Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) has earned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $52.40.

Several research firms recently commented on KLIC. DA Davidson reduced their target price on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 15th. StockNews.com downgraded Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Needham & Company LLC upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Friday, November 15th. Finally, TD Cowen lifted their price target on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 15th.

Kulicke and Soffa Industries Stock Performance

Shares of NASDAQ:KLIC opened at $47.07 on Friday. The firm has a market capitalization of $2.54 billion, a PE ratio of -38.27 and a beta of 1.38. Kulicke and Soffa Industries has a 52-week low of $38.20 and a 52-week high of $56.71. The firm has a fifty day moving average of $47.21 and a 200 day moving average of $45.63.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted 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 firm had revenue of $181.30 million during the quarter, compared to analysts’ expectations of $180.03 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. Kulicke and Soffa Industries’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that Kulicke and Soffa Industries will post 1.29 EPS for the current fiscal year.

Kulicke and Soffa Industries declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 13th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Kulicke and Soffa Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th 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 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is currently -66.67%.

Insiders Place Their Bets

In other Kulicke and Soffa Industries news, EVP Chan Pin Chong sold 9,730 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total transaction of $448,261.10. Following the completion of the transaction, the executive vice president now owns 81,916 shares of the company’s stock, valued at approximately $3,773,870.12. This trade represents a 10.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Fusen Ernie Chen sold 80,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $48.29, for a total transaction of $3,863,200.00. Following the completion of the sale, the chief executive officer now directly owns 1,100,765 shares in the company, valued at $53,155,941.85. This represents a 6.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,121 shares of company stock worth $10,527,843. 0.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its holdings in shares of Kulicke and Soffa Industries by 137.5% during 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 stake in Kulicke and Soffa Industries by 226.3% during the third quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 543 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Kulicke and Soffa Industries in the third quarter worth $53,000. Blue Trust Inc. grew its stake in shares of Kulicke and Soffa Industries by 17,075.0% in the second quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock worth $69,000 after acquiring an additional 1,366 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Kulicke and Soffa Industries during the second quarter valued at $73,000. Hedge funds and other 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.