Kulicke and Soffa Industries (NASDAQ:KLIC) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a hold rating to a sell rating in a research report report published on Friday morning.

Other analysts also recently issued research reports about the stock. Needham & Company LLC raised shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, November 15th. DA Davidson cut 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 increased their price target on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 15th. 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.com, Kulicke and Soffa Industries presently has an average rating of “Hold” and an average target price of $52.40.

Kulicke and Soffa Industries Stock Up 1.3 %

Shares of NASDAQ KLIC opened at $47.33 on Friday. The firm has a market cap of $2.55 billion, a P/E ratio of -38.48 and a beta of 1.37. Kulicke and Soffa Industries has a twelve month low of $38.20 and a twelve month high of $56.71. The company has a 50 day moving average of $47.86 and a 200 day moving average of $45.66.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted 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 business had revenue of $181.30 million during the quarter, compared to analysts’ expectations of $180.03 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities analysts expect that Kulicke and Soffa Industries will post 1.29 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th were given a $0.205 dividend. The ex-dividend date was Thursday, December 19th. This is an increase from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 1.73%. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is presently -66.67%.

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

Insider Transactions at Kulicke and Soffa Industries

In other news, CEO Fusen Ernie Chen sold 80,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $48.29, for a total value of $3,863,200.00. Following the transaction, the chief executive officer now owns 1,100,765 shares of the company’s stock, valued at approximately $53,155,941.85. The trade was a 6.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Chan Pin Chong sold 9,730 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total transaction of $448,261.10. Following the transaction, the executive vice president now owns 81,916 shares of the company’s stock, valued at approximately $3,773,870.12. This represents a 10.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 221,121 shares of company stock worth $10,527,843 in the last three months. Corporate insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its holdings in Kulicke and Soffa Industries by 137.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 414 shares in the last quarter. Signaturefd LLC grew its holdings 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 purchasing an additional 543 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Kulicke and Soffa Industries by 61.0% in the fourth quarter. GAMMA Investing LLC now owns 1,021 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 387 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Kulicke and Soffa Industries in the third quarter worth $53,000. Finally, CWM LLC raised its stake in Kulicke and Soffa Industries by 101.8% during the third quarter. CWM LLC now owns 1,923 shares of the semiconductor company’s stock valued at $87,000 after purchasing an additional 970 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

Kulicke and Soffa Industries Company 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.