Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Receives $52.40 Average PT from Analysts

Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) have been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $52.40.

Several equities analysts have recently weighed in on the company. StockNews.com downgraded Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Needham & Company LLC raised shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Friday, November 15th. DA Davidson reduced their target price 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. Finally, TD Cowen boosted their price target on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 15th.

Insider Buying and Selling

In related news, EVP Chan Pin Chong sold 9,730 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was 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 directly owns 81,916 shares of the company’s stock, valued at approximately $3,773,870.12. This trade represents a 10.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Fusen Ernie Chen sold 80,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $48.29, for a total transaction of $3,863,200.00. Following the completion of the transaction, the chief executive officer now directly 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. Over the last ninety days, insiders sold 221,121 shares of company stock worth $10,527,843. Insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Kulicke and Soffa Industries

A number of institutional investors and hedge funds have recently made changes to their positions in KLIC. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Kulicke and Soffa Industries by 1.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,735 shares of the semiconductor company’s stock valued at $891,000 after buying an additional 250 shares in the last quarter. Creative Planning boosted its holdings in Kulicke and Soffa Industries by 3.4% during the 2nd quarter. Creative Planning now owns 11,384 shares of the semiconductor company’s stock valued at $560,000 after acquiring an additional 372 shares during the period. Advisors Asset Management Inc. grew 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 valued at $32,000 after acquiring an additional 414 shares in the last quarter. Meritage Portfolio Management increased its stake in Kulicke and Soffa Industries by 9.4% during the third quarter. Meritage Portfolio Management now owns 6,054 shares of the semiconductor company’s stock worth $273,000 after purchasing an additional 519 shares during the period. Finally, Signaturefd LLC lifted its position 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 worth $35,000 after purchasing an additional 543 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Stock Performance

NASDAQ:KLIC opened at $46.95 on Friday. The stock has a market capitalization of $2.53 billion, a PE ratio of -38.17 and a beta of 1.38. Kulicke and Soffa Industries has a fifty-two week low of $38.20 and a fifty-two week high of $56.71. The company has a fifty day moving average of $47.25 and a two-hundred day moving average of $45.65.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $180.03 million. During the same quarter last year, the company earned $0.51 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. Research analysts forecast that Kulicke and Soffa Industries will post 1.29 earnings per share for the current year.

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

Kulicke and Soffa Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, December 19th. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s payout ratio is currently -66.67%.

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.