DA Davidson Cuts Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target to $60.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price target decreased by DA Davidson from $65.00 to $60.00 in a report released on Friday,Benzinga reports. DA Davidson currently has a buy rating on the semiconductor company’s stock. DA Davidson also issued estimates for Kulicke and Soffa Industries’ FY2025 earnings at $1.32 EPS.

Other equities analysts have also issued reports about the company. Craig Hallum reduced their price target on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. TD Cowen lifted their target price on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday. 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. Finally, StockNews.com lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kulicke and Soffa Industries presently has an average rating of “Hold” and a consensus price target of $52.40.

Kulicke and Soffa Industries Price Performance

Shares of NASDAQ KLIC opened at $46.19 on Friday. The stock has a market capitalization of $2.52 billion, a P/E ratio of -37.55 and a beta of 1.38. Kulicke and Soffa Industries has a one year low of $38.20 and a one year high of $56.71. The firm’s 50 day simple moving average is $44.27 and its two-hundred day simple moving average is $45.35.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. The business had revenue of $181.30 million during the quarter, compared to the consensus estimate of $180.03 million. During the same period in the prior year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities analysts expect that Kulicke and Soffa Industries will post 1.32 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Increases Dividend

The business 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. This is an increase from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date is Thursday, December 19th. Kulicke and Soffa Industries’s payout ratio is presently -65.04%.

Kulicke and Soffa Industries announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 13th that authorizes the company to buyback $300.00 million in outstanding 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 often a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in Kulicke and Soffa Industries by 37.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company’s stock valued at $52,918,000 after acquiring an additional 291,787 shares in the last quarter. Copeland Capital Management LLC grew its stake in Kulicke and Soffa Industries by 22.0% in 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. Royce & Associates LP raised its holdings in Kulicke and Soffa Industries by 20.3% in the third quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company’s stock worth $50,154,000 after purchasing an additional 187,673 shares in the last quarter. DDD Partners LLC purchased a new position in Kulicke and Soffa Industries during the second quarter valued at $8,163,000. Finally, Emerald Advisers LLC boosted its holdings in shares of Kulicke and Soffa Industries by 57.5% during the 2nd quarter. Emerald Advisers LLC now owns 443,002 shares of the semiconductor company’s stock valued at $21,791,000 after buying an additional 161,791 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

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.