Needham & Company LLC Issues Positive Forecast for Kulicke and Soffa Industries (NASDAQ:KLIC) Stock Price

Kulicke and Soffa Industries (NASDAQ:KLIC) had its target price increased by Needham & Company LLC from $57.00 to $64.00 in a report published on Tuesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also weighed in on the stock. B. Riley reiterated a “neutral” rating and issued a $39.00 target price (up from $35.00) on shares of Kulicke and Soffa Industries in a report on Friday, November 21st. Zacks Research upgraded Kulicke and Soffa Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. DA Davidson reiterated a “buy” rating and issued a $55.00 price objective on shares of Kulicke and Soffa Industries in a research report on Friday, November 21st. Wall Street Zen downgraded Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Kulicke and Soffa Industries in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.00.

Kulicke and Soffa Industries Trading Down 1.4%

KLIC opened at $56.73 on Tuesday. The firm has a market capitalization of $2.97 billion, a PE ratio of -2,835.08 and a beta of 1.63. The firm’s 50-day moving average price is $47.22 and its 200 day moving average price is $41.24. Kulicke and Soffa Industries has a twelve month low of $26.63 and a twelve month high of $59.79.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings results on Thursday, November 20th. The semiconductor company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.22 by $0.06. The firm had revenue of $177.56 million during the quarter, compared to analysts’ expectations of $169.84 million. Kulicke and Soffa Industries had a negative return on equity of 1.64% and a net margin of 0.03%.The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 earnings per share. As a group, analysts predict that Kulicke and Soffa Industries will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Thursday, December 18th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Thursday, December 18th. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is -4,100.00%.

Insider Activity

In other Kulicke and Soffa Industries news, General Counsel Zi Yao Lim sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the general counsel directly owned 23,714 shares in the company, valued at $1,067,130. This represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nelson Munpun Wong sold 30,000 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $56.53, for a total transaction of $1,695,900.00. Following the sale, the senior vice president directly owned 126,369 shares in the company, valued at $7,143,639.57. This represents a 19.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 36,004 shares of company stock valued at $1,991,450. 3.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Several institutional investors have recently modified their holdings of the business. True Wealth Design LLC raised its stake in shares of Kulicke and Soffa Industries by 7,609.1% in the second quarter. True Wealth Design LLC now owns 848 shares of the semiconductor company’s stock valued at $29,000 after acquiring an additional 837 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Kulicke and Soffa Industries during the 3rd quarter worth about $29,000. Foster Dykema Cabot & Partners LLC acquired a new stake in Kulicke and Soffa Industries in the 3rd quarter valued at about $33,000. EverSource Wealth Advisors LLC boosted its stake in shares of Kulicke and Soffa Industries by 2,665.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 968 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 933 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Kulicke and Soffa Industries during the second quarter worth about $34,000. Institutional investors and hedge funds own 98.22% of the company’s stock.

About Kulicke and Soffa Industries

Kulicke & Soffa Industries (NASDAQ:KLIC) is a global supplier of semiconductor and LED assembly equipment. The company specializes in the design, development and manufacture of advanced die bonding, wire bonding, flip-chip bumping and wafer-level packaging systems. Its solutions support a wide range of applications in consumer electronics, automotive, communications and other high-growth segments within the semiconductor and LED industries.

Key products include precision wire bonders for microelectronic packaging, die attach systems for chip placement, flip-chip bonders for advanced packaging architectures and LED packaging platforms that enable high-volume production of automotive and general-illumination LEDs.