UPDATE: D.A. Davidson Reiterates MKS Instruments Buy, $40 PT

D.A. Davidson reiterated its MKS Instruments

Buy rating and $40 price target in a research report published today. In the report, D.A. Davidson stated, "MKS' leverage to both rising capital intensity (more tools required to produce a chip) and increasing use of process control (more MKS components and subsystems per tool) should drive the growth in the company's semiconductor business while the adjacent markets' business should remain somewhat steady (Medical strength offsets flat panel and LED weakness and lumpy solar business)." Shares of MKS Instruments were trading at $27.03 at the time of posting, down 0.33% from Monday's market close.