On May 9, 2016, Zacks Investment Research upgraded MKS Instruments, Inc. MKSI to a Zacks Rank #1 (Strong Buy) from a Zacks Rank #3 (Hold). Going by the Zacks model, companies holding a Zacks Rank #1 have strong chances of outperforming the broader market over the next few quarters.Why the Upgrade?MKS Instruments’ revenues and margins have lately been boosted by increased demand from semiconductor customers, strong 3D NAND business, greater innovation and a robust product portfolio. Strategic association with Newport Corporation is also expected to boost the company’s top and bottom lines in the near future. The company is also steadily improving its cash position via tactical cost-saving plans. Armed with healthier liquid assets, the company aims to reward its shareholders through share repurchase and dividend payout programs in the upcoming quarters.Moreover, MKS Instruments attempts to reinforce its business through organic growth plans. In the second half of 2015, the company had secured a contract from a premium vacuum solutions provider in the market. The deal will likely expand the company’s market share in the global industrial vacuum market and further improve its top line and bottom line in the quarters head.These optimistic developments have resulted in an upward revision in the Zacks Consensus Estimate over the last 60 days. The Zacks Consensus Estimate inched up 1.9% to $2.20 for 2016 and by 18.1% to $2.81 for 2017.Other Stocks to ConsiderOther well-ranked stocks in the industry include Brooks Automation, Inc. BRKS, Cohu, Inc. COHU and Entegris, Inc. ENTG. All the three companies presently hold a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BROOKS AUTOMATN (BRKS): Free Stock Analysis Report COHU INC (COHU): Free Stock Analysis Report MKS INSTRUMENTS (MKSI): Free Stock Analysis Report ENTEGRIS INC (ENTG): Free Stock Analysis Report To read this article on Zacks.com click here.