PNC Financial Services Group Inc. Trims Stake in Kulicke and Soffa Industries, Inc. $KLIC

PNC Financial Services Group Inc. cut its position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,712 shares of the semiconductor company’s stock after selling 388 shares during the period. PNC Financial Services Group Inc.’s holdings in Kulicke and Soffa Industries were worth $188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KLIC. Tower Research Capital LLC TRC raised its holdings in shares of Kulicke and Soffa Industries by 9.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,985 shares of the semiconductor company’s stock valued at $139,000 after buying an additional 254 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Kulicke and Soffa Industries by 7.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,776 shares of the semiconductor company’s stock valued at $363,000 after purchasing an additional 527 shares during the period. Illinois Municipal Retirement Fund lifted its position in Kulicke and Soffa Industries by 1.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 28,663 shares of the semiconductor company’s stock worth $945,000 after acquiring an additional 534 shares during the period. Fifth Third Bancorp lifted its position in Kulicke and Soffa Industries by 99.7% during the 1st quarter. Fifth Third Bancorp now owns 1,214 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 606 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kulicke and Soffa Industries by 2.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,203 shares of the semiconductor company’s stock valued at $1,409,000 after buying an additional 660 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. DA Davidson dropped their price target on Kulicke and Soffa Industries from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Needham & Company LLC boosted their price objective on Kulicke and Soffa Industries from $37.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, TD Cowen upped their target price on Kulicke and Soffa Industries from $36.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, August 7th.

Insider Buying and Selling at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, SVP Nelson Munpun Wong sold 30,000 shares of Kulicke and Soffa Industries stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $37.07, for a total transaction of $1,112,100.00. Following the completion of the sale, the senior vice president owned 147,533 shares of the company’s stock, valued at approximately $5,469,048.31. The trade was a 16.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.40% of the stock is currently owned by corporate insiders.

Kulicke and Soffa Industries Trading Down 3.4%

NASDAQ KLIC opened at $36.11 on Monday. The company has a market capitalization of $1.88 billion, a PE ratio of 451.38 and a beta of 1.52. Kulicke and Soffa Industries, Inc. has a 1-year low of $26.63 and a 1-year high of $52.08. The firm’s fifty day simple moving average is $35.06 and its 200-day simple moving average is $34.97.

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

Kulicke and Soffa Industries Dividend Announcement

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

Kulicke and Soffa Industries 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.