Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its position in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 2.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,044,280 shares of the semiconductor company's stock after selling 31,510 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.92% of Kulicke and Soffa Industries worth $47,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its position in shares of 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 worth $32,000 after purchasing an additional 414 shares during the last quarter. Signaturefd LLC increased its holdings in Kulicke and Soffa Industries by 226.3% in the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company's stock valued at $35,000 after purchasing an additional 543 shares during the last quarter. Blue Trust Inc. raised its position in 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 valued at $69,000 after purchasing an additional 1,366 shares during the period. Innealta Capital LLC acquired a new position in Kulicke and Soffa Industries during the 2nd quarter worth about $73,000. Finally, CWM LLC lifted its position in shares of Kulicke and Soffa Industries by 101.8% during the third quarter. CWM LLC now owns 1,923 shares of the semiconductor company's stock worth $87,000 after purchasing an additional 970 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.

Analyst Ratings Changes

KLIC has been the topic of several analyst reports. TD Cowen increased their price objective 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. StockNews.com downgraded Kulicke and Soffa Industries from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. Needham & Company LLC upgraded 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. DA Davidson lowered their price target on 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, Craig Hallum dropped their price target on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $52.40.

Insider Transactions at Kulicke and Soffa Industries

In other news, EVP Chan Pin Chong sold 9,730 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total transaction of $448,261.10. Following the completion of the sale, the executive vice president now owns 81,916 shares in the company, valued at $3,773,870.12. This represents a 10.62 % 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, SVP Nelson Munpun Wong sold 30,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $47.56, for a total value of $1,426,800.00. Following the sale, the senior vice president now directly owns 177,533 shares of the company's stock, valued at approximately $8,443,469.48. This represents a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,730 shares of company stock worth $4,657,261. Company insiders own 0.03% of the company's stock.

Kulicke and Soffa Industries Trading Up 2.1 %

NASDAQ:KLIC traded up $1.01 during mid-day trading on Friday, reaching $48.42. 271,391 shares of the stock were exchanged, compared to its average volume of 504,466. Kulicke and Soffa Industries, Inc. has a 1 year low of $38.20 and a 1 year high of $56.71. The company has a 50 day simple moving average of $45.63 and a 200-day simple moving average of $45.41.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last announced its earnings results 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 return on equity of 0.92% and a negative net margin of 9.77%. The business had revenue of $181.30 million for the quarter, compared to analysts' expectations of $180.03 million. During the same quarter last year, the business posted $0.51 earnings per share. The business's revenue was down 10.4% on a year-over-year basis. On average, research analysts anticipate that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

Kulicke and Soffa Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, January 7th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.69%. This is a boost from Kulicke and Soffa Industries's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 19th. Kulicke and Soffa Industries's dividend payout ratio is presently -65.04%.

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

Kulicke and Soffa Industries 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.