MKS Instruments, Inc
MKS Instruments, Inc. (NASDAQ: MKSI) is a global provider of instruments, systems, subsystems and process control solutions that measure, monitor, deliver, analyze, power and control critical parameters of advanced manufacturing processes to improve process performance and productivity for its customers.
Key highlights
Financial overview of Q2 2021 (in millions of USD)
Risks associated with investment
The Biden administration recently presented a tax proposal that included a number of corporate tax measures, one of which would boost the corporate income tax rate in the United States from 21% to 28%. The company's income tax expenditure would rise significantly if this tax proposal is approved in its current form.
Valuation Methodology (Illustrative): EV/Sales
Stock recommendation
Despite rising supply restrictions for key components, the firm achieved another quarter of record sales and profitability. Its Surround the Chamber® portfolio continues to enjoy strong demand and design win activity across a wide range of applications, while revenue from its Advanced Markets grew by more than 40% year-over-year in the quarter. Photon Control Inc. was recently purchased by the firm. We expect the purchase would further solidify the company's objective to improve the Surround the Chamber® offering. Meanwhile, business levels remain robust, and barring supply limitations, the firm anticipates revenue to rise sequentially in the third quarter, which is a significant positive. Therefore, based on the above rationale and valuation, we recommend a “Buy” rating on the stock at the closing price of USD 147.18 on August 31, 2021. We have considered Advanced Energy Industries Inc, Coherent Inc, IPG Photonics Corp etc., as the peer group for the comparison.
*Depending upon the risk tolerance, investors may consider unwinding their positions in a respective stock once the estimated target price is reached.
Technical Analysis Summary
One-Year Technical Price Chart (as on August 31, 2021). Source: REFINITIV, Analysis by Kalkine Group
Fastly, Inc.
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