Kulicke and Soffa Industries (NASDAQ:KLIC) Reaches New 12-Month Low - Here's Why

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Get Free Report) shares reached a new 52-week low on Thursday . The company traded as low as $37.77 and last traded at $37.80, with a volume of 621923 shares. The stock had previously closed at $40.31.

Analyst Ratings Changes

KLIC has been the subject of a number of recent research reports. TD Cowen boosted their price target on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a "hold" rating in a research note on Friday, November 15th. Needham & Company LLC reissued a "buy" rating and set a $53.00 price target on shares of Kulicke and Soffa Industries in a research note on Thursday, February 6th. StockNews.com raised shares of Kulicke and Soffa Industries from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Finally, DA Davidson dropped 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 research note on Friday, November 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Kulicke and Soffa Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.00.

Kulicke and Soffa Industries Price Performance

The stock has a market cap of $2.04 billion, a P/E ratio of 318.92 and a beta of 1.36. The company's 50 day simple moving average is $44.42 and its 200 day simple moving average is $44.84.

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%. On average, equities research analysts predict that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current year.

Kulicke and Soffa Industries declared that its board has authorized a stock buyback plan on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, Director Chin Hu Lim sold 30,000 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $48.11, for a total value of $1,443,300.00. Following the completion of the transaction, the director now owns 59,701 shares in the company, valued at $2,872,215.11. This represents a 33.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Nestor Chylak sold 11,391 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now owns 20,838 shares of the company's stock, valued at $1,031,897.76. This trade represents a 35.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,391 shares of company stock worth $5,870,582 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Total Wealth Planning & Management Inc. acquired a new position in Kulicke and Soffa Industries during the fourth quarter worth $404,000. Menard Financial Group LLC acquired a new position in Kulicke and Soffa Industries during the fourth quarter worth $54,000. Mackenzie Financial Corp boosted its holdings in Kulicke and Soffa Industries by 212.5% during the fourth quarter. Mackenzie Financial Corp now owns 27,798 shares of the semiconductor company's stock worth $1,297,000 after purchasing an additional 18,904 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new position in Kulicke and Soffa Industries during the fourth quarter worth $443,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Kulicke and Soffa Industries by 17.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 144,320 shares of the semiconductor company's stock worth $6,734,000 after purchasing an additional 21,628 shares during the last quarter. Institutional investors and hedge funds 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.