Kulicke and Soffa Industries (NASDAQ:KLIC) Cut to Sell (D+) at Weiss Ratings

Weiss Ratings lowered shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a hold (c-) rating to a sell (d+) rating in a research report sent to investors on Saturday morning,Weiss Ratings reports.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC upped their price target on shares of Kulicke and Soffa Industries from $37.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. TD Cowen upped 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, August 7th. Finally, B. Riley upped their price target on shares of Kulicke and Soffa Industries from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.00.

Kulicke and Soffa Industries Stock Up 0.0%

KLIC opened at $40.83 on Friday. The stock has a fifty day moving average of $39.44 and a 200-day moving average of $35.70. The firm has a market capitalization of $2.13 billion, a P/E ratio of 510.38 and a beta of 1.57. Kulicke and Soffa Industries has a 12-month low of $26.63 and a 12-month high of $52.08.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its earnings results on Wednesday, August 6th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $148.41 million during the quarter, compared to analyst estimates 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 company’s revenue for the quarter was down 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, analysts expect that Kulicke and Soffa Industries will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Thursday, September 18th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, September 18th. Kulicke and Soffa Industries’s dividend payout ratio is presently 1,025.00%.

Insider Buying and Selling

In other Kulicke and Soffa Industries news, SVP Nelson Munpun Wong sold 30,000 shares of the 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 transaction, the senior vice president directly owned 147,533 shares of the company’s stock, valued at $5,469,048.31. This represents a 16.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Hedge funds have recently bought and sold shares of the business. True Wealth Design LLC increased its position in Kulicke and Soffa Industries by 7,609.1% during the second quarter. True Wealth Design LLC now owns 848 shares of the semiconductor company’s stock worth $29,000 after buying an additional 837 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Kulicke and Soffa Industries by 789.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 925 shares of the semiconductor company’s stock worth $32,000 after buying an additional 821 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Kulicke and Soffa Industries by 2,665.7% during the second quarter. EverSource Wealth Advisors LLC now owns 968 shares of the semiconductor company’s stock worth $33,000 after buying an additional 933 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Kulicke and Soffa Industries during the second quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Kulicke and Soffa Industries by 280.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,234 shares of the semiconductor company’s stock worth $41,000 after buying an additional 910 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

About Kulicke and Soffa Industries

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.