Kulicke and Soffa Industries (NASDAQ:KLIC) Rating Increased to Hold at StockNews.com

Kulicke and Soffa Industries (NASDAQ:KLIC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

KLIC has been the subject of a number of other research reports. 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 note on Friday, November 15th. TD Cowen boosted their price objective on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 15th. Finally, DA Davidson dropped their price target 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.40.

Kulicke and Soffa Industries Stock Up 2.8 %

Shares of KLIC stock traded up $1.21 during trading hours on Wednesday, reaching $43.90. 562,051 shares of the stock traded hands, compared to its average volume of 426,231. The business has a fifty day moving average price of $47.67 and a 200 day moving average price of $45.44. The firm has a market capitalization of $2.36 billion, a PE ratio of -35.69 and a beta of 1.37. Kulicke and Soffa Industries has a 1-year low of $38.20 and a 1-year high of $53.71.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings data 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 return on equity of 0.92% and a negative net margin of 9.77%. The business had revenue of $181.30 million during the quarter, compared to the consensus estimate of $180.03 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Research analysts expect that Kulicke and Soffa Industries will post 1.29 earnings per share for the current fiscal year.

Kulicke and Soffa Industries announced that its board has approved a stock repurchase program on Wednesday, November 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows 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 board of directors believes its stock is undervalued.

Insider Activity at Kulicke and Soffa Industries

In related news, SVP Robert Nestor Chylak sold 11,391 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $49.52, for a total value of $564,082.32. Following the sale, the senior vice president now owns 20,838 shares of the company’s stock, valued at approximately $1,031,897.76. The trade was a 35.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Nelson Munpun Wong sold 30,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $47.56, for a total value of $1,426,800.00. Following the completion of the sale, the senior vice president now owns 177,533 shares in the company, valued at $8,443,469.48. This represents a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,121 shares of company stock worth $10,527,843 in the last quarter. Company insiders own 0.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position in Kulicke and Soffa Industries by 137.5% in the third quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 414 shares during the last quarter. Signaturefd LLC raised its holdings in Kulicke and Soffa Industries by 226.3% in the third quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 543 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Kulicke and Soffa Industries by 61.0% in the 4th quarter. GAMMA Investing LLC now owns 1,021 shares of the semiconductor company’s stock worth $48,000 after buying an additional 387 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Kulicke and Soffa Industries during the 3rd quarter valued at about $53,000. Finally, CWM LLC boosted its stake in Kulicke and Soffa Industries by 101.8% during the third quarter. CWM LLC now owns 1,923 shares of the semiconductor company’s stock worth $87,000 after acquiring an additional 970 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

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.