BidaskClub cut shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a hold rating to a sell rating in a research note released on Tuesday.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Kulicke and Soffa Industries from a hold rating to a buy rating and set a $30.00 price target for the company in a research note on Wednesday, August 15th. B. Riley lifted their price target on shares of Kulicke and Soffa Industries from $38.00 to $40.00 and gave the stock a buy rating in a research note on Thursday, August 2nd. Finally, ValuEngine downgraded shares of Kulicke and Soffa Industries from a buy rating to a hold rating in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Kulicke and Soffa Industries currently has an average rating of Hold and an average price target of $29.70.

Shares of Kulicke and Soffa Industries stock opened at $26.35 on Tuesday. Kulicke and Soffa Industries has a 52-week low of $18.22 and a 52-week high of $28.71. The company has a quick ratio of 4.42, a current ratio of 5.02 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.73 billion, a P/E ratio of 17.00, a PEG ratio of 0.94 and a beta of 1.22.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings results on Thursday, May 31st. The semiconductor company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). Kulicke and Soffa Industries had a return on equity of 19.51% and a net margin of 6.93%. The firm had revenue of $221.77 million during the quarter, compared to analysts’ expectations of $221.80 million. equities research analysts anticipate that Kulicke and Soffa Industries will post 2.27 EPS for the current fiscal year.

Kulicke and Soffa Industries declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the semiconductor company to reacquire up to 5.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

In related news, Director Peter T. M. Kong acquired 5,000 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were bought at an average price of $26.89 per share, with a total value of $134,450.00. Following the completion of the acquisition, the director now owns 45,090 shares in the company, valued at $1,212,470.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory F. Milzcik acquired 4,185 shares of the business’s stock in a transaction on Tuesday, June 5th. The shares were bought at an average cost of $23.81 per share, for a total transaction of $99,644.85. Following the acquisition, the director now owns 52,807 shares of the company’s stock, valued at approximately $1,257,334.67. The disclosure for this purchase can be found here. Insiders sold 22,900 shares of company stock valued at $639,000 in the last quarter. 1.40% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Kulicke and Soffa Industries by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 926,149 shares of the semiconductor company’s stock worth $22,061,000 after purchasing an additional 14,033 shares in the last quarter. Verition Fund Management LLC raised its holdings in Kulicke and Soffa Industries by 45.3% during the second quarter. Verition Fund Management LLC now owns 12,466 shares of the semiconductor company’s stock worth $297,000 after purchasing an additional 3,885 shares in the last quarter. California Public Employees Retirement System raised its holdings in Kulicke and Soffa Industries by 1.0% during the second quarter. California Public Employees Retirement System now owns 217,446 shares of the semiconductor company’s stock worth $5,180,000 after purchasing an additional 2,199 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Kulicke and Soffa Industries by 60.2% during the second quarter. Point72 Asset Management L.P. now owns 882,108 shares of the semiconductor company’s stock worth $21,012,000 after purchasing an additional 331,508 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Kulicke and Soffa Industries by 20.2% during the second quarter. Bank of America Corp DE now owns 176,602 shares of the semiconductor company’s stock worth $4,207,000 after purchasing an additional 29,737 shares in the last quarter. 84.10% of the stock is currently owned by institutional investors.

Kulicke and Soffa Industries Company Profile

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and expendable 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, wafer level bonders, wedge bonders, advanced packaging, and electronic assembly solutions.

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