Quantbot Technologies LP Sells 2,698 Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Quantbot Technologies LP decreased its position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 4.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 58,773 shares of the semiconductor company’s stock after selling 2,698 shares during the period. Quantbot Technologies LP’s holdings in Kulicke and Soffa Industries were worth $2,652,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Creative Planning raised its stake in shares of Kulicke and Soffa Industries by 3.4% in the second quarter. Creative Planning now owns 11,384 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 372 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of 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 valued at $32,000 after buying an additional 414 shares in the last quarter. Meritage Portfolio Management lifted its holdings in shares of Kulicke and Soffa Industries by 9.4% during the 3rd quarter. Meritage Portfolio Management now owns 6,054 shares of the semiconductor company’s stock worth $273,000 after acquiring an additional 519 shares during the period. Signaturefd LLC boosted its position in shares of 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 acquiring an additional 543 shares in the last quarter. Finally, Donald L. Hagan LLC increased its stake in Kulicke and Soffa Industries by 10.6% in the second quarter. Donald L. Hagan LLC now owns 6,525 shares of the semiconductor company’s stock valued at $321,000 after acquiring an additional 626 shares during the period. Institutional investors own 98.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on KLIC shares. StockNews.com cut shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Needham & Company LLC upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Friday, November 15th. 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. DA Davidson dropped their price objective on 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 target price on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a research note 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 issued a buy rating to the company. Based on data from MarketBeat.com, Kulicke and Soffa Industries currently has an average rating of “Hold” and an average price target of $52.40.

Insiders Place Their Bets

In other Kulicke and Soffa Industries news, CFO Lester A. Wong sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $46.37, for a total value of $2,782,200.00. Following the completion of the sale, the chief financial officer now owns 79,636 shares of the company’s stock, valued at approximately $3,692,721.32. This represents a 42.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chan Pin Chong sold 9,730 shares of the firm’s 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 sale, the executive vice president now directly owns 81,916 shares in the company, valued at $3,773,870.12. The trade was a 10.62 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 99,730 shares of company stock valued at $4,657,261. 0.03% of the stock is currently owned by insiders.

Kulicke and Soffa Industries Stock Performance

Kulicke and Soffa Industries stock opened at $47.41 on Thursday. The business’s fifty day moving average is $45.54 and its two-hundred day moving average is $45.39. The firm has a market cap of $2.55 billion, a P/E ratio of -38.54 and a beta of 1.38. Kulicke and Soffa Industries, Inc. has a 52 week low of $38.20 and a 52 week high of $56.71.

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

Kulicke and Soffa Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, January 7th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 1.73%. This is a positive change 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 (DPR) is presently -65.04%.

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

Kulicke and Soffa Industries 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.