TimesSquare Capital Management LLC reported a significant new position in MKS Instruments Inc. on August 18. The asset management firm purchased 288,450 shares during the second quarter.
The new stake is valued at approximately $128.3 million. This investment makes MKS the eighth-largest holding in the TimesSquare Capital portfolio. The firm now owns roughly 0.43% of the company.
This institutional buying follows a pre-planned stock sale by CEO John T.C. Lee on August 14. Markets often interpret major new institutional stakes as a strong vote of confidence in a company's future prospects.