Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target Raised to $64.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its target price upped by Needham & Company LLC from $57.00 to $64.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

KLIC has been the topic of a number of other research reports. Wall Street Zen downgraded Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. DA Davidson reiterated a “buy” rating and set a $55.00 price objective on shares of Kulicke and Soffa Industries in a research report on Friday, November 21st. B. Riley restated a “neutral” rating and issued a $39.00 target price (up previously from $35.00) on shares of Kulicke and Soffa Industries in a research report on Friday, November 21st. Zacks Research raised Kulicke and Soffa Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Kulicke and Soffa Industries in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $49.00.

Kulicke and Soffa Industries Stock Up 0.1%

Shares of KLIC opened at $59.51 on Tuesday. The business’s fifty day moving average is $48.07 and its 200 day moving average is $41.50. Kulicke and Soffa Industries has a 12-month low of $26.63 and a 12-month high of $60.00. The stock has a market cap of $3.12 billion, a P/E ratio of -2,974.01 and a beta of 1.63.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings data on Thursday, November 20th. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.22 by $0.06. The firm had revenue of $177.56 million during the quarter, compared to the consensus estimate of $169.84 million. Kulicke and Soffa Industries had a negative return on equity of 1.64% and a net margin of 0.03%.The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 earnings per share. On average, analysts expect that Kulicke and Soffa Industries will post 0.93 EPS for the current year.

Kulicke and Soffa Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Thursday, December 18th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Thursday, December 18th. Kulicke and Soffa Industries’s payout ratio is presently -4,100.00%.

Insider Activity

In other news, General Counsel Zi Yao Lim sold 1,000 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the general counsel directly owned 23,714 shares of the company’s stock, valued at $1,067,130. This represents a 4.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Nelson Munpun Wong sold 30,000 shares of Kulicke and Soffa Industries stock in a transaction on Monday, January 12th. The stock was sold at an average price of $56.53, for a total transaction of $1,695,900.00. Following the transaction, the senior vice president owned 126,369 shares in the company, valued at $7,143,639.57. This represents a 19.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 36,004 shares of company stock worth $1,991,450 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. True Wealth Design LLC lifted its stake in shares of Kulicke and Soffa Industries by 7,609.1% in the 2nd quarter. True Wealth Design LLC now owns 848 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 837 shares during the last quarter. Advisory Services Network LLC bought a new stake in Kulicke and Soffa Industries in the third quarter worth $29,000. Foster Dykema Cabot & Partners LLC purchased a new position in Kulicke and Soffa Industries during the third quarter worth $33,000. EverSource Wealth Advisors LLC increased its position in Kulicke and Soffa Industries by 2,665.7% during the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 933 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Kulicke and Soffa Industries in the second quarter valued at $34,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

About Kulicke and Soffa Industries

Kulicke & Soffa Industries (NASDAQ:KLIC) is a global supplier of semiconductor and LED assembly equipment. The company specializes in the design, development and manufacture of advanced die bonding, wire bonding, flip-chip bumping and wafer-level packaging systems. Its solutions support a wide range of applications in consumer electronics, automotive, communications and other high-growth segments within the semiconductor and LED industries.

Key products include precision wire bonders for microelectronic packaging, die attach systems for chip placement, flip-chip bonders for advanced packaging architectures and LED packaging platforms that enable high-volume production of automotive and general-illumination LEDs.