BidaskClub Downgrades Kulicke and Soffa Industries (NASDAQ:KLIC) to Sell

BidaskClub lowered shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a hold rating to a sell rating in a research note released on Saturday morning, BidAskClub reports.

A number of other analysts have also recently commented on the company. B. Riley boosted their price target on Kulicke and Soffa Industries from $26.00 to $29.00 and gave the stock a buy rating in a research report on Friday, May 1st. Zacks Investment Research cut Kulicke and Soffa Industries from a hold rating to a sell rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Kulicke and Soffa Industries presently has an average rating of Hold and a consensus price target of $29.20.

Shares of KLIC opened at $20.20 on Friday. The business’s 50 day moving average price is $22.42 and its 200-day moving average price is $23.98. Kulicke and Soffa Industries has a 52 week low of $16.91 and a 52 week high of $28.66. The stock has a market cap of $1.30 billion, a P/E ratio of 38.85 and a beta of 1.26.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings results on Wednesday, April 29th. The semiconductor company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. Kulicke and Soffa Industries had a return on equity of 5.47% and a net margin of 5.88%. The firm had revenue of $150.74 million for the quarter, compared to analysts’ expectations of $144.30 million. As a group, sell-side analysts forecast that Kulicke and Soffa Industries will post 0.8 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Investors of record on Friday, June 26th will be given a $0.12 dividend. The ex-dividend date is Thursday, June 25th. This represents a $0.48 annualized dividend and a yield of 2.38%. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is presently 104.35%.

A number of hedge funds have recently added to or reduced their stakes in KLIC. State Street Corp raised its stake in Kulicke and Soffa Industries by 16.6% during the 1st quarter. State Street Corp now owns 908,091 shares of the semiconductor company’s stock valued at $19,059,000 after buying an additional 129,451 shares during the last quarter. Royal Bank of Canada raised its stake in Kulicke and Soffa Industries by 708.9% during the 1st quarter. Royal Bank of Canada now owns 189,928 shares of the semiconductor company’s stock valued at $3,964,000 after buying an additional 166,447 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in Kulicke and Soffa Industries by 48.9% during the 1st quarter. Van Berkom & Associates Inc. now owns 174,369 shares of the semiconductor company’s stock valued at $3,639,000 after buying an additional 57,300 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Kulicke and Soffa Industries by 71.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 339,317 shares of the semiconductor company’s stock valued at $7,082,000 after buying an additional 141,149 shares during the last quarter. Finally, Advisor Group Holdings Inc. purchased a new stake in Kulicke and Soffa Industries during the 1st quarter valued at $142,000. 87.03% of the stock is currently owned by institutional investors and hedge funds.

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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