Zacks Investment Research upgraded shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a sell rating to a hold rating in a research report report published on Tuesday morning, Zacks.com reports.
According to Zacks, “Kulicke & Soffa is a leading provider of semiconductor packaging and electronic assembly solutions supporting the global automotive, consumer, communications, computing and industrial segments. As a pioneer in the semiconductor space, K&S has provided customers with market leading packaging solutions for decades. In recent years, K&S has expanded its product offerings through strategic acquisitions and organic development, adding advanced packaging, electronics assembly, wedge bonding and a broader range of expendable tools to its core offerings. Combined with its extensive expertise in process technology and focus on development, K&S is well positioned to help customers meet the challenges of packaging and assembling the next-generation of electronic devices. “
Several other research analysts have also recently issued reports on KLIC. DA Davidson cut shares of Kulicke and Soffa Industries from a buy rating to a neutral rating and cut their target price for the stock from $30.00 to $26.00 in a report on Monday, July 8th. ValuEngine raised Kulicke and Soffa Industries from a hold rating to a buy rating in a research note on Tuesday, June 11th. Finally, BidaskClub raised Kulicke and Soffa Industries from a sell rating to a hold rating in a research note on Thursday, July 18th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Kulicke and Soffa Industries currently has a consensus rating of Hold and a consensus price target of $26.50.
Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Thursday, August 1st. The semiconductor company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Kulicke and Soffa Industries had a net margin of 5.96% and a return on equity of 6.21%. The firm had revenue of $127.11 million for the quarter, compared to analysts’ expectations of $128.70 million. During the same quarter last year, the business earned $0.89 earnings per share. The business’s revenue was down 52.7% on a year-over-year basis. As a group, equities research analysts forecast that Kulicke and Soffa Industries will post 0.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Friday, September 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Thursday, September 26th. Kulicke and Soffa Industries’s payout ratio is 19.75%.
In other Kulicke and Soffa Industries news, Director Peter T. M. Kong purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was bought at an average price of $19.37 per share, with a total value of $193,700.00. Following the completion of the purchase, the director now directly owns 64,690 shares of the company’s stock, valued at approximately $1,253,045.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Oak Associates Ltd. OH lifted its stake in Kulicke and Soffa Industries by 113.0% in the first quarter. Oak Associates Ltd. OH now owns 59,320 shares of the semiconductor company’s stock worth $1,312,000 after acquiring an additional 31,475 shares during the period. New Jersey Better Educational Savings Trust purchased a new position in Kulicke and Soffa Industries during the second quarter valued at $338,000. NJ State Employees Deferred Compensation Plan lifted its position in Kulicke and Soffa Industries by 233.3% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 40,000 shares of the semiconductor company’s stock valued at $902,000 after buying an additional 28,000 shares during the period. SG Americas Securities LLC lifted its position in Kulicke and Soffa Industries by 5.7% during the first quarter. SG Americas Securities LLC now owns 22,822 shares of the semiconductor company’s stock valued at $505,000 after buying an additional 1,233 shares during the period. Finally, Clark Capital Management Group Inc. lifted its position in Kulicke and Soffa Industries by 3.7% during the first quarter. Clark Capital Management Group Inc. now owns 475,175 shares of the semiconductor company’s stock valued at $10,506,000 after buying an additional 17,067 shares during the period. 91.36% of the stock is owned by institutional investors.
About Kulicke and Soffa Industries
Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and 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, wedge bonders, advanced packaging, and electronic assembly solutions.
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