BidaskClub Lowers Kulicke and Soffa Industries (KLIC) to Sell

Share on StockTwits

BidaskClub cut shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a hold rating to a sell rating in a report published on Tuesday morning.

KLIC has been the topic of several other research reports. Zacks Investment Research downgraded Kulicke and Soffa Industries from a hold rating to a sell rating in a research note on Thursday, July 12th. ValuEngine upgraded Kulicke and Soffa Industries from a hold rating to a buy rating in a research note on Saturday, July 14th. Finally, B. Riley dropped their price target on Kulicke and Soffa Industries from $36.00 to $34.00 and set a buy rating on the stock in a research note on Friday, May 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $29.70.

Kulicke and Soffa Industries stock opened at $25.88 on Tuesday. The company has a current ratio of 5.02, a quick ratio of 4.42 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 0.97 and a beta of 1.22. Kulicke and Soffa Industries has a fifty-two week low of $18.22 and a fifty-two week high of $28.71.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings results on Thursday, May 31st. The semiconductor company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.03). The firm had revenue of $221.77 million for the quarter, compared to analysts’ expectations of $221.80 million. Kulicke and Soffa Industries had a net margin of 6.93% and a return on equity of 19.51%. research analysts forecast that Kulicke and Soffa Industries will post 2.27 earnings per share for the current year.

Kulicke and Soffa Industries declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In other news, VP Deepak Sood sold 20,000 shares of the business’s stock in a transaction dated Friday, July 13th. The stock was sold at an average price of $28.00, for a total value of $560,000.00. Following the completion of the transaction, the vice president now owns 87,235 shares of the company’s stock, valued at approximately $2,442,580. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian R. Bachman sold 2,200 shares of the business’s stock in a transaction dated Friday, July 13th. The shares were sold at an average price of $28.00, for a total value of $61,600.00. Following the completion of the transaction, the director now directly owns 17,928 shares of the company’s stock, valued at approximately $501,984. The disclosure for this sale can be found here. In the last three months, insiders sold 22,900 shares of company stock valued at $639,000. Insiders own 1.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. California Public Employees Retirement System lifted its holdings in shares of Kulicke and Soffa Industries by 1.0% in the 2nd quarter. California Public Employees Retirement System now owns 217,446 shares of the semiconductor company’s stock valued at $5,180,000 after buying an additional 2,199 shares during the period. Systematic Financial Management LP lifted its holdings in shares of Kulicke and Soffa Industries by 3.1% in the 1st quarter. Systematic Financial Management LP now owns 74,135 shares of the semiconductor company’s stock valued at $1,854,000 after buying an additional 2,205 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in shares of Kulicke and Soffa Industries by 23.5% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,074 shares of the semiconductor company’s stock valued at $288,000 after buying an additional 2,300 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Kulicke and Soffa Industries by 71.4% in the 4th quarter. Wells Fargo & Company MN now owns 5,879 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 2,449 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Kulicke and Soffa Industries by 2.1% in the 1st quarter. Swiss National Bank now owns 123,700 shares of the semiconductor company’s stock valued at $3,094,000 after buying an additional 2,600 shares during the period. 84.10% of the stock is owned by institutional investors and hedge funds.

Kulicke and Soffa Industries Company Profile

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and expendable tools to assemble semiconductor devices. It operates in two segments, Capital Equipment, and Aftermarket Products and Services (APS). The Capital Equipment segment manufactures and sells a line of ball bonders, wafer level bonders, wedge bonders, advanced packaging, and electronic assembly solutions.

Further Reading: Earnings Per Share (EPS) Explained

Receive News & Ratings for Kulicke and Soffa Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kulicke and Soffa Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply