Kulicke and Soffa Industries (NASDAQ:KLIC) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a sell rating to a hold rating in a report released on Monday morning.

Several other equities analysts have also commented on the company. Needham & Company LLC raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Friday, November 15th. DA Davidson decreased 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. Finally, 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 note on Friday, November 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.40.

Kulicke and Soffa Industries Trading Up 0.3 %

Shares of KLIC opened at $46.66 on Monday. Kulicke and Soffa Industries has a 1-year low of $38.20 and a 1-year high of $56.71. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -37.93 and a beta of 1.38. The firm’s 50-day moving average price is $47.75 and its 200-day moving average price is $45.75.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $181.30 million for 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 firm’s revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS. On average, research analysts forecast that Kulicke and Soffa Industries will post 1.29 EPS for the current fiscal year.

Kulicke and Soffa Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Thursday, December 19th will be paid a $0.205 dividend. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, December 19th. This represents a $0.82 dividend on an annualized basis and a yield of 1.76%. Kulicke and Soffa Industries’s payout ratio is presently -66.67%.

Kulicke and Soffa Industries announced that its board has authorized a share repurchase plan on Wednesday, November 13th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the semiconductor company to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Kulicke and Soffa Industries news, CFO Lester A. Wong sold 60,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $46.37, for a total transaction of $2,782,200.00. Following the sale, the chief financial officer now directly owns 79,636 shares in the company, valued at approximately $3,692,721.32. This trade represents a 42.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Chan Pin Chong sold 9,730 shares of Kulicke and Soffa Industries stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total value of $448,261.10. Following the completion of the sale, the executive vice president now directly owns 81,916 shares of the company’s stock, valued at approximately $3,773,870.12. The trade was a 10.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 221,121 shares of company stock valued at $10,527,843. Insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several institutional investors have recently modified their holdings of the business. Advisors Asset Management Inc. raised its position in Kulicke and Soffa Industries by 137.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock worth $32,000 after buying an additional 414 shares during the last quarter. Signaturefd LLC raised its holdings in shares of 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 purchasing an additional 543 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Kulicke and Soffa Industries during the third quarter valued at approximately $53,000. CWM LLC lifted its position 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 valued at $87,000 after purchasing an additional 970 shares during the period. Finally, nVerses Capital LLC boosted its holdings in Kulicke and Soffa Industries by 1,900.0% in the second quarter. nVerses Capital LLC now owns 2,000 shares of the semiconductor company’s stock worth $98,000 after purchasing an additional 1,900 shares during the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

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.