Needham & Company LLC Reiterates "Buy" Rating for Kulicke and Soffa Industries (NASDAQ:KLIC)

Needham & Company LLC reissued their buy rating on shares of Kulicke and Soffa Industries (NASDAQ:KLIC - Free Report) in a report released on Thursday morning,Benzinga reports. The brokerage currently has a $53.00 price objective on the semiconductor company's stock.

Other equities research analysts also recently issued reports about the stock. StockNews.com raised shares of Kulicke and Soffa Industries from a "sell" rating to a "hold" rating in a report on Wednesday, January 29th. DA Davidson cut their price target on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a "buy" rating for the company in a report on Friday, November 15th. Finally, TD Cowen increased their price objective on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $52.00.

Kulicke and Soffa Industries Trading Down 0.3 %

Shares of NASDAQ KLIC traded down $0.13 during midday trading on Thursday, hitting $41.42. The company's stock had a trading volume of 642,399 shares, compared to its average volume of 506,574. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 345.17 and a beta of 1.36. The stock has a fifty day moving average price of $46.87 and a 200 day moving average price of $45.06. Kulicke and Soffa Industries has a one year low of $38.20 and a one year high of $53.71.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). Kulicke and Soffa Industries had a negative return on equity of 1.26% and a net margin of 0.48%. On average, equities research analysts predict that Kulicke and Soffa Industries will post 1.24 earnings per share for the current fiscal year.

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

Kulicke and Soffa Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Thursday, December 19th were given a $0.205 dividend. This is an increase from Kulicke and Soffa Industries's previous quarterly dividend of $0.20. The ex-dividend date was Thursday, December 19th. This represents a $0.82 dividend on an annualized basis and a yield of 1.98%. Kulicke and Soffa Industries's payout ratio is presently 683.33%.

Insider Activity

In related news, EVP Chan Pin Chong sold 9,730 shares of Kulicke and Soffa Industries stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $46.07, for a total value of $448,261.10. Following the transaction, the executive vice president now directly owns 81,916 shares of the company's stock, valued at $3,773,870.12. The trade was a 10.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 sale, the senior vice president now directly owns 20,838 shares of the company's stock, valued at $1,031,897.76. The trade was a 35.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,121 shares of company stock valued at $10,527,843. Corporate insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its position in Kulicke and Soffa Industries by 418.5% during the 2nd quarter. Millennium Management LLC now owns 69,211 shares of the semiconductor company's stock valued at $3,404,000 after purchasing an additional 55,862 shares during the period. Algert Global LLC bought a new position in shares of Kulicke and Soffa Industries in the 2nd quarter worth approximately $279,000. Creative Planning raised its holdings in Kulicke and Soffa Industries by 3.4% in the second quarter. Creative Planning now owns 11,384 shares of the semiconductor company's stock worth $560,000 after purchasing an additional 372 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Kulicke and Soffa Industries by 56.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,741 shares of the semiconductor company's stock worth $135,000 after acquiring an additional 990 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Kulicke and Soffa Industries by 41.8% in the 3rd quarter. SG Americas Securities LLC now owns 13,216 shares of the semiconductor company's stock worth $596,000 after purchasing an additional 3,897 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

About Kulicke and Soffa Industries

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.