Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) CFO Lester A. Wong Sells 60,000 Shares

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Get Free Report) CFO Lester A. Wong sold 60,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $46.37, for a total value of $2,782,200.00. Following the completion of the sale, the chief financial officer now directly owns 79,636 shares in the company, valued at approximately $3,692,721.32. This represents a 42.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Kulicke and Soffa Industries Price Performance

NASDAQ KLIC traded up $0.71 during trading hours on Friday, hitting $49.17. The company's stock had a trading volume of 442,972 shares, compared to its average volume of 502,969. Kulicke and Soffa Industries, Inc. has a 12 month low of $38.20 and a 12 month high of $56.71. The company's 50 day simple moving average is $44.88 and its two-hundred day simple moving average is $45.38. The company has a market cap of $2.65 billion, a P/E ratio of -39.40 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The company had revenue of $181.30 million for the quarter, compared to the consensus estimate of $180.03 million. During the same quarter last year, the firm posted $0.51 earnings per share. The company's revenue was down 10.4% compared to the same quarter last year. As a group, research analysts predict that Kulicke and Soffa Industries, Inc. will post 1.32 earnings per share for the current fiscal year.

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 buy up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Kulicke and Soffa Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.82 annualized dividend and a dividend yield of 1.67%. 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 -65.04%.

Analysts Set New Price Targets

KLIC has been the topic of several recent analyst reports. DA Davidson dropped their price target on Kulicke and Soffa Industries from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. StockNews.com downgraded shares of Kulicke and Soffa Industries from a "hold" rating to a "sell" rating in a report on Wednesday. Craig Hallum lowered their price target on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. TD Cowen raised their target price on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a "hold" rating in a research note on Friday, November 15th. Finally, Needham & Company LLC upgraded 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 research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $52.40.

Hedge Funds Weigh In On Kulicke and Soffa Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in 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 buying an additional 414 shares during the last quarter. Signaturefd LLC grew its stake 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 buying an additional 543 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Kulicke and Soffa Industries during the 3rd quarter worth $53,000. Blue Trust Inc. boosted its position in shares of Kulicke and Soffa Industries by 17,075.0% during the 2nd quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company's stock worth $69,000 after acquiring an additional 1,366 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Kulicke and Soffa Industries in the 2nd quarter valued at about $73,000. Institutional investors own 98.22% of the company's stock.

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.

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