Should You Hold MKS Instruments (MKSI)?

Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (Class Y) returned -1.8% compared to a -4.7% decline for the Russell Midcap Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Madison Mid Cap Fund highlighted stocks like MKS Instruments, Inc. (NASDAQ:MKSI) in the third quarter 2023 investor letter. Headquartered in Andover, Massachusetts, MKS Instruments, Inc. (NASDAQ:MKSI) provides technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications. On October 17, 2023, MKS Instruments, Inc. (NASDAQ:MKSI) stock closed at $80.59 per share. One-month return of MKS Instruments, Inc. (NASDAQ:MKSI) was -7.70%, and its shares gained 3.79% of their value over the last 52 weeks. MKS Instruments, Inc. (NASDAQ:MKSI) has a market capitalization of $5.388 billion.

Madison Mid Cap Fund made the following comment about MKS Instruments, Inc. (NASDAQ:MKSI) in its Q3 2023 investor letter:

“The bottom five detractors for the quarter were Dollar Tree, MKS Instruments, Inc. (NASDAQ:MKSI), CarMax, Floor & Décor, and Liberty Media- Formula One. MKS Instruments continues to battle a tough semiconductor market, where optimism earlier in the year for a potential turn in demand has yet to come to fruition.”

A worker assembling the inner circuitry of a semiconductor product. Editorial photo for a financial news article. 8k. –ar 16:9

MKS Instruments, Inc. (NASDAQ:MKSI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held MKS Instruments, Inc. (NASDAQ:MKSI) at the end of second quarter which was 17 in the previous quarter.

We discussed MKS Instruments, Inc. (NASDAQ:MKSI) in another article and shared millionaire Chuck Royce’s investment portfolio, his net worth and the overall performance of the stocks. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.