Zacks Investment Research upgraded shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) from a hold rating to a buy rating in a research note released on Wednesday morning. Zacks Investment Research currently has $22.00 price objective on the semiconductor company’s stock.

According to Zacks, “Kulicke and Soffa Inds. designs, manufactures and markets capital equipment and packaging materials for sale to companies that manufacture and assemble semiconductor devices. They also service, maintain, repair and upgrade assembly equipment. They are one of the world’s largest suppliers of semiconductor assembly equipment. The company’s business is divided into three segments: equipment, packaging materials and advanced packaging technology. “

Several other equities analysts also recently issued reports on KLIC. B. Riley reiterated a buy rating and set a $29.50 price objective on shares of Kulicke and Soffa Industries in a research report on Tuesday, May 9th. ValuEngine upgraded Kulicke and Soffa Industries from a hold rating to a buy rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded Kulicke and Soffa Industries from a strong-buy rating to a buy rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $26.50.

Kulicke and Soffa Industries (NASDAQ:KLIC) traded down 2.07% during mid-day trading on Wednesday, hitting $18.48. The stock had a trading volume of 422,015 shares. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 15.36 and a beta of 1.27. Kulicke and Soffa Industries has a 12-month low of $11.29 and a 12-month high of $23.00. The company has a 50-day moving average of $19.72 and a 200-day moving average of $20.60.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.21. The business had revenue of $243.90 million during the quarter, compared to the consensus estimate of $245.02 million. Kulicke and Soffa Industries had a return on equity of 11.88% and a net margin of 11.61%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, analysts anticipate that Kulicke and Soffa Industries will post $1.40 earnings per share for the current fiscal year.

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Kulicke and Soffa Industries declared that its Board of Directors has initiated a stock buyback program on Tuesday, August 15th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Several hedge funds and other institutional investors have recently modified their holdings of KLIC. Creative Planning boosted its position in shares of Kulicke and Soffa Industries by 9.7% during the first quarter. Creative Planning now owns 6,765 shares of the semiconductor company’s stock worth $137,000 after buying an additional 600 shares during the period. Bank of Montreal Can lifted its position in Kulicke and Soffa Industries by 153.5% in the first quarter. Bank of Montreal Can now owns 8,611 shares of the semiconductor company’s stock worth $175,000 after purchasing an additional 5,214 shares during the period. Louisiana State Employees Retirement System lifted its position in Kulicke and Soffa Industries by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the semiconductor company’s stock worth $587,000 after purchasing an additional 400 shares during the period. State of Alaska Department of Revenue lifted its position in Kulicke and Soffa Industries by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 7,830 shares of the semiconductor company’s stock worth $159,000 after purchasing an additional 210 shares during the period. Finally, Nationwide Fund Advisors lifted its position in Kulicke and Soffa Industries by 17.8% in the first quarter. Nationwide Fund Advisors now owns 74,254 shares of the semiconductor company’s stock worth $1,509,000 after purchasing an additional 11,200 shares during the period. Institutional investors and hedge funds own 84.91% of the company’s stock.

Kulicke and Soffa Industries Company Profile

Kulicke and Soffa Industries, Inc designs, manufactures and sells capital equipment and expendable tools, as well as services, maintains, repairs and upgrades equipment, all used to assemble semiconductor devices. The Company supplies a range of bonding equipment. The Company operates through two segments: Equipment and Expendable Tools.

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