Kulicke and Soffa Industries (NASDAQ:KLIC) Upgraded by Needham & Company LLC to Buy Rating

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) was upgraded by analysts at Needham & Company LLC from a "hold" rating to a "buy" rating in a research note issued to investors on Friday, MarketBeat reports. The brokerage presently has a $55.00 target price on the semiconductor company's stock. Needham & Company LLC's target price points to a potential upside of 19.07% from the stock's current price.

Several other brokerages have also issued reports on KLIC. Craig Hallum cut their target price on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. StockNews.com lowered shares of Kulicke and Soffa Industries from a "hold" rating to a "sell" rating in a research report on Tuesday. Finally, TD Cowen cut their target price on shares of Kulicke and Soffa Industries from $52.00 to $45.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $52.40.

Kulicke and Soffa Industries Stock Performance

Shares of KLIC stock traded up $0.58 during trading hours on Friday, reaching $46.19. The company had a trading volume of 1,366,997 shares, compared to its average volume of 500,819. The business has a fifty day moving average price of $44.12 and a 200-day moving average price of $45.37. Kulicke and Soffa Industries has a one year low of $38.20 and a one year high of $56.71. The firm has a market cap of $2.52 billion, a PE ratio of -37.40 and a beta of 1.38.

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

Hedge Funds Weigh In On Kulicke and Soffa Industries

Hedge funds have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of Kulicke and Soffa Industries in the first quarter worth approximately $29,000. Advisors Asset Management Inc. lifted its holdings in shares of Kulicke and Soffa Industries by 137.5% in the third quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company's stock worth $32,000 after buying an additional 414 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Kulicke and Soffa Industries by 226.3% in the third quarter. Signaturefd LLC now owns 783 shares of the semiconductor company's stock worth $35,000 after buying an additional 543 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Kulicke and Soffa Industries by 17,075.0% in the second quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company's stock worth $69,000 after buying an additional 1,366 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Kulicke and Soffa Industries in the second quarter worth $73,000. 98.22% of the stock is currently 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.