News Summary
NeutralMKS delivered a strong Q2 2026 earnings beat ($1.25B revenue) with raised Q3 guidance ($1.35B expected), benefiting from robust AI-driven semiconductor and electronics demand. However, analyst sentiment has turned cautiously optimistic with Morgan Stanley significantly cutting its price target by 27% to $345 in mid-September despite fundamental strength, suggesting emerging valuation concerns and near-term headwinds despite solid long-term growth drivers.
Red flags
- •Morgan Stanley price target cut 27% ($439→$345) in September despite beat/raise cycle, signaling analyst conviction concerns on valuation
- •Significant spread in consensus price targets ($316–$430) reflecting material disagreement on near-term fair value amid AI-semiconductor volatility
- •Mixed analyst ratings (1 sell, 2 hold vs. 12 buy, 1 strong buy) despite 'Moderate Buy' consensus suggests underlying hesitation among coverage
Funds Buying (3)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Point72 | Steve Cohen | 2.0M | +386K | $888M | 1.4% | +24% | Existing |
| Sachem Head Capital | Scott Ferguson | 813K | +813K | $361M | 7.5% | — | NEW |
| Glenview Capital | Larry Robbins | 99K | +99K | $44M | 0.9% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where MKSI ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #4 of this fund's book
- 1CREDO TECHNOLOGY GROUP HOLDI$1,673M
- 2ASML HLDG NV$1,103M
- 3AMAZON COM INC$1,061M
- 4MKS INC.$888M
- 5ARISTA NETWORKS INC$873M
- 6SEAGATE TECHNOLOGY HLDNGS PL$794M
- 7ADVANCED MICRO DEVICES INC$772M
position #5 of this fund's book
- 2Seagate Technology Hldngs PL$455M
- 3Primo Brands Corporation$435M
- 4Performance Food Group Co$374M
- 5MKS INC.$361M
- 6Dicks Sporting Goods Inc$338M
- 7Carvana Co$295M
- 8Sotera Health Co$276M
position #27 of this fund's book
- 24CISCO SYS INC$49M
- 25ELEMENT SOLUTIONS INC$47M
- 26APPLIED MATLS INC$47M
- 27MKS INC.$44M
- 28SIX FLAGS ENTERTAINMENT CORP$43M
- 29STMICROELECTRONICS N V$42M
- 30ABBVIE INC$37M
Values are quarter-end position sizes. Shown only for funds where MKSI ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Insider Activity
Beneficial Ownership (13D/13G)
| Filer | Form | Shares | % of Class | Filed | Src |
|---|---|---|---|---|---|
| JPMORGAN CHASE & CO. | SC 13G/A | 2.0M | 2.9% | 2026-09-03 | ↗ |
| Victory Capital Management, Inc. | SC 13G/A | 605K | 0.9% | 2026-07-24 | ↗ |
| JPMORGAN CHASE & CO | SC 13G | 3.4M | 5.0% | 2026-07-16 | ↗ |
| FMR LLC | SC 13G/A | 2.2M | 3.3% | 2026-05-06 | ↗ |
| Vanguard Capital Management | SC 13G | 3.5M | 5.2% | 2026-04-30 | ↗ |
| Vanguard Portfolio Management | SC 13G | 3.7M | 5.5% | 2026-04-29 | ↗ |
SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.