Principal Financial Group Inc. Has $11.65 Million Stock Holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Principal Financial Group Inc. reduced its stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,186 shares of the semiconductor company's stock after selling 17,380 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Kulicke and Soffa Industries worth $11,652,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Kulicke and Soffa Industries by 1.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,735 shares of the semiconductor company's stock valued at $891,000 after purchasing an additional 250 shares during the period. Creative Planning boosted its position in shares of Kulicke and Soffa Industries by 3.4% during the second quarter. Creative Planning now owns 11,384 shares of the semiconductor company's stock worth $560,000 after purchasing an additional 372 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Kulicke and Soffa Industries by 137.5% in 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. Meritage Portfolio Management increased its position in shares of Kulicke and Soffa Industries by 9.4% in the 3rd quarter. Meritage Portfolio Management now owns 6,054 shares of the semiconductor company's stock valued at $273,000 after buying an additional 519 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Kulicke and Soffa Industries by 226.3% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company's stock worth $35,000 after buying an additional 543 shares during the period. 98.22% of the stock is owned by institutional investors.

Kulicke and Soffa Industries Stock Performance

NASDAQ KLIC traded down $1.26 during trading on Monday, hitting $46.50. The stock had a trading volume of 208,394 shares, compared to its average volume of 502,520. The company has a market capitalization of $2.51 billion, a PE ratio of -37.80 and a beta of 1.38. Kulicke and Soffa Industries, Inc. has a 12 month low of $38.20 and a 12 month high of $56.71. The company's 50-day moving average price is $47.59 and its two-hundred day moving average price is $45.73.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last issued its quarterly earnings results 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). 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 quarter in the previous year, the firm posted $0.51 earnings per share. The firm's quarterly revenue was down 10.4% on a year-over-year basis. As a group, equities analysts anticipate that Kulicke and Soffa Industries, Inc. will post 1.29 earnings per share for the current fiscal year.

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

Kulicke and Soffa Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th will be given a dividend of $0.205 per share. This is a positive change 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 dividend yield of 1.76%. Kulicke and Soffa Industries's payout ratio is -66.67%.

Insider Transactions at Kulicke and Soffa Industries

In other news, SVP Robert Nestor Chylak sold 11,391 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $49.52, for a total transaction of $564,082.32. Following the transaction, the senior vice president now owns 20,838 shares in the company, valued at approximately $1,031,897.76. This trade represents a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Chan Pin Chong sold 9,730 shares of Kulicke and Soffa Industries stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total value of $448,261.10. Following the sale, the executive vice president now directly owns 81,916 shares of the company's stock, valued at $3,773,870.12. This represents a 10.62 % 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 worth $10,527,843 in the last 90 days. Corporate insiders own 0.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Cowen increased their price target on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a "hold" rating in a report on Friday, November 15th. Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a report on Friday, November 15th. DA Davidson cut their price target on shares of 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. Finally, StockNews.com downgraded shares of Kulicke and Soffa Industries from a "hold" rating to a "sell" rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Kulicke and Soffa Industries has a consensus rating of "Hold" and an average 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.