Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target Raised to $56.00 at B. Riley

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price objective raised by B. Riley from $52.00 to $56.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock. B. Riley also issued estimates for Kulicke and Soffa Industries’ Q1 2024 earnings at $0.25 EPS, Q2 2024 earnings at $0.37 EPS, Q3 2024 earnings at $0.59 EPS, Q4 2024 earnings at $0.77 EPS, FY2024 earnings at $1.98 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.57 EPS, Q3 2025 earnings at $0.69 EPS, Q4 2025 earnings at $0.77 EPS and FY2025 earnings at $2.52 EPS.

A number of other research analysts have also weighed in on KLIC. StockNews.com began coverage on Kulicke and Soffa Industries in a research note on Thursday, October 5th. They set a hold rating on the stock. Craig Hallum upgraded Kulicke and Soffa Industries from a hold rating to a buy rating and set a $60.00 target price on the stock in a research report on Friday.

Kulicke and Soffa Industries Trading Up 0.8 %

NASDAQ:KLIC opened at $51.04 on Friday. The company has a market capitalization of $2.88 billion, a P/E ratio of 51.56 and a beta of 1.41. The firm has a 50-day moving average price of $46.10 and a two-hundred day moving average price of $51.26. Kulicke and Soffa Industries has a twelve month low of $40.20 and a twelve month high of $60.20.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings data on Thursday, November 16th. The semiconductor company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $202.32 million during the quarter, compared to analysts’ expectations of $200.17 million. Kulicke and Soffa Industries had a net margin of 7.70% and a return on equity of 8.92%. The company’s revenue was down 29.3% on a year-over-year basis. During the same period last year, the company posted $1.19 EPS. On average, equities research analysts predict that Kulicke and Soffa Industries will post 2.29 earnings per share for the current year.

Kulicke and Soffa Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 9th. Investors of record on Thursday, December 21st will be issued a dividend of $0.20 per share. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.57%. Kulicke and Soffa Industries’s payout ratio is presently 76.77%.

Insiders Place Their Bets

In other Kulicke and Soffa Industries news, CEO Fusen Ernie Chen sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $47.11, for a total value of $1,413,300.00. Following the completion of the transaction, the chief executive officer now owns 1,094,380 shares in the company, valued at approximately $51,556,241.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Fusen Ernie Chen sold 30,000 shares of the company’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $47.11, for a total value of $1,413,300.00. Following the completion of the transaction, the chief executive officer now directly owns 1,094,380 shares in the company, valued at $51,556,241.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Nestor Chylak sold 4,084 shares of Kulicke and Soffa Industries stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $48.88, for a total transaction of $199,625.92. Following the sale, the senior vice president now directly owns 19,609 shares in the company, valued at approximately $958,487.92. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

Institutional Trading of Kulicke and Soffa Industries

Several institutional investors and hedge funds have recently bought and sold shares of KLIC. Victory Capital Management Inc. increased its holdings in shares of Kulicke and Soffa Industries by 31.6% in the 3rd quarter. Victory Capital Management Inc. now owns 2,903,559 shares of the semiconductor company’s stock valued at $141,200,000 after acquiring an additional 697,496 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Kulicke and Soffa Industries by 45.8% during the fourth quarter. Alliancebernstein L.P. now owns 2,109,800 shares of the semiconductor company’s stock worth $93,380,000 after purchasing an additional 663,192 shares during the period. TimesSquare Capital Management LLC bought a new position in shares of Kulicke and Soffa Industries in the 1st quarter worth about $21,783,000. Invesco Ltd. boosted its holdings in shares of Kulicke and Soffa Industries by 102.6% in the 3rd quarter. Invesco Ltd. now owns 673,859 shares of the semiconductor company’s stock valued at $32,770,000 after buying an additional 341,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Kulicke and Soffa Industries by 115.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 545,557 shares of the semiconductor company’s stock valued at $28,745,000 after buying an additional 292,151 shares during the last quarter. Institutional investors and hedge funds own 98.49% of the company’s stock.

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 two segments, Capital Equipment, and Aftermarket Products and Services (APS). The company manufactures and sells advanced displays; die-transfer, flip-chip, and TCB advanced packaging products; ball bonder, die-attach, electronics assembly, lithography, wafer-level bonder, and wedge bonder products; consumables, such as capillaries, dicing blades, and wedge bonds; and auto offline programming, KNet PLUS, and new product introduction/manufacturing execution system software products.