MKSI - MKS Instruments rises as Benchmark upgrades ahead of semi recovery new fabs

• MKS Instruments ( NASDAQ: MKSI ) shares rose around 1% in early trading on Wednesday as investment firm Benchmark upgraded the semiconductor equipment company ahead of a recovery in the industry, along with new fabs coming online next year.
• An expected cyclical upswing in 2024 combined with the ramp of new fabs and funding by the U.S., Europe, and Japan for internal chip production is seen lifting non-GAAP earnings to $8.01 per diluted share," analyst Mark Miller wrote in a note to clients.
• Miller raised his rating on MKS Instruments ( MKSI ) shares to buy with a per-share price target of $125.
• The analyst also noted that MKS Instruments ( MKSI ), which reported fourth-quarter results earlier this week, is likely to recover from ransomware attack it saw earlier in the present quarter.
• Last month, MKS Instruments ( MKSI ) declared its quarterly dividend of 22 cents per share, payable to shareholders of record February 27 on March 10 .

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