Kulicke and Soffa Industries (NASDAQ:KLIC) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a hold rating to a sell rating in a report published on Tuesday.

Several other research firms have also issued reports on KLIC. TD Cowen cut their price target on 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. Craig Hallum cut their price target 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Kulicke and Soffa Industries presently has a consensus rating of “Hold” and a consensus price target of $52.40.

Kulicke and Soffa Industries Stock Performance

NASDAQ:KLIC opened at $46.19 on Tuesday. The stock has a 50-day simple moving average of $44.12 and a two-hundred day simple moving average of $45.37. Kulicke and Soffa Industries has a 52-week low of $38.20 and a 52-week high of $56.71. The firm has a market capitalization of $2.52 billion, a PE ratio of -37.55 and a beta of 1.38.

Kulicke and Soffa Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th will be paid a $0.205 dividend. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.78%. Kulicke and Soffa Industries’s dividend payout ratio is -65.04%.

Kulicke and Soffa Industries announced that its board has approved a share repurchase program on Wednesday, November 13th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Kulicke and Soffa Industries

A number of hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in Kulicke and Soffa Industries during the first quarter valued at approximately $29,000. Advisors Asset Management Inc. raised its holdings in shares of Kulicke and Soffa Industries by 137.5% in 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 during the period. Signaturefd LLC raised its holdings in shares of Kulicke and Soffa Industries by 226.3% in the third quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after buying an additional 543 shares during the period. Public Employees Retirement System of Ohio bought a new position in Kulicke and Soffa Industries in the third quarter worth approximately $53,000. Finally, Blue Trust Inc. grew its stake 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 worth $69,000 after purchasing an additional 1,366 shares in the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.