Summit Global Investments Makes New Investment in Kulicke and Soffa Industries, Inc. $KLIC

Summit Global Investments acquired a new stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 33,121 shares of the semiconductor company’s stock, valued at approximately $1,346,000. Summit Global Investments owned approximately 0.06% of Kulicke and Soffa Industries as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. True Wealth Design LLC grew its position in 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 period. EverSource Wealth Advisors LLC lifted its stake in shares of Kulicke and Soffa Industries by 2,665.7% in the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 933 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Kulicke and Soffa Industries during the second quarter valued at about $34,000. Federated Hermes Inc. increased its position in shares of Kulicke and Soffa Industries by 814.8% during the third quarter. Federated Hermes Inc. now owns 1,052 shares of the semiconductor company’s stock worth $43,000 after acquiring an additional 937 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Kulicke and Soffa Industries by 57.3% during the third quarter. Covestor Ltd now owns 1,858 shares of the semiconductor company’s stock worth $76,000 after acquiring an additional 677 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on KLIC shares. B. Riley reaffirmed a “neutral” rating and issued a $39.00 price target (up previously from $35.00) on shares of Kulicke and Soffa Industries in a research report on Friday, November 21st. DA Davidson reaffirmed a “buy” rating and set a $55.00 target price on shares of Kulicke and Soffa Industries in a research report on Friday, November 21st. Needham & Company LLC upped their price target on Kulicke and Soffa Industries from $57.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Wall Street Zen upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating in a research note on Sunday, January 25th. Finally, Weiss Ratings reiterated 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.00.

Insider Activity at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, SVP Nelson Munpun Wong sold 30,000 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $56.53, for a total value of $1,695,900.00. Following the completion of the sale, the senior vice president directly owned 126,369 shares of the company’s stock, valued at $7,143,639.57. This trade represents a 19.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Zi Yao Lim sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the transaction, the general counsel directly owned 23,714 shares in the company, valued at $1,067,130. This represents a 4.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 36,204 shares of company stock valued at $2,003,450. 1.20% of the stock is currently owned by company insiders.

Kulicke and Soffa Industries Trading Down 2.6%

KLIC stock opened at $57.33 on Friday. The stock has a market cap of $3.00 billion, a P/E ratio of -2,865.07 and a beta of 1.63. The stock’s fifty day simple moving average is $50.55 and its two-hundred day simple moving average is $42.40. Kulicke and Soffa Industries, Inc. has a 1-year low of $26.63 and a 1-year high of $60.00.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its earnings results on Thursday, November 20th. The semiconductor company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. The company had revenue of $177.56 million for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. As a group, analysts forecast that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Thursday, December 18th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, December 18th. Kulicke and Soffa Industries’s dividend payout ratio is currently -4,100.00%.

Kulicke and Soffa Industries Company Profile

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.