Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Short Interest Up 9.9% in January

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 3,450,000 shares, a growth of 9.9% from the January 15th total of 3,140,000 shares. Based on an average daily trading volume, of 555,200 shares, the days-to-cover ratio is presently 6.2 days. Approximately 6.7% of the company’s stock are short sold.

Kulicke and Soffa Industries Price Performance

Shares of NASDAQ:KLIC traded down $0.24 during trading on Monday, hitting $41.07. 253,719 shares of the company were exchanged, compared to its average volume of 494,395. Kulicke and Soffa Industries has a 52-week low of $38.20 and a 52-week high of $53.71. The stock has a 50 day moving average of $46.05 and a 200 day moving average of $44.89. The company has a market cap of $2.20 billion, a PE ratio of 342.25 and a beta of 1.36.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). Kulicke and Soffa Industries had a negative return on equity of 1.26% and a net margin of 0.48%. Sell-side analysts forecast that Kulicke and Soffa Industries will post 1.24 EPS for the current fiscal year.

Kulicke and Soffa Industries announced that its board has initiated a stock buyback program on Wednesday, November 13th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KLIC shares. TD Cowen increased their price target on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 15th. StockNews.com upgraded shares of Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. DA Davidson dropped their price objective on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $53.00 target price on shares of Kulicke and Soffa Industries in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.00.

Insider Activity at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, SVP Robert Nestor Chylak sold 11,391 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $49.52, for a total value of $564,082.32. Following the completion of the sale, the senior vice president now owns 20,838 shares in the company, valued at approximately $1,031,897.76. This trade represents a 35.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Fusen Ernie Chen sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $48.29, for a total value of $3,863,200.00. Following the completion of the transaction, the chief executive officer now owns 1,100,765 shares in the company, valued at $53,155,941.85. The trade was a 6.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 221,121 shares of company stock valued at $10,527,843. 3.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in 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 buying an additional 414 shares during the period. Signaturefd LLC increased its holdings in shares of Kulicke and Soffa Industries by 226.3% in the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after buying an additional 543 shares during the last quarter. Summit Securities Group LLC purchased a new position in Kulicke and Soffa Industries in the fourth quarter worth $37,000. GAMMA Investing LLC increased its stake in Kulicke and Soffa Industries by 61.0% in the fourth quarter. GAMMA Investing LLC now owns 1,021 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 387 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Kulicke and Soffa Industries during the third quarter valued at about $53,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.