Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target Raised to $50.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price target boosted by TD Cowen from $45.00 to $50.00 in a research report sent to investors on Friday morning, MarketBeat reports. They currently have a hold rating on the semiconductor company’s stock.

KLIC has been the topic of a number of other research reports. StockNews.com lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Tuesday. Craig Hallum cut their target price on shares of 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. 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 report on Friday. One investment 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 price target of $52.40.

Kulicke and Soffa Industries Price Performance

Shares of KLIC stock traded up $0.58 on Friday, hitting $46.19. The company’s stock had a trading volume of 1,366,997 shares, compared to its average volume of 500,819. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of -37.55 and a beta of 1.38. Kulicke and Soffa Industries has a fifty-two week low of $38.20 and a fifty-two week high of $56.71. The firm’s fifty day moving average price is $44.27 and its 200-day moving average price is $45.36.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released 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 return on equity of 0.90% and a negative net margin of 9.77%. The company had revenue of $181.30 million for the quarter, compared to the consensus estimate of $180.03 million. During the same quarter last year, the company posted $0.51 EPS. The business’s revenue was down 10.4% compared to the same quarter last year. Analysts predict that Kulicke and Soffa Industries will post 1.46 EPS for the current fiscal year.

Kulicke and Soffa Industries declared that its Board of Directors has approved a share buyback plan on Wednesday, November 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are 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 $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.78%. 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. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is currently -65.04%.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several hedge funds have recently made changes to their positions in KLIC. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kulicke and Soffa Industries by 1.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,735 shares of the semiconductor company’s stock valued at $891,000 after acquiring an additional 250 shares in the last quarter. Creative Planning raised its stake in shares of Kulicke and Soffa Industries by 3.4% in the second quarter. Creative Planning now owns 11,384 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 372 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Kulicke and Soffa Industries by 137.5% during the third quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock worth $32,000 after buying an additional 414 shares in the last quarter. Meritage Portfolio Management increased its holdings in 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 during the period. Finally, Signaturefd LLC raised its stake in shares of 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 buying an additional 543 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Kulicke and Soffa Industries Company 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.