JPMorgan Chase & Co. Sells 65,141 Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

JPMorgan Chase & Co. lessened its position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 18.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,879 shares of the semiconductor company's stock after selling 65,141 shares during the quarter. JPMorgan Chase & Co. owned about 0.53% of Kulicke and Soffa Industries worth $12,947,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of Kulicke and Soffa Industries by 85.2% during the 3rd quarter. Barclays PLC now owns 96,604 shares of the semiconductor company's stock worth $4,361,000 after purchasing an additional 44,429 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Kulicke and Soffa Industries during the 3rd quarter worth about $53,000. Kovitz Investment Group Partners LLC increased its holdings in shares of Kulicke and Soffa Industries by 27.8% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 88,712 shares of the semiconductor company's stock worth $3,977,000 after purchasing an additional 19,279 shares during the period. Stifel Financial Corp increased its holdings in shares of Kulicke and Soffa Industries by 32.4% during the 3rd quarter. Stifel Financial Corp now owns 48,328 shares of the semiconductor company's stock worth $2,181,000 after purchasing an additional 11,836 shares during the period. Finally, Systematic Financial Management LP increased its holdings in shares of Kulicke and Soffa Industries by 59.7% during the 3rd quarter. Systematic Financial Management LP now owns 140,269 shares of the semiconductor company's stock worth $6,330,000 after purchasing an additional 52,419 shares during the period. Institutional investors own 98.22% of the company's stock.

Kulicke and Soffa Industries Stock Performance

NASDAQ:KLIC traded down $1.33 during trading hours on Friday, hitting $46.21. The stock had a trading volume of 339,473 shares, compared to its average volume of 438,962. Kulicke and Soffa Industries, Inc. has a one year low of $38.20 and a one year high of $56.71. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -37.57 and a beta of 1.37. The business's 50 day moving average is $48.01 and its 200-day moving average is $45.74.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last issued 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). Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The firm had revenue of $181.30 million during the quarter, compared to the consensus estimate of $180.03 million. During the same period in the previous year, the company posted $0.51 EPS. The firm's revenue for the quarter was down 10.4% on a year-over-year basis. On average, sell-side analysts anticipate that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current fiscal year.

Kulicke and Soffa Industries declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 13th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the semiconductor company to repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Kulicke and Soffa Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Thursday, December 19th. This is a boost from Kulicke and Soffa Industries's previous quarterly dividend of $0.20. Kulicke and Soffa Industries's dividend payout ratio is -66.67%.

Insider Activity

In related news, EVP Chan Pin Chong sold 9,730 shares of the 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 owns 81,916 shares in the company, valued at approximately $3,773,870.12. This represents a 10.62 % 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, SVP Robert Nestor Chylak sold 11,391 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $49.52, for a total transaction of $564,082.32. Following the completion of the sale, the senior vice president now owns 20,838 shares of the company's stock, valued at approximately $1,031,897.76. This represents a 35.34 % 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 over the last quarter. 0.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. DA Davidson decreased their target price on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a "buy" rating on the stock in a research report on Friday, November 15th. StockNews.com upgraded shares of Kulicke and Soffa Industries from a "sell" rating to a "hold" rating in a research report on Thursday. TD Cowen lifted 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 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 target price on the stock in a research report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $52.40.

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.