Intrinsic value of MKS Instruments - MKSI

Previous Close

$68.08

  Intrinsic Value

$256.69

stock screener

  Rating & Target

str. buy

+277%

Previous close

$68.08

 
Intrinsic value

$256.69

 
Up/down potential

+277%

 
Rating

str. buy

We calculate the intrinsic value of MKSI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  19.20
  17.78
  16.50
  15.35
  14.32
  13.38
  12.55
  11.79
  11.11
  10.50
  9.95
  9.46
  9.01
  8.61
  8.25
  7.92
  7.63
  7.37
  7.13
  6.92
  6.73
  6.55
  6.40
  6.26
  6.13
  6.02
  5.92
  5.83
  5.74
  5.67
Revenue, $m
  2,284
  2,690
  3,134
  3,615
  4,132
  4,686
  5,273
  5,895
  6,550
  7,238
  7,959
  8,711
  9,496
  10,314
  11,164
  12,049
  12,968
  13,924
  14,917
  15,949
  17,022
  18,137
  19,298
  20,505
  21,763
  23,073
  24,438
  25,862
  27,347
  28,898
Variable operating expenses, $m
  1,347
  1,570
  1,813
  2,077
  2,360
  2,664
  2,986
  3,327
  3,686
  4,063
  4,362
  4,774
  5,204
  5,652
  6,118
  6,603
  7,107
  7,631
  8,175
  8,740
  9,328
  9,940
  10,576
  11,238
  11,927
  12,645
  13,393
  14,173
  14,987
  15,837
Fixed operating expenses, $m
  379
  388
  396
  405
  414
  423
  432
  442
  451
  461
  471
  482
  492
  503
  514
  526
  537
  549
  561
  573
  586
  599
  612
  625
  639
  653
  668
  682
  697
  713
Total operating expenses, $m
  1,726
  1,958
  2,209
  2,482
  2,774
  3,087
  3,418
  3,769
  4,137
  4,524
  4,833
  5,256
  5,696
  6,155
  6,632
  7,129
  7,644
  8,180
  8,736
  9,313
  9,914
  10,539
  11,188
  11,863
  12,566
  13,298
  14,061
  14,855
  15,684
  16,550
Operating income, $m
  557
  733
  925
  1,133
  1,358
  1,599
  1,856
  2,127
  2,414
  2,715
  3,126
  3,455
  3,800
  4,158
  4,532
  4,920
  5,324
  5,744
  6,181
  6,635
  7,107
  7,599
  8,110
  8,642
  9,197
  9,775
  10,378
  11,007
  11,663
  12,348
EBITDA, $m
  710
  895
  1,098
  1,319
  1,557
  1,811
  2,082
  2,369
  2,672
  2,990
  3,323
  3,672
  4,035
  4,414
  4,809
  5,219
  5,646
  6,090
  6,551
  7,031
  7,530
  8,049
  8,589
  9,151
  9,737
  10,348
  10,984
  11,648
  12,342
  13,065
Interest expense (income), $m
  21
  24
  34
  45
  57
  70
  83
  98
  114
  130
  148
  166
  185
  205
  226
  248
  270
  294
  318
  344
  370
  398
  426
  456
  487
  519
  552
  587
  623
  661
  701
Earnings before tax, $m
  533
  698
  880
  1,077
  1,289
  1,516
  1,758
  2,014
  2,283
  2,567
  2,960
  3,270
  3,595
  3,932
  4,284
  4,650
  5,030
  5,426
  5,837
  6,265
  6,710
  7,173
  7,654
  8,156
  8,678
  9,223
  9,791
  10,383
  11,002
  11,647
Tax expense, $m
  144
  189
  238
  291
  348
  409
  475
  544
  617
  693
  799
  883
  971
  1,062
  1,157
  1,255
  1,358
  1,465
  1,576
  1,692
  1,812
  1,937
  2,067
  2,202
  2,343
  2,490
  2,643
  2,803
  2,970
  3,145
Net income, $m
  389
  510
  642
  786
  941
  1,107
  1,283
  1,470
  1,667
  1,874
  2,161
  2,387
  2,624
  2,871
  3,127
  3,394
  3,672
  3,961
  4,261
  4,573
  4,898
  5,236
  5,588
  5,954
  6,335
  6,733
  7,147
  7,580
  8,031
  8,503

