Insider Selling: Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) CFO Sells 60,000 Shares of Stock

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) CFO Lester A. Wong sold 60,000 shares of Kulicke and Soffa Industries stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $46.37, for a total transaction of $2,782,200.00. Following the completion of the transaction, the chief financial officer now owns 79,636 shares in the company, valued at approximately $3,692,721.32. This trade represents a 42.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Kulicke and Soffa Industries Stock Up 1.5 %

Shares of NASDAQ KLIC opened at $49.17 on Friday. The stock’s 50 day moving average price is $45.06 and its two-hundred day moving average price is $45.39. Kulicke and Soffa Industries, Inc. has a 52-week low of $38.20 and a 52-week high of $56.71. The stock has a market capitalization of $2.65 billion, a P/E ratio of -39.98 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. The firm had revenue of $181.30 million for the quarter, compared to the consensus estimate of $180.03 million. During the same quarter last year, the business earned $0.51 earnings per share. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, analysts anticipate that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

Kulicke and Soffa Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Thursday, December 19th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, December 19th. This is an increase from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s dividend payout ratio is currently -65.04%.

Kulicke and Soffa Industries declared that its Board of Directors has approved a share buyback plan on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Craig Hallum reduced their target price on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. StockNews.com cut Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Wednesday. Needham & Company LLC raised shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, November 15th. DA Davidson dropped their target price on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, TD Cowen increased their price target on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $52.40.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its position in Kulicke and Soffa Industries by 85.2% during the 3rd quarter. Barclays PLC now owns 96,604 shares of the semiconductor company’s stock valued at $4,361,000 after purchasing an additional 44,429 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Kulicke and Soffa Industries during the third quarter valued at $53,000. Kovitz Investment Group Partners LLC grew its position in shares of Kulicke and Soffa Industries by 27.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 88,712 shares of the semiconductor company’s stock worth $3,977,000 after acquiring an additional 19,279 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Kulicke and Soffa Industries by 32.4% in the 3rd quarter. Stifel Financial Corp now owns 48,328 shares of the semiconductor company’s stock worth $2,181,000 after acquiring an additional 11,836 shares during the period. Finally, Systematic Financial Management LP lifted its position in Kulicke and Soffa Industries by 59.7% in the 3rd quarter. Systematic Financial Management LP now owns 140,269 shares of the semiconductor company’s stock valued at $6,330,000 after purchasing an additional 52,419 shares during the last quarter. 98.22% of the stock is owned by institutional investors.

Kulicke and Soffa Industries Company Profile

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services (APS). The company offers ball bonding equipment, wafer level bonding equipment, wedge bonding equipment; and advanced display, die-attach, and thermocompression systems and solutions, as well as tools, spares and services for equipment.