Wasatch Advisors LP grew its stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 398,225 shares of the semiconductor company's stock after purchasing an additional 38,655 shares during the period. Wasatch Advisors LP owned about 0.73% of Kulicke and Soffa Industries worth $17,972,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of KLIC. Vanguard Group Inc. boosted 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 valued at $142,943,000 after purchasing an additional 128,026 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Kulicke and Soffa Industries during the 1st quarter valued at approximately $195,000. Harbor Capital Advisors Inc. boosted its position in shares of Kulicke and Soffa Industries by 297.1% in the second quarter. Harbor Capital Advisors Inc. now owns 14,012 shares of the semiconductor company's stock valued at $689,000 after acquiring an additional 10,483 shares during the period. AlphaMark Advisors LLC bought a new stake in Kulicke and Soffa Industries during the second quarter valued at $340,000. Finally, Blue Trust Inc. grew its stake in Kulicke and Soffa Industries by 17,075.0% in the 2nd 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. Institutional investors own 98.22% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on KLIC. DA Davidson lowered their target price on Kulicke and Soffa Industries from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Friday, November 15th. TD Cowen increased their target price on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a "hold" rating in a research note on Friday, November 15th. Needham & Company LLC raised 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, November 15th. Craig Hallum reduced their price objective on Kulicke and Soffa Industries from $55.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, StockNews.com lowered Kulicke and Soffa Industries from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $52.40.
Check Out Our Latest Stock Analysis on KLIC
Insider Activity at Kulicke and Soffa Industries
In related news, EVP Chan Pin Chong sold 9,730 shares of Kulicke and Soffa Industries stock in a transaction dated Tuesday, November 19th. The shares were 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 trade represents a 10.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Lester A. Wong sold 60,000 shares of Kulicke and Soffa Industries stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $46.37, for a total value of $2,782,200.00. Following the completion of the sale, the chief financial officer now owns 79,636 shares of the company's stock, valued at $3,692,721.32. The trade was a 42.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,730 shares of company stock valued at $4,657,261. Insiders own 0.03% of the company's stock.
Kulicke and Soffa Industries Stock Performance
Shares of KLIC traded up $1.01 during mid-day trading on Friday, reaching $48.42. The stock had a trading volume of 271,414 shares, compared to its average volume of 664,080. Kulicke and Soffa Industries, Inc. has a 12 month low of $38.20 and a 12 month high of $56.71. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -39.37 and a beta of 1.38. The business has a fifty day moving average of $45.77 and a 200 day moving average of $45.37.
Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last released 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 the consensus estimate of $180.03 million. Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The company's quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, research analysts forecast that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current fiscal year.
Kulicke and Soffa Industries Increases Dividend
The firm also recently disclosed 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. The ex-dividend date is Thursday, December 19th. This represents a $0.82 annualized dividend and a yield of 1.69%. This is a positive change from Kulicke and Soffa Industries's previous quarterly dividend of $0.20. Kulicke and Soffa Industries's dividend payout ratio (DPR) is -65.04%.
Kulicke and Soffa Industries announced that its board has approved a share repurchase program on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.
Kulicke and Soffa Industries Company Profile
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Free Report)
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.
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