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,572
  3,029
  3,529
  4,071
  4,654
  5,277
  5,939
  6,639
  7,377
  8,151
  8,962
  9,810
  10,694
  11,614
  12,572
  13,569
  14,604
  15,680
  16,798
  17,960
  19,169
  20,425
  21,732
  23,092
  24,508
  25,983
  27,521
  29,124
  30,797
  32,542
Adjusted assets (=assets-cash), $m
  2,572
  3,029
  3,529
  4,071
  4,654
  5,277
  5,939
  6,639
  7,377
  8,151
  8,962
  9,810
  10,694
  11,614
  12,572
  13,569
  14,604
  15,680
  16,798
  17,960
  19,169
  20,425
  21,732
  23,092
  24,508
  25,983
  27,521
  29,124
  30,797
  32,542
Revenue / Adjusted assets
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
  0.888
Average production assets, $m
  788
  928
  1,081
  1,247
  1,426
  1,617
  1,819
  2,034
  2,260
  2,497
  2,746
  3,005
  3,276
  3,558
  3,852
  4,157
  4,474
  4,804
  5,146
  5,502
  5,872
  6,257
  6,658
  7,074
  7,508
  7,960
  8,431
  8,922
  9,435
  9,970
Working capital, $m
  484
  570
  664
  766
  876
  993
  1,118
  1,250
  1,389
  1,535
  1,687
  1,847
  2,013
  2,186
  2,367
  2,554
  2,749
  2,952
  3,162
  3,381
  3,609
  3,845
  4,091
  4,347
  4,614
  4,891
  5,181
  5,483
  5,798
  6,126
Total debt, $m
  551
  725
  915
  1,122
  1,344
  1,581
  1,833
  2,100
  2,381
  2,676
  2,985
  3,308
  3,645
  3,996
  4,361
  4,740
  5,135
  5,545
  5,971
  6,414
  6,874
  7,353
  7,851
  8,369
  8,908
  9,470
  10,056
  10,667
  11,304
  11,969
Total liabilities, $m
  980
  1,154
  1,345
  1,551
  1,773
  2,010
  2,263
  2,529
  2,810
  3,106
  3,415
  3,738
  4,074
  4,425
  4,790
  5,170
  5,564
  5,974
  6,400
  6,843
  7,303
  7,782
  8,280
  8,798
  9,338
  9,900
  10,485
  11,096
  11,734
  12,399
Total equity, $m
  1,592
  1,875
  2,184
  2,520
  2,881
  3,266
  3,676
  4,109
  4,566
  5,046
  5,548
  6,072
  6,619
  7,189
  7,782
  8,399
  9,040
  9,706
  10,398
  11,118
  11,865
  12,643
  13,452
  14,294
  15,170
  16,084
  17,035
  18,028
  19,063
  20,144
Total liabilities and equity, $m
  2,572
  3,029
  3,529
  4,071
  4,654
  5,276
  5,939
  6,638
  7,376
  8,152
  8,963
  9,810
  10,693
  11,614
  12,572
  13,569
  14,604
  15,680
  16,798
  17,961
  19,168
  20,425
  21,732
  23,092
  24,508
  25,984
  27,520
  29,124
  30,797
  32,543
Debt-to-equity ratio
  0.350
  0.390
  0.420
  0.450
  0.470
  0.480
  0.500
  0.510
  0.520
  0.530
  0.540
  0.540
  0.550
  0.560
  0.560
  0.560
  0.570
  0.570
  0.570
  0.580
  0.580
  0.580
  0.580
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
  0.590
Adjusted equity ratio
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619
  0.619

