B. Riley Research Analysts Lift Earnings Estimates for Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Kulicke and Soffa Industries, Inc. (NASDAQ:KLICGet Rating) – Analysts at B. Riley lifted their Q2 2022 earnings estimates for shares of Kulicke and Soffa Industries in a research report issued on Monday, April 18th. B. Riley analyst C. Ellis now expects that the semiconductor company will post earnings of $1.46 per share for the quarter, up from their prior forecast of $1.45. B. Riley has a “Neutral” rating and a $59.00 price objective on the stock. B. Riley also issued estimates for Kulicke and Soffa Industries’ Q3 2022 earnings at $1.48 EPS, Q1 2023 earnings at $1.01 EPS and Q3 2023 earnings at $2.03 EPS.

KLIC has been the topic of several other research reports. Needham & Company LLC downgraded Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a report on Friday, February 4th. StockNews.com initiated coverage on Kulicke and Soffa Industries in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Zacks Investment Research downgraded Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a report on Tuesday, January 25th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $77.20.

Shares of NASDAQ KLIC opened at $51.44 on Tuesday. The stock’s 50-day moving average is $54.19 and its two-hundred day moving average is $55.95. Kulicke and Soffa Industries has a 1-year low of $43.41 and a 1-year high of $75.29. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 7.21 and a beta of 1.25.

Kulicke and Soffa Industries (NASDAQ:KLICGet Rating) last issued its quarterly earnings results on Wednesday, February 2nd. The semiconductor company reported $2.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.27. Kulicke and Soffa Industries had a return on equity of 45.90% and a net margin of 26.45%. The company had revenue of $460.89 million for the quarter, compared to the consensus estimate of $460.00 million. During the same quarter in the prior year, the business earned $0.86 EPS.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Kulicke and Soffa Industries by 0.7% in the 4th quarter. BlackRock Inc. now owns 9,686,266 shares of the semiconductor company’s stock valued at $586,405,000 after purchasing an additional 69,606 shares during the period. Capital International Investors lifted its position in Kulicke and Soffa Industries by 15.5% during the 4th quarter. Capital International Investors now owns 7,162,248 shares of the semiconductor company’s stock worth $433,602,000 after acquiring an additional 962,656 shares during the period. Royce & Associates LP lifted its position in Kulicke and Soffa Industries by 14.2% during the 4th quarter. Royce & Associates LP now owns 2,515,541 shares of the semiconductor company’s stock worth $152,291,000 after acquiring an additional 313,035 shares during the period. Alliancebernstein L.P. lifted its position in Kulicke and Soffa Industries by 30.0% during the 4th quarter. Alliancebernstein L.P. now owns 1,969,546 shares of the semiconductor company’s stock worth $119,236,000 after acquiring an additional 455,055 shares during the period. Finally, American Century Companies Inc. lifted its position in Kulicke and Soffa Industries by 20.2% during the 4th quarter. American Century Companies Inc. now owns 1,806,606 shares of the semiconductor company’s stock worth $109,372,000 after acquiring an additional 304,120 shares during the period. 94.17% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Chan Pin Chong sold 2,000 shares of the company’s stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Kulicke and Soffa Industries announced that its board has authorized a share repurchase program on Thursday, March 3rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 13.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 11th. Stockholders of record on Thursday, March 24th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, March 23rd. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. Kulicke and Soffa Industries’s dividend payout ratio is currently 9.54%.

About Kulicke and Soffa Industries (Get Rating)

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.

Further Reading

Earnings History and Estimates for Kulicke and Soffa Industries (NASDAQ:KLIC)

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