Kulicke and Soffa Industries (NASDAQ:KLIC) Hits New 1-Year Low at $38.38

Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) hit a new 52-week low on Friday . The stock traded as low as $38.38 and last traded at $38.55, with a volume of 65435 shares trading hands. The stock had previously closed at $39.77.

Wall Street Analyst Weigh In

KLIC has been the topic of a number of recent analyst reports. TD Cowen cut their price objective on Kulicke and Soffa Industries from $52.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Craig Hallum dropped their price target on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.33.

Kulicke and Soffa Industries Stock Performance

The business has a 50 day moving average of $45.41 and a two-hundred day moving average of $46.88. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -32.38 and a beta of 1.40.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Kulicke and Soffa Industries had a positive return on equity of 0.61% and a negative net margin of 7.94%. The company had revenue of $181.70 million for the quarter, compared to analyst estimates of $179.28 million. During the same period in the prior year, the firm earned $0.55 earnings per share. Kulicke and Soffa Industries’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities analysts predict that Kulicke and Soffa Industries, Inc. will post -0.45 EPS for the current fiscal year.

Kulicke and Soffa Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Thursday, September 19th will be issued a $0.20 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.08%. Kulicke and Soffa Industries’s dividend payout ratio is presently -67.23%.

Institutional Trading of Kulicke and Soffa Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP bought a new stake in Kulicke and Soffa Industries during the first quarter worth $26,036,000. Norges Bank bought a new stake in shares of Kulicke and Soffa Industries in the 4th quarter worth $18,531,000. The Manufacturers Life Insurance Company lifted its position in shares of Kulicke and Soffa Industries by 37.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company’s stock valued at $52,918,000 after purchasing an additional 291,787 shares in the last quarter. DDD Partners LLC purchased a new position in Kulicke and Soffa Industries during the second quarter worth about $8,163,000. Finally, Emerald Advisers LLC boosted its stake in shares of Kulicke and Soffa Industries by 57.5% in the 2nd quarter. Emerald Advisers LLC now owns 443,002 shares of the semiconductor company’s stock worth $21,791,000 after buying an additional 161,791 shares during the last quarter. 98.22% of the stock is owned by institutional investors.

About Kulicke and Soffa Industries

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services (APS). The company offers ball bonding equipment, wafer level bonding equipment, wedge bonding equipment; and advanced display, die-attach, and thermocompression systems and solutions, as well as tools, spares and services for equipment.