Barclays PLC raised its position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 85.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 96,604 shares of the semiconductor company's stock after buying an additional 44,429 shares during the period. Barclays PLC owned about 0.18% of Kulicke and Soffa Industries worth $4,361,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James & Associates boosted its holdings in Kulicke and Soffa Industries by 12.8% in the second quarter. Raymond James & Associates now owns 33,970 shares of the semiconductor company's stock valued at $1,671,000 after acquiring an additional 3,849 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Kulicke and Soffa Industries by 12.2% during the second quarter. Bank of New York Mellon Corp now owns 671,675 shares of the semiconductor company's stock worth $33,040,000 after buying an additional 73,243 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Kulicke and Soffa Industries by 25.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,485 shares of the semiconductor company's stock valued at $958,000 after buying an additional 4,003 shares during the period. Innealta Capital LLC bought a new position in Kulicke and Soffa Industries in the second quarter valued at approximately $73,000. Finally, nVerses Capital LLC grew its holdings in Kulicke and Soffa Industries by 1,900.0% during the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the semiconductor company's stock worth $98,000 after acquiring an additional 1,900 shares during the period. 98.22% of the stock is owned by institutional investors and hedge funds.
Kulicke and Soffa Industries Stock Down 0.3 %
Shares of KLIC traded down $0.12 on Friday, hitting $46.95. The company's stock had a trading volume of 1,884,131 shares, compared to its average volume of 507,948. The firm's fifty day moving average price is $47.25 and its 200-day moving average price is $45.65. Kulicke and Soffa Industries, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $56.71. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -38.17 and a beta of 1.38.
Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last released 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). The company had revenue of $181.30 million during the quarter, compared to analyst estimates 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 firm's quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. 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 has authorized a stock repurchase plan on Wednesday, November 13th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the semiconductor company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.
Kulicke and Soffa Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.205 per share. This is a boost from Kulicke and Soffa Industries's previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, December 19th. Kulicke and Soffa Industries's dividend payout ratio is currently -66.67%.
Insider Transactions at Kulicke and Soffa Industries
In related news, SVP Nelson Munpun Wong sold 30,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $47.56, for a total transaction of $1,426,800.00. Following the completion of the transaction, the senior vice president now owns 177,533 shares in the company, valued at approximately $8,443,469.48. This represents a 14.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Chan Pin Chong sold 9,730 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $46.07, for a total transaction of $448,261.10. Following the completion of the transaction, the executive vice president now directly owns 81,916 shares of the company's stock, valued at approximately $3,773,870.12. This trade 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 valued at $10,527,843 over the last three months. Company insiders own 0.03% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. StockNews.com downgraded Kulicke and Soffa Industries from a "hold" rating to a "sell" rating in a research note on Wednesday, November 20th. DA Davidson reduced their target price on Kulicke and Soffa Industries from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, November 15th. TD Cowen increased their price target on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a "hold" rating in a research report 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 objective for the company 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $52.40.
Check Out Our Latest Report on KLIC
Kulicke and Soffa Industries Company Profile
(
Free Report)
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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