Victory Capital Management Inc. Decreases Holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Victory Capital Management Inc. lowered its stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,745,789 shares of the semiconductor company's stock after selling 220,424 shares during the quarter. Victory Capital Management Inc. owned 5.04% of Kulicke and Soffa Industries worth $123,917,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of KLIC. Vanguard Group Inc. boosted its position in Kulicke and Soffa Industries by 4.7% in the first quarter. Vanguard Group Inc. now owns 2,841,236 shares of the semiconductor company's stock worth $142,943,000 after purchasing an additional 128,026 shares during the last quarter. Copeland Capital Management LLC boosted its position in Kulicke and Soffa Industries by 22.0% during the third quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company's stock worth $66,319,000 after purchasing an additional 264,638 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Kulicke and Soffa Industries by 37.2% in the second 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 in the last quarter. Bank of New York Mellon Corp grew its stake in Kulicke and Soffa Industries by 12.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 671,675 shares of the semiconductor company's stock valued at $33,040,000 after buying an additional 73,243 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Kulicke and Soffa Industries by 26.8% in the first quarter. Russell Investments Group Ltd. now owns 460,704 shares of the semiconductor company's stock valued at $23,178,000 after purchasing an additional 97,278 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Trading Down 2.1 %

Shares of KLIC traded down $0.99 during trading hours on Wednesday, reaching $47.05. 575,144 shares of the company's stock traded hands, compared to its average volume of 492,386. Kulicke and Soffa Industries, Inc. has a 12 month low of $38.20 and a 12 month high of $56.71. The stock has a market cap of $2.56 billion, a PE ratio of -45.61 and a beta of 1.38. The firm's 50 day simple moving average is $43.87 and its 200-day simple moving average is $45.35.

Kulicke and Soffa Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th 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. This represents a $0.82 annualized dividend and a yield of 1.74%. Kulicke and Soffa Industries's payout ratio is presently -76.92%.

Kulicke and Soffa Industries declared that its Board of Directors has approved a stock repurchase plan on Wednesday, November 13th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

KLIC has been the topic of several analyst reports. StockNews.com cut Kulicke and Soffa Industries from a "hold" rating to a "sell" rating in a research report on Tuesday. Craig Hallum decreased their target price on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Finally, TD Cowen cut their price target on shares of Kulicke and Soffa Industries from $52.00 to $45.00 and set a "hold" rating for the company in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $47.33.

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.