Zacks Investment Research lowered shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a hold rating to a sell rating in a research report sent to investors on Thursday, Zacks.com reports.
According to Zacks, “Kulicke & Soffa is a leading provider of semiconductor packaging and electronic assembly solutions supporting the global automotive, consumer, communications, computing and industrial segments. As a pioneer in the semiconductor space, K&S has provided customers with market leading packaging solutions for decades. In recent years, K&S has expanded its product offerings through strategic acquisitions and organic development, adding advanced packaging, electronics assembly, wedge bonding and a broader range of expendable tools to its core offerings. Combined with its extensive expertise in process technology and focus on development, K&S is well positioned to help customers meet the challenges of packaging and assembling the next-generation of electronic devices. “
Several other equities research analysts have also recently weighed in on the company. DA Davidson cut Kulicke and Soffa Industries from a buy rating to a neutral rating and reduced their price objective for the stock from $30.00 to $26.00 in a research note on Monday, July 8th. BidaskClub raised Kulicke and Soffa Industries from a sell rating to a hold rating in a research note on Thursday, July 18th. Finally, ValuEngine raised Kulicke and Soffa Industries from a hold rating to a buy rating in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $27.20.
Shares of NASDAQ:KLIC traded up $0.52 during mid-day trading on Thursday, reaching $22.18. The stock had a trading volume of 972,372 shares, compared to its average volume of 502,452. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.35 and a current ratio of 7.19. The firm has a market cap of $1.41 billion, a P/E ratio of 9.13, a P/E/G ratio of 3.50 and a beta of 1.34. Kulicke and Soffa Industries has a 1 year low of $17.40 and a 1 year high of $27.45. The business has a 50 day moving average of $22.30.
Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.01. Kulicke and Soffa Industries had a return on equity of 6.09% and a net margin of 5.96%. The company had revenue of $127.11 million for the quarter, compared to analysts’ expectations of $128.70 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was down 52.7% on a year-over-year basis. As a group, equities research analysts anticipate that Kulicke and Soffa Industries will post 0.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.48 annualized dividend and a yield of 2.16%. Kulicke and Soffa Industries’s payout ratio is currently 19.75%.
In other Kulicke and Soffa Industries news, Director Peter T. M. Kong bought 10,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were purchased at an average price of $19.37 per share, with a total value of $193,700.00. Following the completion of the purchase, the director now owns 64,690 shares in the company, valued at approximately $1,253,045.30. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its stake in shares of Kulicke and Soffa Industries by 103.1% during the fourth quarter. Advisory Services Network LLC now owns 1,243 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 631 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Kulicke and Soffa Industries by 758.3% during the first quarter. Versant Capital Management Inc now owns 1,399 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 1,236 shares during the last quarter. Icon Wealth Partners LLC bought a new position in shares of Kulicke and Soffa Industries during the first quarter valued at approximately $36,000. Financial Gravity Wealth Inc. grew its stake in shares of Kulicke and Soffa Industries by 348.4% during the second quarter. Financial Gravity Wealth Inc. now owns 1,780 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 1,383 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new position in shares of Kulicke and Soffa Industries during the first quarter valued at approximately $46,000. 88.98% of the stock is currently owned by hedge funds and other institutional investors.
Kulicke and Soffa Industries Company Profile
Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools to assemble semiconductor devices. It operates in two segments, Capital Equipment, and Aftermarket Products and Services (APS). The Capital Equipment segment manufactures and sells a line of ball bonders, wedge bonders, advanced packaging, and electronic assembly solutions.
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