Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) EVP Chan Pin Chong Sells 9,730 Shares

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) EVP Chan Pin Chong sold 9,730 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.07, for a total value of $448,261.10. Following the completion of the sale, the executive vice president now directly owns 81,916 shares of the company’s stock, valued at approximately $3,773,870.12. The trade was a 10.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Kulicke and Soffa Industries Stock Up 3.8 %

Kulicke and Soffa Industries stock traded up $1.76 during mid-day trading on Thursday, reaching $48.46. The company had a trading volume of 563,054 shares, compared to its average volume of 503,234. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -37.97 and a beta of 1.38. The company has a 50 day moving average of $44.70 and a 200-day moving average of $45.36. Kulicke and Soffa Industries, Inc. has a 52 week low of $38.20 and a 52 week high of $56.71.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $181.30 million during the quarter, compared to the consensus estimate of $180.03 million. Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. Kulicke and Soffa Industries’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 EPS. On average, analysts predict that Kulicke and Soffa Industries, Inc. will post 1.32 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.205 per share. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, December 19th. Kulicke and Soffa Industries’s payout ratio is -65.04%.

Kulicke and Soffa Industries declared that its Board of Directors has initiated a share buyback program on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Kulicke and Soffa Industries by 37.2% in the 2nd 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 during the last quarter. Copeland Capital Management LLC increased its holdings in shares of Kulicke and Soffa Industries by 22.0% during the third quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company’s stock worth $66,319,000 after buying an additional 264,638 shares in the last quarter. Royce & Associates LP raised its stake in shares of Kulicke and Soffa Industries by 20.3% in the third 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 last quarter. DDD Partners LLC acquired a new position in shares of Kulicke and Soffa Industries in the 2nd quarter worth approximately $8,163,000. Finally, Emerald Advisers LLC grew its holdings 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 during the last quarter. Institutional investors own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

KLIC has been the subject of several recent research reports. Needham & Company LLC raised shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Friday, November 15th. DA Davidson lowered their price objective on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Craig Hallum reduced their target price on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. StockNews.com downgraded Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, TD Cowen boosted their price objective on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.40.

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.