Zacks Investment Research downgraded shares of MKS Instruments, Inc. (MKSI) from OUTPERFORM to NEUTRAL on January 09, 2014, with a target price of $32.00.
We are downgrading our recommendation on MKS Instruments to Neutral from Outperform based on the extensive competition the company has to face. With the semiconductor industry gaining wide acceptance, the market has become lucrative for new companies. In this competitive background, the company's future depends on the patents renewal, failure of which might hamper revenues. However, the company's tie-ups with large equipment vendors give it a stronger foothold in the industry. MKS Instruments also launches various products, in order to keep up with the 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. MKS Instruments' strong position in LED and FPD markets are also factors in its favor.
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