Assetmark Inc. Purchases 2,968 Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Assetmark Inc. increased its holdings in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,081 shares of the semiconductor company’s stock after acquiring an additional 2,968 shares during the period. Assetmark Inc.’s holdings in Kulicke and Soffa Industries were worth $1,087,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KLIC. Olstein Capital Management L.P. grew its holdings in shares of Kulicke and Soffa Industries by 22.6% during the third 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. Olympiad Research LP acquired a new position in Kulicke and Soffa Industries during the 3rd quarter worth about $370,000. Emerald Advisers LLC lifted its position in Kulicke and Soffa Industries by 2.2% during the 3rd quarter. Emerald Advisers LLC now owns 452,945 shares of the semiconductor company’s stock worth $20,441,000 after buying an additional 9,943 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in Kulicke and Soffa Industries by 156.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 35,958 shares of the semiconductor company’s stock valued at $1,623,000 after acquiring an additional 21,946 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Kulicke and Soffa Industries by 14.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,249 shares of the semiconductor company’s stock valued at $327,000 after acquiring an additional 907 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Kulicke and Soffa Industries Price Performance

Shares of NASDAQ:KLIC opened at $45.61 on Friday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -45.67 and a beta of 1.38. The company has a 50 day moving average of $44.00 and a 200-day moving average of $45.36. Kulicke and Soffa Industries, Inc. has a one year low of $38.20 and a one year high of $56.71.

Kulicke and Soffa Industries declared that its board has authorized a share buyback plan on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Kulicke and Soffa Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.80%. 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 currently -76.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KLIC. StockNews.com lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Tuesday. Craig Hallum reduced their price objective on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, TD Cowen lowered their target price on Kulicke and Soffa Industries from $52.00 to $45.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.33.

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.