Geode Capital Management LLC Reduces Stock Holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Geode Capital Management LLC lessened its holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,272,171 shares of the semiconductor company’s stock after selling 8,948 shares during the quarter. Geode Capital Management LLC owned 2.33% of Kulicke and Soffa Industries worth $57,424,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of KLIC. Advisors Asset Management Inc. raised its position in shares of Kulicke and Soffa Industries by 137.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 414 shares during the last quarter. Signaturefd LLC boosted its holdings 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 acquiring an additional 543 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kulicke and Soffa Industries in the third quarter worth $53,000. Innealta Capital LLC purchased a new position in shares of Kulicke and Soffa Industries during the second quarter worth $73,000. Finally, CWM LLC lifted its position in Kulicke and Soffa Industries by 101.8% during the third quarter. CWM LLC now owns 1,923 shares of the semiconductor company’s stock valued at $87,000 after purchasing an additional 970 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Insider Activity at Kulicke and Soffa Industries

In related news, CEO Fusen Ernie Chen sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $48.29, for a total transaction of $3,863,200.00. Following the sale, the chief executive officer now directly owns 1,100,765 shares of the company’s stock, valued at $53,155,941.85. This represents a 6.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Chan Pin Chong sold 9,730 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total transaction of $448,261.10. Following the completion of the transaction, the executive vice president now owns 81,916 shares of the company’s stock, valued at approximately $3,773,870.12. This trade represents a 10.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,121 shares of company stock worth $10,527,843. 0.03% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Needham & Company LLC raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, November 15th. StockNews.com cut Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. DA Davidson dropped their price objective on shares of 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. Finally, TD Cowen lifted their price target on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.40.

Kulicke and Soffa Industries Price Performance

NASDAQ KLIC opened at $46.95 on Monday. The stock has a market capitalization of $2.53 billion, a P/E ratio of -38.17 and a beta of 1.38. The firm’s 50-day moving average is $47.25 and its two-hundred day moving average is $45.65. Kulicke and Soffa Industries, Inc. has a 12 month low of $38.20 and a 12 month high of $56.71.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $181.30 million during the quarter, compared to analyst estimates of $180.03 million. Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. As a group, analysts anticipate that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

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

Kulicke and Soffa Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th will be given a dividend of $0.205 per share. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is currently -66.67%.

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.