Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Receives $52.40 Average Price Target from Brokerages

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) has received a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $52.40.

Several brokerages recently issued reports on KLIC. StockNews.com downgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. DA Davidson lowered 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 report on Friday, November 15th. Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, November 15th. TD Cowen lifted 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 note on Friday, November 15th. Finally, Craig Hallum cut their price objective on shares of 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.

Kulicke and Soffa Industries Price Performance

Shares of Kulicke and Soffa Industries stock opened at $48.42 on Monday. Kulicke and Soffa Industries has a fifty-two week low of $38.20 and a fifty-two week high of $56.71. The firm has a fifty day moving average price of $45.77 and a two-hundred day moving average price of $45.37. The company has a market cap of $2.61 billion, a PE ratio of -39.37 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released 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 business had revenue of $181.30 million for the quarter, compared to the consensus estimate of $180.03 million. During the same period in the previous year, the business posted $0.51 earnings per share. Kulicke and Soffa Industries’s revenue was down 10.4% on a year-over-year basis. Analysts expect that Kulicke and Soffa Industries will post 1.29 earnings per share for the current fiscal year.

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

Kulicke and Soffa Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be issued a $0.205 dividend. This is an increase from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, December 19th. Kulicke and Soffa Industries’s payout ratio is currently -65.04%.

Insider Activity at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, SVP Nelson Munpun Wong sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $47.56, for a total value of $1,426,800.00. Following the transaction, the senior vice president now directly owns 177,533 shares of the company’s stock, valued at $8,443,469.48. This trade represents a 14.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Chan Pin Chong sold 9,730 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.07, for a total transaction of $448,261.10. Following the completion of the sale, the executive vice president now owns 81,916 shares in the company, valued at approximately $3,773,870.12. The trade was a 10.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,730 shares of company stock worth $4,657,261. Corporate insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several hedge funds have recently added to or reduced their stakes in KLIC. The Manufacturers Life Insurance Company increased its stake in shares of Kulicke and Soffa Industries by 37.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company’s stock valued at $52,918,000 after acquiring an additional 291,787 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in Kulicke and Soffa Industries by 22.0% during the third quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company’s stock valued at $66,319,000 after purchasing an additional 264,638 shares during the last quarter. Royce & Associates LP lifted its holdings in Kulicke and Soffa Industries by 20.3% during the third quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company’s stock valued at $50,154,000 after purchasing an additional 187,673 shares during the last quarter. DDD Partners LLC bought a new stake in shares of Kulicke and Soffa Industries during the second quarter valued at about $8,163,000. Finally, Emerald Advisers LLC increased its position in shares of Kulicke and Soffa Industries by 57.5% during the second quarter. Emerald Advisers LLC now owns 443,002 shares of the semiconductor company’s stock valued at $21,791,000 after buying an additional 161,791 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

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.