Covestor Ltd Sells 877 Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Covestor Ltd reduced its stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 35.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,607 shares of the semiconductor company’s stock after selling 877 shares during the quarter. Covestor Ltd’s holdings in Kulicke and Soffa Industries were worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. First Eagle Investment Management LLC lifted its position in Kulicke and Soffa Industries by 8.1% in the 1st quarter. First Eagle Investment Management LLC now owns 205,299 shares of the semiconductor company’s stock worth $10,329,000 after buying an additional 15,350 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Kulicke and Soffa Industries by 26.8% in the first quarter. Russell Investments Group Ltd. now owns 460,704 shares of the semiconductor company’s stock worth $23,178,000 after acquiring an additional 97,278 shares during the period. Creative Planning boosted its stake in shares of Kulicke and Soffa Industries by 127.2% during the 3rd quarter. Creative Planning now owns 25,864 shares of the semiconductor company’s stock valued at $1,167,000 after purchasing an additional 14,480 shares in the last quarter. Copeland Capital Management LLC boosted its position in Kulicke and Soffa Industries by 22.0% during the 3rd quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company’s stock valued at $66,319,000 after acquiring an additional 264,638 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Kulicke and Soffa Industries by 226.3% in the third quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 543 shares during the period. 98.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on KLIC shares. StockNews.com cut shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Tuesday. Craig Hallum decreased their target price on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, TD Cowen lowered their price target on Kulicke and Soffa Industries from $52.00 to $45.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kulicke and Soffa Industries currently has an average rating of “Hold” and an average price target of $47.33.

Kulicke and Soffa Industries Stock Down 2.1 %

Shares of KLIC opened at $47.05 on Thursday. Kulicke and Soffa Industries, Inc. has a 52 week low of $38.20 and a 52 week high of $56.71. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -45.61 and a beta of 1.38. The business has a 50-day simple moving average of $43.87 and a two-hundred day simple moving average of $45.35.

Kulicke and Soffa Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 1.74%. This is an increase from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s payout ratio is currently -76.92%.

Kulicke and Soffa Industries declared that its Board of Directors 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 purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.