Kulicke and Soffa Industries (NASDAQ:KLIC) Issues Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Kulicke and Soffa Industries (NASDAQ:KLIC) posted its earnings results on Wednesday. The semiconductor company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.11, FiscalAI reports. Kulicke and Soffa Industries had a negative return on equity of 1.64% and a net margin of 0.03%.The firm had revenue of $199.63 million for the quarter, compared to analyst estimates of $190.03 million.

Kulicke and Soffa Industries Price Performance

NASDAQ:KLIC traded down $1.63 on Wednesday, hitting $55.57. 822,814 shares of the company’s stock were exchanged, compared to its average volume of 738,051. The company has a market cap of $2.91 billion, a P/E ratio of -2,777.31 and a beta of 1.67. The firm has a 50-day moving average price of $51.15 and a 200-day moving average price of $42.81. Kulicke and Soffa Industries has a 52 week low of $26.63 and a 52 week high of $60.00.

Kulicke and Soffa Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Thursday, December 18th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.5%. The ex-dividend date was Thursday, December 18th. Kulicke and Soffa Industries’s payout ratio is presently -4,100.00%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on KLIC shares. DA Davidson reiterated a “buy” rating and set a $55.00 price objective on shares of Kulicke and Soffa Industries in a report on Friday, November 21st. B. Riley reaffirmed a “neutral” rating and issued a $39.00 price target (up previously from $35.00) on shares of Kulicke and Soffa Industries in a research note on Friday, November 21st. Needham & Company LLC increased their price objective on shares of Kulicke and Soffa Industries from $57.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Kulicke and Soffa Industries in a report on Monday, December 29th. Finally, Zacks Research lowered shares of Kulicke and Soffa Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kulicke and Soffa Industries has a consensus rating of “Hold” and a consensus target price of $49.00.

Insider Activity

In related news, SVP Nelson Munpun Wong sold 30,000 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $56.53, for a total transaction of $1,695,900.00. Following the completion of the transaction, the senior vice president directly owned 126,369 shares of the company’s stock, valued at approximately $7,143,639.57. This represents a 19.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Zi Yao Lim sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the general counsel owned 23,714 shares of the company’s stock, valued at approximately $1,067,130. This represents a 4.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,204 shares of company stock worth $2,003,450 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KLIC. Royal Bank of Canada raised its holdings in shares of Kulicke and Soffa Industries by 10.0% in the 1st quarter. Royal Bank of Canada now owns 64,220 shares of the semiconductor company’s stock valued at $2,118,000 after purchasing an additional 5,836 shares during the period. AQR Capital Management LLC lifted its position in shares of Kulicke and Soffa Industries by 168.8% in the first quarter. AQR Capital Management LLC now owns 49,445 shares of the semiconductor company’s stock valued at $1,631,000 after buying an additional 31,048 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Kulicke and Soffa Industries by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,080 shares of the semiconductor company’s stock worth $1,025,000 after acquiring an additional 877 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Kulicke and Soffa Industries by 8.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,842 shares of the semiconductor company’s stock valued at $5,140,000 after acquiring an additional 11,522 shares during the period. Finally, Jane Street Group LLC raised its stake in Kulicke and Soffa Industries by 55.7% in the 1st quarter. Jane Street Group LLC now owns 66,898 shares of the semiconductor company’s stock valued at $2,206,000 after acquiring an additional 23,923 shares during the period. Institutional investors own 98.22% of the company’s stock.

Kulicke and Soffa Industries Company Profile

Kulicke & Soffa Industries (NASDAQ:KLIC) is a global supplier of semiconductor and LED assembly equipment. The company specializes in the design, development and manufacture of advanced die bonding, wire bonding, flip-chip bumping and wafer-level packaging systems. Its solutions support a wide range of applications in consumer electronics, automotive, communications and other high-growth segments within the semiconductor and LED industries.

Key products include precision wire bonders for microelectronic packaging, die attach systems for chip placement, flip-chip bonders for advanced packaging architectures and LED packaging platforms that enable high-volume production of automotive and general-illumination LEDs.