Principal Financial Group Inc. Lowers Holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Principal Financial Group Inc. lessened its stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 258,186 shares of the semiconductor company's stock after selling 17,380 shares during the period. Principal Financial Group Inc. owned 0.47% of Kulicke and Soffa Industries worth $11,652,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KLIC. Vanguard Group Inc. lifted its stake in shares of Kulicke and Soffa Industries by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 2,841,236 shares of the semiconductor company's stock worth $142,943,000 after acquiring an additional 128,026 shares during the period. Copeland Capital Management LLC boosted its holdings in 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. The Manufacturers Life Insurance Company increased its position in Kulicke and Soffa Industries by 37.2% during 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 purchasing an additional 291,787 shares during the period. Bank of New York Mellon Corp raised its stake 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 worth $33,040,000 after buying an additional 73,243 shares in the last quarter. Finally, Emerald Advisers LLC lifted its holdings in shares of Kulicke and Soffa Industries by 2.2% in the 3rd quarter. Emerald Advisers LLC now owns 452,945 shares of the semiconductor company's stock valued at $20,441,000 after buying an additional 9,943 shares during the period. 98.22% of the stock is owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Price Performance

KLIC traded up $0.14 during midday trading on Monday, reaching $46.33. 721,310 shares of the company's stock were exchanged, compared to its average volume of 501,807. Kulicke and Soffa Industries, Inc. has a 1-year low of $38.20 and a 1-year high of $56.71. The stock has a market capitalization of $2.53 billion, a PE ratio of -37.55 and a beta of 1.38. The business's 50-day moving average price is $44.27 and its 200 day moving average price is $45.36.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $181.30 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. As a group, analysts expect that Kulicke and Soffa Industries, Inc. will post 1.32 EPS for the current fiscal year.

Kulicke and Soffa Industries announced that its board has approved a stock 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 shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Kulicke and Soffa Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Thursday, December 19th will be paid a $0.205 dividend. This is an increase from Kulicke and Soffa Industries's previous quarterly dividend of $0.20. The ex-dividend date is Thursday, December 19th. This represents a $0.82 annualized dividend and a yield of 1.77%. Kulicke and Soffa Industries's payout ratio is presently -65.04%.

Analyst Ratings Changes

Several research analysts have issued reports on KLIC shares. Craig Hallum cut their price objective on 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 downgraded shares of Kulicke and Soffa Industries from a "hold" rating to a "sell" rating in a report on Tuesday, November 12th. DA Davidson decreased their price objective on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Friday. TD Cowen upped their target price on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday. 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 target for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $52.40.

About Kulicke and Soffa Industries

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.