Kulicke and Soffa Industries (NASDAQ:KLIC) Upgraded at StockNews.com

Kulicke and Soffa Industries (NASDAQ:KLIC) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other research analysts have also issued reports on KLIC. DA Davidson lowered their target price on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Needham & Company LLC raised shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Friday, November 15th. Finally, TD Cowen increased their target price on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.40.

Kulicke and Soffa Industries Trading Up 1.0 %

Kulicke and Soffa Industries stock opened at $44.33 on Wednesday. Kulicke and Soffa Industries has a 52 week low of $38.20 and a 52 week high of $53.71. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -36.04 and a beta of 1.37. The company’s 50-day moving average price is $47.61 and its two-hundred day moving average price is $45.43.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 EPS 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 period in the previous year, the firm earned $0.51 EPS. Kulicke and Soffa Industries’s revenue for the quarter was down 10.4% on a year-over-year basis. Research analysts expect that Kulicke and Soffa Industries will post 1.29 earnings per share for the current fiscal year.

Kulicke and Soffa Industries declared that its board has authorized a stock 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 purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Kulicke and Soffa Industries news, SVP Nelson Munpun Wong sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $47.56, for a total transaction of $1,426,800.00. Following the completion of the sale, the senior vice president now directly owns 177,533 shares in the company, valued at approximately $8,443,469.48. This trade represents a 14.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Robert Nestor Chylak sold 11,391 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were 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 represents a 35.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,121 shares of company stock worth $10,527,843 over the last 90 days. 0.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC boosted its stake in shares of Kulicke and Soffa Industries by 2.3% during the 4th quarter. Copeland Capital Management LLC now owns 1,502,640 shares of the semiconductor company’s stock valued at $70,113,000 after buying an additional 33,124 shares during the period. Royce & Associates LP raised its holdings in shares of Kulicke and Soffa Industries by 20.3% during the third quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company’s stock worth $50,154,000 after acquiring an additional 187,673 shares in the last quarter. Emerald Advisers LLC boosted its position in Kulicke and Soffa Industries by 2.2% during the third quarter. Emerald Advisers LLC now owns 452,945 shares of the semiconductor company’s stock valued at $20,441,000 after purchasing an additional 9,943 shares during the last quarter. Wasatch Advisors LP grew its stake in Kulicke and Soffa Industries by 10.8% in the third quarter. Wasatch Advisors LP now owns 398,225 shares of the semiconductor company’s stock valued at $17,972,000 after purchasing an additional 38,655 shares in the last quarter. Finally, Olstein Capital Management L.P. increased its position in Kulicke and Soffa Industries by 22.6% in the 3rd quarter. Olstein Capital Management L.P. now owns 246,405 shares of the semiconductor company’s stock worth $11,120,000 after purchasing an additional 45,405 shares during the last quarter. 98.22% of the stock is owned by hedge funds and other 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.