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  389
  510
  642
  786
  941
  1,107
  1,283
  1,470
  1,667
  1,874
  2,161
  2,387
  2,624
  2,871
  3,127
  3,394
  3,672
  3,961
  4,261
  4,573
  4,898
  5,236
  5,588
  5,954
  6,335
  6,733
  7,147
  7,580
  8,031
  8,503
Depreciation, amort., depletion, $m
  152
  163
  174
  185
  198
  212
  227
  242
  258
  275
  198
  216
  236
  256
  277
  299
  322
  346
  370
  396
  422
  450
  479
  509
  540
  573
  607
  642
  679
  717
Funds from operations, $m
  541
  672
  816
  971
  1,139
  1,319
  1,510
  1,712
  1,925
  2,149
  2,358
  2,604
  2,860
  3,127
  3,404
  3,693
  3,994
  4,307
  4,631
  4,969
  5,321
  5,686
  6,067
  6,463
  6,875
  7,305
  7,754
  8,222
  8,710
  9,220
Change in working capital, $m
  78
  86
  94
  102
  110
  117
  125
  132
  139
  146
  153
  160
  166
  173
  180
  188
  195
  203
  211
  219
  227
  236
  246
  256
  267
  278
  289
  302
  315
  329
Cash from operations, $m
  464
  586
  722
  869
  1,029
  1,201
  1,385
  1,580
  1,786
  2,003
  2,205
  2,444
  2,693
  2,953
  3,224
  3,506
  3,799
  4,104
  4,421
  4,750
  5,093
  5,450
  5,820
  6,207
  6,609
  7,028
  7,464
  7,920
  8,395
  8,891
Maintenance CAPEX, $m
  -48
  -57
  -67
  -78
  -90
  -103
  -116
  -131
  -146
  -163
  -180
  -198
  -216
  -236
  -256
  -277
  -299
  -322
  -346
  -370
  -396
  -422
  -450
  -479
  -509
  -540
  -573
  -607
  -642
  -679
New CAPEX, $m
  -126
  -140
  -153
  -166
  -179
  -191
  -203
  -215
  -226
  -237
  -249
  -260
  -271
  -282
  -293
  -305
  -317
  -330
  -343
  -356
  -370
  -385
  -400
  -417
  -434
  -452
  -471
  -491
  -512
  -535
Cash from investing activities, $m
  -174
  -197
  -220
  -244
  -269
  -294
  -319
  -346
  -372
  -400
  -429
  -458
  -487
  -518
  -549
  -582
  -616
  -652
  -689
  -726
  -766
  -807
  -850
  -896
  -943
  -992
  -1,044
  -1,098
  -1,154
  -1,214
Free cash flow, $m
  290
  389
  502
  626
  761
  908
  1,066
  1,235
  1,414
  1,604
  1,777
  1,987
  2,206
  2,436
  2,675
  2,924
  3,183
  3,452
  3,733
  4,024
  4,327
  4,642
  4,970
  5,311
  5,666
  6,035
  6,421
  6,822
  7,241
  7,678
Issuance/(repayment) of debt, $m
  158
  174
  190
  206
  222
  237
  252
  267
  281
  295
  309
  323
  337
  351
  365
  380
  395
  410
  426
  443
  460
  479
  498
  518
  540
  562
  586
  611
  637
  665
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  158
  174
  190
  206
  222
  237
  252
  267
  281
  295
  309
  323
  337
  351
  365
  380
  395
  410
  426
  443
  460
  479
  498
  518
  540
  562
  586
  611
  637
  665
Total cash flow (excl. dividends), $m
  448
  564
  692
  832
  983
  1,145
  1,318
  1,501
  1,695
  1,899
  2,086
  2,310
  2,543
  2,786
  3,040
  3,303
  3,577
  3,862
  4,159
  4,467
  4,787
  5,121
  5,468
  5,829
  6,205
  6,598
  7,006
  7,433
  7,878
  8,343
Retained Cash Flow (-), $m
  -257
  -283
  -309
  -335
  -361
  -386
  -410
  -433
  -457
  -480
  -502
  -525
  -547
  -570
  -593
  -617
  -641
  -666
  -692
  -719
  -748
  -778
  -809
  -842
  -877
  -913
  -952
  -992
  -1,035
  -1,081
Prev. year cash balance distribution, $m
  253
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  444
  281
  383
  497
  622
  760
  908
  1,068
  1,238
  1,419
  1,584
  1,785
  1,996
  2,216
  2,447
  2,687
  2,936
  3,196
  3,467
  3,748
  4,040
  4,343
  4,659
  4,987
  5,329
  5,684
  6,055
  6,440
  6,843
  7,262
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  426
  257
  333
  409
  482
  551
  614
  668
  711
  744
  752
  762
  759
  744
  718
  683
  639
  589
  534
  476
  418
  360
  305
  254
  207
  166
  130
  100
  75
  55
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

MKS Instruments, Inc. is a global provider of instruments, subsystems and process control solutions that measures, controls, powers, delivers, monitors and analyzes critical parameters of advanced manufacturing processes. The Company operates through two segments, including the Vacuum & Analysis segment and the Light & Motion segment. The Vacuum & Analysis segment provides a range of instruments, components, subsystems and software, which are derived from its core competencies in pressure measurement and control, flow measurement and control, gas and vapor delivery, gas composition analysis, residual gas analysis, leak detection, control and information technology, ozone generation and delivery, radio frequency (RF) and direct current (DC) power, reactive gas generation and vacuum technology. The Light & Motion segment provides a range of instruments, components and subsystems, which are derived from its core competencies in lasers, photonics and optics.

