Wasatch Advisors LP Boosts Stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Wasatch Advisors LP boosted its stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 10.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 398,225 shares of the semiconductor company’s stock after buying an additional 38,655 shares during the quarter. Wasatch Advisors LP owned approximately 0.73% of Kulicke and Soffa Industries worth $17,972,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KLIC. Vanguard Group Inc. lifted its stake in Kulicke and Soffa Industries by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 2,841,236 shares of the semiconductor company’s stock valued at $142,943,000 after buying an additional 128,026 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Kulicke and Soffa Industries in the 1st quarter valued at approximately $195,000. Harbor Capital Advisors Inc. lifted its stake in Kulicke and Soffa Industries by 297.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,012 shares of the semiconductor company’s stock valued at $689,000 after buying an additional 10,483 shares in the last quarter. AlphaMark Advisors LLC purchased a new stake in Kulicke and Soffa Industries in the 2nd quarter valued at approximately $340,000. Finally, Blue Trust Inc. lifted its stake in Kulicke and Soffa Industries by 17,075.0% in the 2nd quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 1,366 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Kulicke and Soffa Industries Stock Up 2.1 %

Shares of KLIC opened at $48.42 on Friday. The stock’s fifty day simple moving average is $45.77 and its 200 day simple moving average is $45.39. Kulicke and Soffa Industries, Inc. has a twelve month low of $38.20 and a twelve month high of $56.71.

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

Kulicke and Soffa Industries declared that its board has approved a stock repurchase plan on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Kulicke and Soffa Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors 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 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is -65.04%.

Insider Buying and Selling

In other Kulicke and Soffa Industries news, EVP Chan Pin Chong sold 9,730 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total value of $448,261.10. Following the transaction, the executive vice president now directly owns 81,916 shares of the company’s stock, valued at $3,773,870.12. This trade represents a 10.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Nelson Munpun Wong sold 30,000 shares of the firm’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 transaction, the senior vice president now directly owns 177,533 shares in the company, valued at $8,443,469.48. This trade represents a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,730 shares of company stock valued at $4,657,261. 0.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Craig Hallum cut their price target on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Needham & Company LLC upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, November 15th. DA Davidson cut their price target on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 15th. Finally, TD Cowen boosted their price target 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Kulicke and Soffa Industries has a consensus rating of “Hold” and an average target price of $52.40.

Kulicke and Soffa Industries Company Profile

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.