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


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