Kulicke and Soffa Industries (NASDAQ:KLIC) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Kulicke and Soffa Industries (NASDAQ:KLIC - Free Report) from a sell rating to a hold rating in a report issued on Thursday morning.

A number of other research firms also recently issued reports on KLIC. DA Davidson dropped their price target on Kulicke and Soffa Industries from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. TD Cowen boosted their price target on 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $53.00 price objective on shares of Kulicke and Soffa Industries in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Kulicke and Soffa Industries Price Performance

NASDAQ KLIC traded down $0.13 during trading hours on Thursday, hitting $41.42. The company's stock had a trading volume of 642,401 shares, compared to its average volume of 510,768. Kulicke and Soffa Industries has a 12 month low of $38.20 and a 12 month high of $53.71. The company's 50 day simple moving average is $46.87 and its two-hundred day simple moving average is $45.06. The company has a market cap of $2.22 billion, a P/E ratio of 345.17 and a beta of 1.36.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last announced 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%. As a group, research analysts predict that Kulicke and Soffa Industries will post 1.24 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Increases Dividend

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

Kulicke and Soffa Industries announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, CEO Fusen Ernie Chen sold 80,000 shares of the company's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $48.29, for a total transaction of $3,863,200.00. Following the sale, the chief executive officer now owns 1,100,765 shares of the company's stock, valued at $53,155,941.85. This represents a 6.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Lester A. Wong sold 60,000 shares of Kulicke and Soffa Industries stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $46.37, for a total transaction of $2,782,200.00. Following the completion of the transaction, the chief financial officer now directly owns 79,636 shares of the company's stock, valued at $3,692,721.32. The trade was a 42.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 221,121 shares of company stock worth $10,527,843 over the last 90 days. Corporate insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its holdings in Kulicke and Soffa Industries by 137.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company's stock valued at $32,000 after buying an additional 414 shares during the period. Signaturefd LLC lifted its holdings in shares of Kulicke and Soffa Industries by 226.3% in the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company's stock worth $35,000 after acquiring an additional 543 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Kulicke and Soffa Industries by 61.0% during the 4th quarter. GAMMA Investing LLC now owns 1,021 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 387 shares during the period. Smartleaf Asset Management LLC grew its holdings in Kulicke and Soffa Industries by 397.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,149 shares of the semiconductor company's stock valued at $53,000 after purchasing an additional 918 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Kulicke and Soffa Industries in the 3rd quarter worth about $53,000. 98.22% of the stock is owned by 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.