Kulicke and Soffa Industries (NASDAQ:KLIC) Share Price Passes Above 200 Day Moving Average – What’s Next?

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $45.73 and traded as high as $48.89. Kulicke and Soffa Industries shares last traded at $47.51, with a volume of 778,387 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. DA Davidson decreased 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. TD Cowen increased their price target on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 15th. Needham & Company LLC upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, November 15th. Finally, StockNews.com upgraded Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research note on Monday, December 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.40.

Kulicke and Soffa Industries Price Performance

The firm has a fifty day simple moving average of $47.88 and a two-hundred day simple moving average of $45.73. The firm has a market capitalization of $2.56 billion, a P/E ratio of -38.63 and a beta of 1.37.

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 firm had revenue of $181.30 million for the quarter, compared to the consensus estimate of $180.03 million. During the same quarter in the previous year, the company posted $0.51 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. On average, research analysts anticipate that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

Kulicke and Soffa Industries Increases Dividend

The firm 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 $0.205 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.82 annualized dividend and a dividend yield of 1.73%. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s payout ratio is -66.67%.

Kulicke and Soffa Industries declared that its board has approved a stock buyback program on Wednesday, November 13th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the semiconductor company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, SVP Robert Nestor Chylak sold 11,391 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $49.52, for a total value of $564,082.32. Following the completion of the transaction, the senior vice president now owns 20,838 shares in the company, valued at $1,031,897.76. This trade represents a 35.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nelson Munpun Wong sold 30,000 shares of Kulicke and Soffa Industries stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $47.56, for a total value of $1,426,800.00. Following the transaction, the senior vice president now directly owns 177,533 shares of the company’s stock, valued at $8,443,469.48. The trade was a 14.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,121 shares of company stock worth $10,527,843. Corporate insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On Kulicke and Soffa Industries

A number of large investors have recently modified their holdings of KLIC. Advisors Asset Management Inc. increased its holdings in Kulicke and Soffa Industries by 137.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 414 shares during the period. Signaturefd LLC grew its position in shares of Kulicke and Soffa Industries by 226.3% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 543 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Kulicke and Soffa Industries by 61.0% in the fourth quarter. GAMMA Investing LLC now owns 1,021 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 387 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Kulicke and Soffa Industries in the third quarter worth $53,000. Finally, CWM LLC raised its position in shares of Kulicke and Soffa Industries by 101.8% in the third quarter. CWM LLC now owns 1,923 shares of the semiconductor company’s stock worth $87,000 after buying an additional 970 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors.

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.