Kulicke and Soffa Industries (NASDAQ:KLIC) Stock Rating Upgraded by StockNews.com

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Monday.

Several other equities analysts also recently issued reports on the stock. TD Cowen upped 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 research note on Friday, November 15th. Needham & Company LLC raised Kulicke and Soffa Industries from a "hold" rating to a "buy" rating and set a $55.00 price target on the stock in a research note on Friday, November 15th. Finally, DA Davidson lowered their price objective on Kulicke and Soffa Industries from $65.00 to $60.00 and set a "buy" rating for the company in a research 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 data from MarketBeat.com, Kulicke and Soffa Industries presently has an average rating of "Moderate Buy" and an average price target of $52.40.

Kulicke and Soffa Industries Price Performance

Kulicke and Soffa Industries stock traded down $1.26 during mid-day trading on Monday, hitting $46.50. 208,394 shares of the company were exchanged, compared to its average volume of 502,520. Kulicke and Soffa Industries has a 12-month low of $38.20 and a 12-month high of $56.71. The company has a market capitalization of $2.51 billion, a P/E ratio of -37.80 and a beta of 1.38. The business's 50 day simple moving average is $47.59 and its two-hundred day simple moving average is $45.73.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). The company had revenue of $181.30 million for the quarter, compared to analysts' expectations of $180.03 million. Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. The company's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 EPS. Equities research analysts predict that Kulicke and Soffa Industries will post 1.29 earnings per share for the current year.

Kulicke and Soffa Industries announced that its Board of Directors has initiated a share buyback program on Wednesday, November 13th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 11.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Kulicke and Soffa Industries

In related news, EVP Chan Pin Chong sold 9,730 shares of the firm's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total transaction of $448,261.10. Following the sale, the executive vice president now directly owns 81,916 shares in the company, valued at approximately $3,773,870.12. This trade represents a 10.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Nelson Munpun Wong sold 30,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 177,533 shares of the company's stock, valued at $8,443,469.48. This trade represents a 14.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 221,121 shares of company stock valued at $10,527,843 over the last ninety days. Corporate insiders own 0.03% of the company's stock.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several hedge funds and other institutional investors have recently bought and sold shares of KLIC. Copeland Capital Management LLC raised its stake in shares of Kulicke and Soffa Industries by 22.0% in the 3rd quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company's stock valued at $66,319,000 after purchasing an additional 264,638 shares in the last quarter. Royce & Associates LP lifted its holdings in Kulicke and Soffa Industries by 20.3% during the 3rd quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company's stock worth $50,154,000 after buying an additional 187,673 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Kulicke and Soffa Industries by 37.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company's stock worth $52,918,000 after acquiring an additional 291,787 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Kulicke and Soffa Industries by 12.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 671,675 shares of the semiconductor company's stock valued at $33,040,000 after acquiring an additional 73,243 shares in the last quarter. Finally, Emerald Advisers LLC raised its position in shares of Kulicke and Soffa Industries by 2.2% during the 3rd quarter. Emerald Advisers LLC now owns 452,945 shares of the semiconductor company's stock valued at $20,441,000 after acquiring an additional 9,943 shares in the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.

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