starts MKS Instruments (MKSI) at Buy; Leading Subsystem Supplier Continues to Outpace the Industry

DA Davidson initiates coverage on MKS Instruments (NASDAQ: MKSI) with a Buy. PT $35.00.

DA analyst says, "Leading supplier of components, subsystems and process control solutions to semiconductor OEMs and device manufacturers. The scaling of device structures and increasing chip complexity is driving demand for tighter process control and, in turn, increasing MKSI’s dollar content per tool."

"We believe MKSI is poised to benefit from another year of healthy capital spending and rising capital intensity levels at the leading edge nodes, ultimately translating into another year of share gains and strong cash generation. Despite the impressive through-the-cycle performance, the stock still trades at a nearly 30% discount to the broader group on an out-year EV/EBITDA basis (4.7x vs. 6.8x)."

For an analyst ratings summary and ratings history on MKS Instruments click here. For more ratings news on MKS Instruments click here.

Shares of MKS Instruments closed at $24.34 yesterday.

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