Kulicke and Soffa Industries Inc. (NASDAQ:KLIC) dropped 3.2% during mid-day trading on Wednesday . The stock traded as low as $11.50 and last traded at $12.00, with a volume of 766,556 shares. The stock had previously closed at $12.40.

KLIC has been the subject of several research analyst reports. B. Riley reissued a “buy” rating and issued a $16.00 price objective on shares of Kulicke and Soffa Industries in a research note on Monday, May 9th. Zacks Investment Research raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Friday, May 6th.

The firm has a 50 day moving average of $12.33 and a 200 day moving average of $11.53. The stock has a market cap of $875.85 million and a P/E ratio of 22.545.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. During the same period in the prior year, the company earned $0.33 earnings per share. The firm had revenue of $216.40 million for the quarter, compared to analyst estimates of $200.76 million. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. On average, equities research analysts expect that Kulicke and Soffa Industries Inc. will post $0.73 earnings per share for the current fiscal year.

Several hedge funds and institutional investors have recently bought and sold shares of the company. Matarin Capital Management LLC purchased a new position in Kulicke and Soffa Industries during the fourth quarter valued at $4,651,000. California Public Employees Retirement System raised its stake in Kulicke and Soffa Industries by 2.1% in the fourth quarter. California Public Employees Retirement System now owns 253,570 shares of the company’s stock valued at $2,959,000 after buying an additional 5,300 shares during the last quarter. Finally, Russell Frank Co raised its stake in Kulicke and Soffa Industries by 4,356.4% in the fourth quarter. Russell Frank Co now owns 160,430 shares of the company’s stock valued at $1,931,000 after buying an additional 156,830 shares during the last quarter.

Kulicke and Soffa Industries, Inc (K&S), designs, manufactures and sells capital equipment and expendable tools used to assemble semiconductor devices, including integrated circuits (IC), high and low powered discrete devices, light-emitting diodes (LEDs), and power modules. The Company also service, maintain, repair and upgrade its equipment.

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