Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target Raised to $50.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price target lifted by TD Cowen from $45.00 to $50.00 in a report published on Friday, Marketbeat Ratings reports. TD Cowen currently has a hold rating on the semiconductor company’s stock.

A number of other brokerages have also issued reports on KLIC. StockNews.com lowered Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Craig Hallum decreased their price objective on shares of 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, Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.40.

Kulicke and Soffa Industries Stock Up 1.3 %

Shares of KLIC opened at $46.19 on Friday. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -37.55 and a beta of 1.38. Kulicke and Soffa Industries has a 52 week low of $38.20 and a 52 week high of $56.71. The stock’s 50-day moving average price is $44.27 and its 200-day moving average price is $45.35.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released 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 analysts’ expectations 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 company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 EPS. As a group, equities analysts anticipate that Kulicke and Soffa Industries will post 1.32 EPS for the current fiscal year.

Kulicke and Soffa Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, December 19th. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s payout ratio is -65.04%.

Kulicke and Soffa Industries announced that its Board of Directors has approved a share buyback plan on Wednesday, November 13th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the semiconductor company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Several hedge funds and other institutional investors have recently modified their holdings of KLIC. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kulicke and Soffa Industries by 1.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,735 shares of the semiconductor company’s stock valued at $891,000 after acquiring an additional 250 shares during the last quarter. Creative Planning increased its holdings in shares of Kulicke and Soffa Industries by 3.4% in the second quarter. Creative Planning now owns 11,384 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 372 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Kulicke and Soffa Industries by 137.5% during the third quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock worth $32,000 after buying an additional 414 shares in the last quarter. Meritage Portfolio Management boosted its stake in Kulicke and Soffa Industries by 9.4% during the third quarter. Meritage Portfolio Management now owns 6,054 shares of the semiconductor company’s stock worth $273,000 after buying an additional 519 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in 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 buying an additional 543 shares in 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.