StockNews.com Upgrades Kulicke and Soffa Industries (NASDAQ:KLIC) to "Hold"

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

KLIC has been the subject of several other research reports. TD Cowen lifted 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. DA Davidson reduced 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, Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.40.

Kulicke and Soffa Industries Price Performance

Shares of KLIC traded up $0.02 during trading hours on Wednesday, hitting $44.35. 451,589 shares of the stock were exchanged, compared to its average volume of 383,646. The firm has a market capitalization of $2.38 billion, a P/E ratio of -36.06 and a beta of 1.37. Kulicke and Soffa Industries has a fifty-two week low of $38.20 and a fifty-two week high of $53.71. The business has a 50-day moving average of $47.43 and a 200-day moving average of $45.31.

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

Kulicke and Soffa Industries declared that its board has authorized a share buyback plan 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 plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Activity at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, EVP Chan Pin Chong sold 9,730 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.07, for a total value of $448,261.10. Following the completion of the sale, the executive vice president now directly owns 81,916 shares of the company's stock, valued at approximately $3,773,870.12. This represents a 10.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Chin Hu Lim sold 30,000 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $48.11, for a total transaction of $1,443,300.00. Following the completion of the sale, the director now owns 59,701 shares of the company's stock, valued at approximately $2,872,215.11. This trade represents a 33.44 % 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 90 days. Insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KLIC. Advisors Asset Management Inc. grew its position in Kulicke and Soffa Industries by 137.5% during the third 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 grew its position in shares of Kulicke and Soffa Industries by 226.3% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 543 shares during the period. GAMMA Investing LLC increased 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 last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Kulicke and Soffa Industries in the 3rd quarter worth approximately $53,000. Finally, CWM LLC lifted its stake in Kulicke and Soffa Industries by 101.8% in the third quarter. CWM LLC now owns 1,923 shares of the semiconductor company's stock valued at $87,000 after purchasing an additional 970 shares during the last quarter. Institutional investors 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.