Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,272,171 shares of the semiconductor company’s stock after selling 8,948 shares during the quarter. Geode Capital Management LLC’s holdings in Kulicke and Soffa Industries were worth $57,424,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in 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 purchasing an additional 250 shares during the period. Creative Planning raised its stake in shares of Kulicke and Soffa Industries by 3.4% during the 2nd quarter. Creative Planning now owns 11,384 shares of the semiconductor company’s stock worth $560,000 after buying an additional 372 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings 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 in the last quarter. Meritage Portfolio Management lifted its stake in Kulicke and Soffa Industries by 9.4% in the 3rd quarter. Meritage Portfolio Management now owns 6,054 shares of the semiconductor company’s stock valued at $273,000 after buying an additional 519 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of Kulicke and Soffa Industries by 226.3% in the third quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock valued at $35,000 after acquiring 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 Trading Down 0.3 %

Kulicke and Soffa Industries stock opened at $46.95 on Monday. 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 $2.53 billion, a P/E ratio of -38.17 and a beta of 1.38. The stock has a 50 day moving average of $47.25 and a 200-day moving average of $45.65.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted 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). The company had revenue of $181.30 million for the quarter, compared to the consensus estimate of $180.03 million. Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. As a group, equities analysts predict that Kulicke and Soffa Industries, Inc. will post 1.29 earnings per share for the current fiscal year.

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

Kulicke and Soffa Industries Increases Dividend

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

Insider Buying and Selling at Kulicke and Soffa Industries

In other news, EVP Chan Pin Chong sold 9,730 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total value of $448,261.10. Following the completion of the sale, the executive vice president now directly owns 81,916 shares in the company, valued at approximately $3,773,870.12. The trade was a 10.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Lester A. Wong sold 60,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $46.37, for a total value of $2,782,200.00. Following the transaction, the chief financial officer now owns 79,636 shares in the company, valued at $3,692,721.32. This trade represents a 42.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 221,121 shares of company stock worth $10,527,843 over the last quarter. 0.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

KLIC has been the topic of several analyst reports. TD Cowen raised their price objective on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 15th. StockNews.com lowered Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note 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 report on Friday, November 15th. Finally, DA Davidson decreased 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 note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $52.40.

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.