Kulicke and Soffa Industries (NASDAQ:KLIC) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Kulicke and Soffa Industries (NASDAQ:KLICGet Rating) from a sell rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports. They currently have $57.00 price objective on the semiconductor company’s stock.

According to Zacks, “Kulicke & Soffa is a leading provider of semiconductor packaging and electronic assembly solutions supporting the global automotive, consumer, communications, computing and industrial segments. As a pioneer in the semiconductor space, K&S has provided customers with market leading packaging solutions for decades. In recent years, K&S has expanded its product offerings through strategic acquisitions and organic development, adding advanced packaging, electronics assembly, wedge bonding and a broader range of expendable tools to its core offerings. Combined with its extensive expertise in process technology and focus on development, K&S is well positioned to help customers meet the challenges of packaging and assembling the next-generation of electronic devices. “

KLIC has been the subject of a number of other reports. Needham & Company LLC downgraded shares of Kulicke and Soffa Industries from a buy rating to a hold rating in a report on Friday, February 4th. StockNews.com downgraded shares of Kulicke and Soffa Industries from a buy rating to a hold rating in a report on Friday, May 6th. Finally, B. Riley downgraded shares of Kulicke and Soffa Industries from a buy rating to a neutral rating and lowered their target price for the company from $80.00 to $59.00 in a report on Tuesday, April 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kulicke and Soffa Industries currently has an average rating of Buy and a consensus target price of $76.40.

Shares of NASDAQ KLIC opened at $51.75 on Tuesday. The company has a market cap of $3.06 billion, a PE ratio of 6.58 and a beta of 1.30. Kulicke and Soffa Industries has a 12 month low of $44.63 and a 12 month high of $75.29. The company has a 50-day simple moving average of $53.18 and a 200-day simple moving average of $55.44.

Kulicke and Soffa Industries (NASDAQ:KLICGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The semiconductor company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.48. The business had revenue of $384.28 million during the quarter, compared to the consensus estimate of $380.25 million. Kulicke and Soffa Industries had a net margin of 28.33% and a return on equity of 46.89%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. As a group, analysts expect that Kulicke and Soffa Industries will post 7.22 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 11th. Shareholders of record on Thursday, March 24th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, March 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.31%. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is 8.65%.

Kulicke and Soffa Industries declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 3rd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 13.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

In other Kulicke and Soffa Industries news, EVP Chan Pin Chong sold 2,000 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $60.00, for a total transaction of $120,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.50% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. D Orazio & Associates Inc. acquired a new position in shares of Kulicke and Soffa Industries during the third quarter worth $25,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Kulicke and Soffa Industries during the fourth quarter worth $30,000. Prospera Financial Services Inc acquired a new position in shares of Kulicke and Soffa Industries during the first quarter worth $30,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Kulicke and Soffa Industries by 4,100.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 630 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 615 shares in the last quarter. Finally, Fieldpoint Private Securities LLC lifted its position in shares of Kulicke and Soffa Industries by 46.5% during the fourth quarter. Fieldpoint Private Securities LLC now owns 844 shares of the semiconductor company’s stock worth $51,000 after purchasing an additional 268 shares in the last quarter. 97.02% of the stock is currently owned by hedge funds and other institutional investors.

About Kulicke and Soffa Industries (Get Rating)

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through two segments, Capital Equipment, and Aftermarket Products and Services (APS). The company manufactures and sells advanced displays; die-transfer, flip-chip, and TCB advanced packaging products; ball bonder, die-attach, electronics assembly, lithography, wafer-level bonder, and wedge bonder products; consumables, such as capillaries, dicing blades, and wedge bonds; and auto offline programming, KNet PLUS, and new product introduction/manufacturing execution system software products.

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