Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target Cut to $50.00 by Analysts at Craig Hallum

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price objective lowered by Craig Hallum from $55.00 to $50.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also issued reports about the stock. TD Cowen decreased their price target on shares of Kulicke and Soffa Industries from $52.00 to $45.00 and set a hold rating on the stock in a research note on Thursday. B. Riley decreased their price target on shares of Kulicke and Soffa Industries from $54.00 to $47.00 and set a neutral rating on the stock in a research note on Friday, May 3rd. Finally, Needham & Company LLC reiterated a hold rating on shares of Kulicke and Soffa Industries in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $47.33.

Kulicke and Soffa Industries Stock Down 1.0 %

Shares of KLIC stock traded down $0.40 during mid-day trading on Thursday, hitting $40.46. 612,936 shares of the stock were exchanged, compared to its average volume of 492,055. The company has a market cap of $2.24 billion, a PE ratio of -34.34 and a beta of 1.40. Kulicke and Soffa Industries has a 52-week low of $38.53 and a 52-week high of $56.71. The firm has a fifty day moving average of $46.99 and a 200 day moving average of $48.02.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $181.70 million for the quarter, compared to analyst estimates of $179.28 million. Kulicke and Soffa Industries had a negative net margin of 8.94% and a positive return on equity of 2.22%. Kulicke and Soffa Industries’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.55 EPS. Equities analysts predict that Kulicke and Soffa Industries will post -0.31 EPS for the current year.

Kulicke and Soffa Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Thursday, June 20th were issued a $0.20 dividend. The ex-dividend date was Thursday, June 20th. This represents a $0.80 dividend on an annualized basis and a yield of 1.98%. Kulicke and Soffa Industries’s payout ratio is -67.23%.

Institutional Trading of Kulicke and Soffa Industries

A number of 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 3.2% during the 4th quarter. Victory Capital Management Inc. now owns 2,995,493 shares of the semiconductor company’s stock worth $163,913,000 after buying an additional 91,934 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Kulicke and Soffa Industries by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 2,841,236 shares of the semiconductor company’s stock worth $142,943,000 after buying an additional 128,026 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Kulicke and Soffa Industries by 12.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 671,675 shares of the semiconductor company’s stock worth $33,040,000 after buying an additional 73,243 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Kulicke and Soffa Industries by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 657,783 shares of the semiconductor company’s stock worth $35,994,000 after buying an additional 21,687 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in shares of Kulicke and Soffa Industries by 8.1% during the 1st quarter. TimesSquare Capital Management LLC now owns 648,357 shares of the semiconductor company’s stock worth $32,619,000 after buying an additional 48,590 shares during the last quarter. Institutional investors and hedge funds own 98.22% 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 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.