Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board decreased its holdings in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,636 shares of the semiconductor company’s stock after selling 6,400 shares during the period. Public Sector Pension Investment Board owned approximately 0.21% of Kulicke and Soffa Industries worth $5,219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Kulicke and Soffa Industries by 1.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,735 shares of the semiconductor company’s stock valued at $891,000 after purchasing an additional 250 shares during the last quarter. Creative Planning increased its holdings in shares of Kulicke and Soffa Industries by 3.4% in the second quarter. Creative Planning now owns 11,384 shares of the semiconductor company’s stock valued at $560,000 after buying an additional 372 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Kulicke and Soffa Industries by 137.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 414 shares during the last quarter. Meritage Portfolio Management boosted its stake in shares of Kulicke and Soffa Industries by 9.4% during the 3rd quarter. Meritage Portfolio Management now owns 6,054 shares of the semiconductor company’s stock worth $273,000 after acquiring an additional 519 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Kulicke and Soffa Industries by 226.3% in the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 543 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company’s stock.

Kulicke and Soffa Industries Price Performance

NASDAQ KLIC opened at $48.42 on Monday. The company has a 50 day simple moving average of $45.77 and a 200-day simple moving average of $45.37. Kulicke and Soffa Industries, Inc. has a 52-week low of $38.20 and a 52-week high of $56.71. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -39.37 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The company had revenue of $181.30 million for the quarter, compared to analyst estimates of $180.03 million. During the same period last year, the business earned $0.51 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. On average, analysts predict that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

Kulicke and Soffa Industries announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Kulicke and Soffa Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be given a $0.205 dividend. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio is presently -65.04%.

Insider Transactions at Kulicke and Soffa Industries

In other news, CFO Lester A. Wong sold 60,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $46.37, for a total transaction of $2,782,200.00. Following the transaction, the chief financial officer now owns 79,636 shares in the company, valued at approximately $3,692,721.32. This trade represents a 42.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nelson Munpun Wong sold 30,000 shares of Kulicke and Soffa Industries stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $47.56, for a total transaction of $1,426,800.00. Following the completion of the sale, the senior vice president now directly owns 177,533 shares of the company’s stock, valued at approximately $8,443,469.48. The trade was a 14.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,730 shares of company stock valued at $4,657,261 in the last three months. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KLIC shares. TD Cowen upped their target price on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 15th. StockNews.com lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Craig Hallum dropped their target price 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. Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, November 15th. Finally, DA Davidson decreased their price objective on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Kulicke and Soffa Industries presently has an average rating of “Hold” and a consensus target price of $52.40.

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.