Kulicke and Soffa Industries (NASDAQ:KLIC) Given New $50.00 Price Target at TD Cowen

Kulicke and Soffa Industries (NASDAQ:KLIC) had its target price hoisted by TD Cowen from $45.00 to $50.00 in a research note issued to investors on Friday morning, MarketBeat Ratings reports. They currently have a hold rating on the semiconductor company’s stock.

KLIC has been the topic of several other research reports. Needham & Company LLC raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Friday. Craig Hallum cut 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 note on Thursday, August 8th. Finally, StockNews.com cut shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. One 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $52.40.

Kulicke and Soffa Industries Price Performance

NASDAQ KLIC opened at $46.33 on Friday. The stock’s 50-day moving average is $44.27 and its 200-day moving average is $45.36. Kulicke and Soffa Industries has a one year low of $38.20 and a one year high of $56.71. The firm has a market cap of $2.53 billion, a P/E ratio of -37.55 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $181.30 million for the quarter, compared to analyst estimates of $180.03 million. Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.51 earnings per share. Equities analysts anticipate that Kulicke and Soffa Industries will post 1.32 EPS for the current year.

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

Kulicke and Soffa Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Thursday, December 19th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.82 dividend on an annualized basis and a yield of 1.77%. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is presently -65.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in Kulicke and Soffa Industries in the 1st quarter valued at $29,000. Advisors Asset Management Inc. raised its position in shares of Kulicke and Soffa Industries by 137.5% in the third quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 414 shares during the period. Signaturefd LLC lifted its stake 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 worth $35,000 after buying an additional 543 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Kulicke and Soffa Industries during the 3rd quarter worth about $53,000. Finally, Blue Trust Inc. grew its stake in Kulicke and Soffa Industries by 17,075.0% in the 2nd quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 1,366 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

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.