Nuveen Asset Management LLC Cuts Stock Position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Nuveen Asset Management LLC reduced its position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC – Get Rating) by 4.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 264,431 shares of the semiconductor company’s stock after selling 13,418 shares during the quarter. Nuveen Asset Management LLC owned 0.46% of Kulicke and Soffa Industries worth $10,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinebridge Investments L.P. boosted its holdings in shares of Kulicke and Soffa Industries by 513.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 613 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 513 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Kulicke and Soffa Industries by 480.2% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,143 shares of the semiconductor company’s stock valued at $44,000 after acquiring an additional 946 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Kulicke and Soffa Industries during the 3rd quarter valued at about $87,000. Point72 Hong Kong Ltd purchased a new stake in Kulicke and Soffa Industries during the 2nd quarter valued at about $89,000. Finally, EMC Capital Management boosted its holdings in Kulicke and Soffa Industries by 16.3% during the 2nd quarter. EMC Capital Management now owns 3,576 shares of the semiconductor company’s stock valued at $153,000 after acquiring an additional 500 shares during the period. 98.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on KLIC shares. Craig Hallum increased their target price on Kulicke and Soffa Industries from $60.00 to $70.00 and gave the company a “buy” rating in a report on Friday, February 3rd. DA Davidson upped their price target on Kulicke and Soffa Industries from $55.00 to $60.00 in a research report on Friday, November 18th. Finally, B. Riley upped their price target on Kulicke and Soffa Industries from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, February 3rd.

Insider Activity at Kulicke and Soffa Industries

In related news, SVP Robert Nestor Chylak sold 3,178 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $48.98, for a total transaction of $155,658.44. Following the completion of the transaction, the senior vice president now owns 23,693 shares of the company’s stock, valued at approximately $1,160,483.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.10% of the stock is owned by corporate insiders.

Kulicke and Soffa Industries Stock Performance

Shares of NASDAQ:KLIC opened at $52.18 on Friday. Kulicke and Soffa Industries, Inc. has a 52-week low of $35.95 and a 52-week high of $62.16. The firm has a market capitalization of $2.96 billion, a P/E ratio of 10.03 and a beta of 1.39. The stock has a 50 day moving average price of $51.69 and a 200-day moving average price of $46.23.

Kulicke and Soffa Industries (NASDAQ:KLIC – Get Rating) last announced its earnings results on Thursday, February 2nd. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.13. Kulicke and Soffa Industries had a return on equity of 28.72% and a net margin of 25.80%. The firm had revenue of $176.20 million during the quarter, compared to analyst estimates of $176.49 million. During the same quarter in the prior year, the company earned $2.19 EPS. The business’s revenue was down 61.8% compared to the same quarter last year. On average, equities analysts forecast that Kulicke and Soffa Industries, Inc. will post 1.85 EPS for the current fiscal year.

Kulicke and Soffa Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Thursday, March 23rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Wednesday, March 22nd. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is presently 14.62%.

About Kulicke and Soffa Industries

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Kulicke & Soffa Industries, Inc engages in the design, manufacture, and sale of capital equipment and tools used to assemble semiconductor devices, including integrated circuits (“ICs“), high and low powered discrete devices, light-emitting diodes (“LEDs“), and power modules. The firm operates through the Capital Equipment, and Aftermarket Products and Services (APS) segments.