Kulicke and Soffa Industries (NASDAQ:KLIC) Rating Lowered to Sell at StockNews.com

Kulicke and Soffa Industries (NASDAQ:KLIC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Other equities research analysts also recently issued research reports about the company. TD Cowen lowered their price target on Kulicke and Soffa Industries from $52.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Craig Hallum lowered their price target on 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.33.

Kulicke and Soffa Industries Stock Down 2.1 %

NASDAQ KLIC opened at $47.05 on Tuesday. The stock’s 50-day simple moving average is $43.87 and its two-hundred day simple moving average is $45.35. Kulicke and Soffa Industries has a twelve month low of $38.20 and a twelve month high of $56.71. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -45.24 and a beta of 1.38.

Kulicke and Soffa Industries declared that its board has approved a stock buyback program on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 11.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in shares of Kulicke and Soffa Industries in the first quarter worth about $29,000. Advisors Asset Management Inc. increased its holdings in 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 purchasing an additional 414 shares during the period. Signaturefd LLC increased its holdings in Kulicke and Soffa Industries by 226.3% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 543 shares during the period. Blue Trust Inc. increased its holdings in Kulicke and Soffa Industries by 17,075.0% during the 2nd quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 1,366 shares during the period. Finally, Innealta Capital LLC purchased a new position in Kulicke and Soffa Industries during the 2nd quarter valued at about $73,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

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.