Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) saw unusually-strong trading volume on Wednesday following a better than expected earnings announcement. Approximately 3,460,700 shares changed hands during trading, an increase of 550% from the previous session’s volume of 532,825 shares.The stock last traded at $28.52 and had previously closed at $23.69.

The semiconductor company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.15. Kulicke and Soffa Industries had a return on equity of 11.88% and a net margin of 11.61%. The firm had revenue of $215.89 million for the quarter, compared to analysts’ expectations of $208.20 million. During the same period last year, the firm earned $0.15 EPS. The company’s quarterly revenue was up 48.0% on a year-over-year basis.

Kulicke and Soffa Industries announced that its board has approved a share buyback plan on Tuesday, August 15th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

A number of equities research analysts have recently commented on KLIC shares. Zacks Investment Research upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, September 6th. BidaskClub cut Kulicke and Soffa Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. B. Riley restated a “buy” rating and set a $31.00 target price on shares of Kulicke and Soffa Industries in a research report on Monday. ValuEngine upgraded Kulicke and Soffa Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Bank of America Corporation lifted their price objective on Kulicke and Soffa Industries from $15.50 to $18.50 and gave the stock an “underperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $26.63.

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in Kulicke and Soffa Industries by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,993,880 shares of the semiconductor company’s stock worth $129,288,000 after buying an additional 22,569 shares during the last quarter. BlackRock Inc. boosted its holdings in Kulicke and Soffa Industries by 909,858.7% in the 1st quarter. BlackRock Inc. now owns 5,532,549 shares of the semiconductor company’s stock worth $112,421,000 after buying an additional 5,531,941 shares during the last quarter. Royce & Associates LP boosted its holdings in Kulicke and Soffa Industries by 17.5% in the 3rd quarter. Royce & Associates LP now owns 2,946,089 shares of the semiconductor company’s stock worth $63,547,000 after buying an additional 438,168 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Kulicke and Soffa Industries in the 3rd quarter worth about $61,608,000. Finally, Vanguard Group Inc. boosted its holdings in Kulicke and Soffa Industries by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,033,595 shares of the semiconductor company’s stock worth $38,679,000 after buying an additional 209,884 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

The company has a debt-to-equity ratio of 0.02, a current ratio of 4.83 and a quick ratio of 4.20. The firm has a market cap of $1,684.31, a price-to-earnings ratio of 17.04, a PEG ratio of 1.11 and a beta of 1.34.

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About Kulicke and Soffa Industries

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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