MKS Instruments Analyst Cuts Estimates And Price Target To Reflect Ransomware Impact

  • Benchmark analyst Mark Miller maintains MKS Instruments Inc MKSI with a Buy and lowers the price target from $125 to $115.
  • Miller adjusted his estimates to reflect the impact of the ransomware incident on sales and the subsequent lower factory loading on margins. 
  • For 1Q23, the analyst projects a non-GAAP loss of $(0.14) per share on sales of $795 million. 
  • Miller's 2023 estimate now calls for non-GAAP EPS of $4.06 on sales of $3.83 billion. 
  • Several factors will likely produce a rebound in 2024, including a cyclical recovery in semi-capex, the ramp of new fabs, and spending by the U.S., Europe, and Japan supporting internal chip production. 
  • For 2024, the analyst projects non-GAAP EPS of $6.97 on sales of $4.29 billion. 
  • Based on the revised 2024 estimates, he is lowering his target price from $125 to $115.
  • Price Action: MKSI shares traded lower by 3.75% at $85.67 on the last check Wednesday.
  • Photo Via Company
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsPrice TargetReiterationAnalyst RatingsTechBriefsExpert Ideas
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!