Kulicke and Soffa Industries (NASDAQ:KLIC) Sets New 52-Week Low - What's Next?

Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Get Free Report) hit a new 52-week low during trading on Tuesday . The stock traded as low as $35.95 and last traded at $36.19, with a volume of 646883 shares. The stock had previously closed at $38.05.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $53.00 target price on shares of Kulicke and Soffa Industries in a report on Thursday, February 6th. TD Cowen boosted their price objective on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a "hold" rating in a report on Friday, November 15th. StockNews.com raised shares of Kulicke and Soffa Industries from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Finally, DA Davidson cut their price objective 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. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Kulicke and Soffa Industries presently has an average rating of "Moderate Buy" and a consensus price target of $52.00.

Kulicke and Soffa Industries Trading Down 0.8 %

The firm's 50-day moving average price is $42.47 and its 200 day moving average price is $44.42. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 296.58 and a beta of 1.38.

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Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). Kulicke and Soffa Industries had a net margin of 0.48% and a negative return on equity of 1.26%. As a group, equities research analysts anticipate that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 8th. Investors of record on Thursday, March 20th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, March 20th. Kulicke and Soffa Industries's dividend payout ratio is 683.33%.

Kulicke and Soffa Industries declared that its board has initiated a share buyback program on Wednesday, November 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 11.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Kulicke and Soffa Industries

A number of institutional investors have recently added to or reduced their stakes in KLIC. The Manufacturers Life Insurance Company increased its position in Kulicke and Soffa Industries by 68.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,762,112 shares of the semiconductor company's stock worth $82,220,000 after purchasing an additional 717,832 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Kulicke and Soffa Industries in the 4th quarter valued at approximately $24,109,000. Point72 Asset Management L.P. acquired a new position in Kulicke and Soffa Industries in the 4th quarter valued at approximately $22,134,000. Millennium Management LLC increased its position in Kulicke and Soffa Industries by 286.1% in the 4th quarter. Millennium Management LLC now owns 423,208 shares of the semiconductor company's stock valued at $19,747,000 after acquiring an additional 313,595 shares during the period. Finally, Royce & Associates LP increased its position in Kulicke and Soffa Industries by 20.3% in the 3rd quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company's stock valued at $50,154,000 after acquiring an additional 187,673 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

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.