Kulicke and Soffa Industries (NASDAQ:KLIC) Issues Earnings Results, Beats Estimates By $0.48 EPS

Kulicke and Soffa Industries (NASDAQ:KLICGet Rating) released its quarterly earnings data on Wednesday. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.48, MarketWatch Earnings reports. Kulicke and Soffa Industries had a return on equity of 47.38% and a net margin of 28.33%. The business had revenue of $384.28 million during the quarter, compared to analyst estimates of $380.25 million. During the same quarter in the previous year, the firm posted $1.26 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. Kulicke and Soffa Industries updated its Q3 guidance to $1.38-1.68 EPS.

Shares of KLIC traded up $1.53 during midday trading on Friday, reaching $51.54. The stock had a trading volume of 1,480,924 shares, compared to its average volume of 747,648. Kulicke and Soffa Industries has a 52 week low of $43.41 and a 52 week high of $75.29. The firm’s 50 day moving average price is $53.23 and its 200-day moving average price is $55.59. The company has a market capitalization of $3.21 billion, a P/E ratio of 6.56 and a beta of 1.30.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 11th. Stockholders of record on Thursday, March 24th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Wednesday, March 23rd. Kulicke and Soffa Industries’s dividend payout ratio is presently 8.65%.

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

In other news, EVP Chan Pin Chong sold 2,000 shares of the business’s stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $60.00, for a total value of $120,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans raised its stake in shares of Kulicke and Soffa Industries by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 50,431 shares of the semiconductor company’s stock worth $3,053,000 after buying an additional 341 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Kulicke and Soffa Industries by 2.4% in the 4th quarter. California State Teachers Retirement System now owns 85,860 shares of the semiconductor company’s stock worth $5,198,000 after buying an additional 1,989 shares in the last quarter. Oliver Luxxe Assets LLC raised its position in shares of Kulicke and Soffa Industries by 144.7% during the fourth quarter. Oliver Luxxe Assets LLC now owns 8,513 shares of the semiconductor company’s stock worth $515,000 after purchasing an additional 5,034 shares during the period. Stifel Financial Corp raised its position in shares of Kulicke and Soffa Industries by 56.9% during the fourth quarter. Stifel Financial Corp now owns 14,515 shares of the semiconductor company’s stock worth $879,000 after purchasing an additional 5,263 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Kulicke and Soffa Industries by 3.4% during the fourth quarter. Legal & General Group Plc now owns 181,033 shares of the semiconductor company’s stock worth $10,959,000 after purchasing an additional 5,961 shares during the period. 97.02% of the stock is currently owned by institutional investors.

KLIC has been the subject of a number of analyst reports. Needham & Company LLC lowered Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a research report on Friday, February 4th. B. Riley lowered Kulicke and Soffa Industries from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $80.00 to $59.00 in a research report on Tuesday, April 12th. Zacks Investment Research lowered Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, April 20th. Finally, StockNews.com lowered Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $77.20.

Kulicke and Soffa Industries Company Profile (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.

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

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