Zacks Investment Research upgraded shares of MKS Instruments, Inc. (MKSI) from NEUTRAL to OUTPERFORM on October 30, 2013, with a target price of $36.00.
MKS Instruments posted impressive results for the third quarter of 2013. The company generated earnings per share of $0.25, increasing 56% year over year. Revenues for the third quarter increased 18% year over year to $166.5 million. Revenue hike was mainly a result of improvement in the semiconductor industry, which accounted for 69% of the net sales in the third quarter. The company's tie-ups with large equipment vendors give it a stronger foothold in the industry compared to its competitors. MKS Instruments also launches various products, in order to keep up with this ever developing technological field. In the coming quarters, the company expects to benefit from the growing usage of sapphire in mobile phones, which may replace glass usage. MKS Instruments' strong position in LEDs and FPDs markets are also factors in its favor. Based on these factors we upgrade our recommendation to Outperform from Neutral.
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