Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Get Free Report) SVP Robert Nestor Chylak sold 11,391 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $49.52, for a total value of $564,082.32. Following the completion of the sale, the senior vice president now directly owns 20,838 shares in the company, valued at $1,031,897.76. This represents a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Kulicke and Soffa Industries Price Performance
Kulicke and Soffa Industries stock opened at $48.84 on Wednesday. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -39.71 and a beta of 1.38. The firm has a 50 day simple moving average of $46.50 and a 200-day simple moving average of $45.46. Kulicke and Soffa Industries, Inc. has a 1-year low of $38.20 and a 1-year high of $56.71.
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Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $181.30 million during the quarter, compared to analyst estimates of $180.03 million. Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The business's revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the company earned $0.51 EPS. Equities analysts expect that Kulicke and Soffa Industries, Inc. will post 1.29 earnings per share for the current fiscal year.
Kulicke and Soffa Industries Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Thursday, December 19th. This is a boost from Kulicke and Soffa Industries's previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.68%. Kulicke and Soffa Industries's dividend payout ratio (DPR) is currently -65.04%.
Kulicke and Soffa Industries declared that its Board of Directors has approved a stock repurchase program on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.
Hedge Funds Weigh In On Kulicke and Soffa Industries
A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in Kulicke and Soffa Industries by 37.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company's stock worth $52,918,000 after purchasing an additional 291,787 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Kulicke and Soffa Industries by 22.0% during the 3rd quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company's stock worth $66,319,000 after acquiring an additional 264,638 shares in the last quarter. Royce & Associates LP boosted its holdings in Kulicke and Soffa Industries by 20.3% during the 3rd quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company's stock valued at $50,154,000 after acquiring an additional 187,673 shares during the period. DDD Partners LLC acquired a new position in Kulicke and Soffa Industries in the 2nd quarter valued at about $8,163,000. Finally, Emerald Advisers LLC lifted its position in shares of Kulicke and Soffa Industries by 57.5% during the second quarter. Emerald Advisers LLC now owns 443,002 shares of the semiconductor company's stock worth $21,791,000 after purchasing an additional 161,791 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on KLIC shares. DA Davidson lowered their target price on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, November 15th. TD Cowen boosted their price target on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a "hold" rating in a research report on Friday, November 15th. Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a report on Friday, November 15th. Finally, StockNews.com cut Kulicke and Soffa Industries from a "hold" rating to a "sell" rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $52.40.
Read Our Latest Stock Analysis on KLIC
Kulicke and Soffa Industries Company Profile
(
Get Free Report)
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.
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