Algert Global LLC Buys Shares of 5,671 Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Algert Global LLC purchased a new position in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,671 shares of the semiconductor company’s stock, valued at approximately $279,000.

A number of other hedge funds also recently added to or reduced their stakes in KLIC. Mackenzie Financial Corp acquired a new position in Kulicke and Soffa Industries during the 2nd quarter worth $457,000. Millennium Management LLC lifted its stake in Kulicke and Soffa Industries by 418.5% during the second quarter. Millennium Management LLC now owns 69,211 shares of the semiconductor company’s stock valued at $3,404,000 after buying an additional 55,862 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Kulicke and Soffa Industries by 37.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company’s stock worth $52,918,000 after purchasing an additional 291,787 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Kulicke and Soffa Industries during the second quarter valued at $905,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Kulicke and Soffa Industries in the second quarter worth approximately $237,000. 98.22% of the stock is currently owned by institutional investors.

Kulicke and Soffa Industries Price Performance

KLIC opened at $44.45 on Thursday. The company has a market capitalization of $2.47 billion, a P/E ratio of -37.35 and a beta of 1.38. The firm’s fifty day moving average price is $42.25 and its two-hundred day moving average price is $45.76. Kulicke and Soffa Industries, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $56.71.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Wednesday, August 7th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. Kulicke and Soffa Industries had a negative net margin of 7.94% and a positive return on equity of 0.61%. The business had revenue of $181.70 million for the quarter, compared to analyst estimates of $179.28 million. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue was down 4.8% on a year-over-year basis. On average, equities research analysts expect that Kulicke and Soffa Industries, Inc. will post -0.45 EPS for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Thursday, September 19th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.80%. Kulicke and Soffa Industries’s payout ratio is presently -67.23%.

Analysts Set New Price Targets

KLIC has been the topic of several research reports. Craig Hallum dropped 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 report on Thursday, August 8th. TD Cowen decreased their target price on Kulicke and Soffa Industries from $52.00 to $45.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Kulicke and Soffa Industries currently has a consensus rating of “Hold” and a consensus target price of $47.33.

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.