Needham & Company LLC upgraded shares of Kulicke and Soffa Industries (NASDAQ:KLIC – Free Report) from a hold rating to a buy rating in a research report sent to investors on Friday, Marketbeat.com reports. Needham & Company LLC currently has $55.00 price target on the semiconductor company’s stock.
KLIC has been the topic of a number of other research reports. Craig Hallum lowered their target price on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. TD Cowen lowered their price objective 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. Finally, StockNews.com lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Kulicke and Soffa Industries has an average rating of “Hold” and a consensus target price of $52.40.
Read Our Latest Stock Report on Kulicke and Soffa Industries
Kulicke and Soffa Industries Stock Performance
Kulicke and Soffa Industries (NASDAQ:KLIC – Get Free Report) last posted its quarterly 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). Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The firm had revenue of $181.30 million for the quarter, compared to analysts’ expectations of $180.03 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, sell-side analysts predict that Kulicke and Soffa Industries will post 1.32 EPS for the current fiscal year.
Kulicke and Soffa Industries Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.78%. This is an increase from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio is presently -65.04%.
Kulicke and Soffa Industries announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 11.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
Hedge Funds Weigh In On Kulicke and Soffa Industries
A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in shares of Kulicke and Soffa Industries by 85.2% during the third quarter. Barclays PLC now owns 96,604 shares of the semiconductor company’s stock worth $4,361,000 after purchasing an additional 44,429 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Kulicke and Soffa Industries in the 3rd quarter worth about $53,000. Kovitz Investment Group Partners LLC increased its stake in Kulicke and Soffa Industries by 27.8% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 88,712 shares of the semiconductor company’s stock worth $3,977,000 after buying an additional 19,279 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Kulicke and Soffa Industries by 32.4% during the third quarter. Stifel Financial Corp now owns 48,328 shares of the semiconductor company’s stock valued at $2,181,000 after acquiring an additional 11,836 shares during the last quarter. Finally, Systematic Financial Management LP lifted its position in shares of Kulicke and Soffa Industries by 59.7% in the third quarter. Systematic Financial Management LP now owns 140,269 shares of the semiconductor company’s stock valued at $6,330,000 after acquiring an additional 52,419 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors and hedge funds.
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.
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