Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target Raised to $40.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price objective hoisted by Needham & Company LLC from $37.00 to $40.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Other equities research analysts also recently issued research reports about the stock. DA Davidson dropped their price target on shares of Kulicke and Soffa Industries from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. TD Cowen lifted their price target on shares of Kulicke and Soffa Industries from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Thursday.

Kulicke and Soffa Industries Trading Up 1.3%

NASDAQ:KLIC opened at $35.42 on Thursday. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 442.75 and a beta of 1.52. The firm’s fifty day simple moving average is $34.68 and its 200 day simple moving average is $35.29. Kulicke and Soffa Industries has a twelve month low of $26.63 and a twelve month high of $52.08.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its earnings results on Wednesday, August 6th. The semiconductor company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. Kulicke and Soffa Industries had a net margin of 0.90% and a negative return on equity of 1.06%. The business had revenue of $148.41 million for the quarter, compared to analyst estimates of $145.48 million. During the same quarter in the previous year, the business posted $0.35 EPS. The business’s quarterly revenue was down 18.3% on a year-over-year basis. On average, analysts predict that Kulicke and Soffa Industries will post 0.93 earnings per share for the current year.

Kulicke and Soffa Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Thursday, June 19th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.82 annualized dividend and a yield of 2.3%. Kulicke and Soffa Industries’s payout ratio is 1,025.00%.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several hedge funds and other institutional investors have recently modified their holdings of KLIC. True Wealth Design LLC increased its position in shares of Kulicke and Soffa Industries by 7,609.1% in the 2nd quarter. True Wealth Design LLC now owns 848 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 837 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Kulicke and Soffa Industries by 789.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 925 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 821 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Kulicke and Soffa Industries in the 2nd quarter worth about $34,000. Fifth Third Bancorp increased its position in shares of Kulicke and Soffa Industries by 99.7% in the 1st quarter. Fifth Third Bancorp now owns 1,214 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 606 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Kulicke and Soffa Industries by 280.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,234 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 910 shares during the last quarter. Institutional investors 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.