FINANCIAL RATIOS  of  MKS Instruments (MKSI)

Valuation Ratios
P/E Ratio 34.8
Price to Sales 2.8
Price to Book 2.9
Price to Tangible Book
Price to Cash Flow 20.3
Price to Free Cash Flow 22.7
Growth Rates
Sales Growth Rate 59.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 58.3%
Cap. Spend. - 3 Yr. Gr. Rate 9.6%
Financial Strength
Quick Ratio 38
Current Ratio 0.2
LT Debt to Equity 48.4%
Total Debt to Equity 49.3%
Interest Coverage 7
Management Effectiveness
Return On Assets 7%
Ret/ On Assets - 3 Yr. Avg. 8.8%
Return On Total Capital 7%
Ret/ On T. Cap. - 3 Yr. Avg. 9.6%
Return On Equity 8.7%
Return On Equity - 3 Yr. Avg. 10.2%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 43.7%
Gross Margin - 3 Yr. Avg. 43.9%
EBITDA Margin 16.6%
EBITDA Margin - 3 Yr. Avg. 19.6%
Operating Margin 12.1%
Oper. Margin - 3 Yr. Avg. 16.2%
Pre-Tax Margin 9.9%
Pre-Tax Margin - 3 Yr. Avg. 15.6%
Net Profit Margin 8.1%
Net Profit Margin - 3 Yr. Avg. 12.6%
Effective Tax Rate 18%
Eff/ Tax Rate - 3 Yr. Avg. 18.6%
Payout Ratio 34.3%

MKSI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MKSI stock intrinsic value calculation we used $1915.977 million for the last fiscal year's total revenue generated by MKS Instruments. The default revenue input number comes from 0001 income statement of MKS Instruments. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MKSI stock valuation model: a) initial revenue growth rate of 19.2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MKSI is calculated based on our internal credit rating of MKS Instruments, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of MKS Instruments.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MKSI stock the variable cost ratio is equal to 59.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $371 million in the base year in the intrinsic value calculation for MKSI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.2% for MKS Instruments.

Corporate tax rate of 27% is the nominal tax rate for MKS Instruments. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MKSI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MKSI are equal to 34.5%.

Life of production assets of 13.9 years is the average useful life of capital assets used in MKS Instruments operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MKSI is equal to 21.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1588.907 million for MKS Instruments - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 54.682 million for MKS Instruments is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of MKS Instruments at the current share price and the inputted number of shares is $3.7 billion.

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COMPANY NEWS

▶ Some Hedge Funds Are Dumping MKS Instruments, Inc. (MKSI)   [Dec-09-18 07:26PM  Insider Monkey]
▶ With ESI sale, Michael Burger really is Portland tech's Mr. Fix-It   [05:06PM  American City Business Journals]
▶ What a Massachusetts tech titan saw in ESI   [03:04PM  American City Business Journals]
▶ Electro Scientific Industries sells for $1B   [01:14PM  American City Business Journals]
▶ MKS Instruments: 3Q Earnings Snapshot   [04:42PM  Associated Press]
▶ MKS Instruments: 2Q Earnings Snapshot   [Jul-24-18 05:01PM  Associated Press]
▶ Earnings Preview For MKS Instruments   [08:24AM  Benzinga]
▶ MKS Instruments Announces Upcoming Investor Events   [Jul-16-18 09:00AM  GlobeNewswire]
▶ 10 Top Nasdaq Stocks to Buy Now   [Jul-13-18 02:17PM  Kiplinger]
▶ Today's Bell Ringer, June 19, 2018   [09:15AM  CNBC Videos]
▶ 5 Excellent Dividend Growth Stocks to Evade Trade Fears   [Jun-18-18 02:15PM  InvestorPlace]
▶ Should You Buy MKS Instruments Inc (NASDAQ:MKSI)?   [Jun-08-18 09:40AM  Simply Wall St.]
▶ Stocks Flashing Renewed Technical Strength: MKS Instruments   [May-24-18 03:00AM  Investor's Business Daily]
▶ MKS Instruments Promotes Dr. John T.C. Lee to President   [May-09-18 04:30PM  GlobeNewswire]
▶ MKS Instruments: 1Q Earnings Snapshot   [Apr-24-18 05:08PM  Associated Press]
▶ 6 Chips Stocks Ready to Rebound   [Apr-13-18 01:30PM  Investopedia]
▶ ASML, Lam Research, Taiwan Semiconductor Kick Off Chip Earnings Season   [Apr-12-18 04:29PM  Investor's Business Daily]
▶ Apple Leads Stock Market Higher; Will These 3 Chip Stocks Rally Again?   [Apr-09-18 03:45PM  Investor's Business Daily]
▶ Anatomy of Success: MKS Instruments (MKSI)   [Mar-22-18 01:06PM  Zacks]
▶ A Look At The Fair Value Of MKS Instruments Inc (NASDAQ:MKSI)   [Feb-19-18 08:51AM  Simply Wall St.]
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