Bayforest Capital Ltd Invests $398,000 in Kulicke and Soffa Industries, Inc. $KLIC

Bayforest Capital Ltd acquired a new position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) during the 2nd quarter, HoldingsChannel reports. The fund acquired 11,508 shares of the semiconductor company’s stock, valued at approximately $398,000.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Kulicke and Soffa Industries by 789.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 925 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 821 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Kulicke and Soffa Industries during the 2nd quarter valued at approximately $34,000. Fifth Third Bancorp lifted its position in shares of Kulicke and Soffa Industries by 99.7% during the 1st quarter. Fifth Third Bancorp now owns 1,214 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 606 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Kulicke and Soffa Industries by 280.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,234 shares of the semiconductor company’s stock valued at $41,000 after buying an additional 910 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in Kulicke and Soffa Industries by 1,763.5% during the first quarter. Federated Hermes Inc. now owns 1,379 shares of the semiconductor company’s stock valued at $45,000 after purchasing an additional 1,305 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kulicke and Soffa Industries

In other news, SVP Nelson Munpun Wong sold 30,000 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $37.07, for a total transaction of $1,112,100.00. Following the sale, the senior vice president owned 147,533 shares of the company’s stock, valued at approximately $5,469,048.31. The trade was a 16.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.40% of the company’s stock.

Kulicke and Soffa Industries Price Performance

KLIC opened at $40.06 on Thursday. Kulicke and Soffa Industries, Inc. has a 1-year low of $26.63 and a 1-year high of $52.08. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 500.75 and a beta of 1.57. The company’s 50 day simple moving average is $38.88 and its two-hundred day simple moving average is $35.13.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Kulicke and Soffa Industries had a negative return on equity of 1.06% and a net margin of 0.90%.The firm had revenue of $148.41 million for the quarter, compared to the consensus estimate of $145.48 million. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was down 18.3% compared to the same quarter last year. On average, equities analysts anticipate that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Thursday, September 18th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, September 18th. Kulicke and Soffa Industries’s payout ratio is presently 1,025.00%.

Analyst Ratings Changes

A number of brokerages recently weighed in on KLIC. TD Cowen raised their price target on shares of Kulicke and Soffa Industries from $36.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, August 7th. Needham & Company LLC raised their target price on Kulicke and Soffa Industries from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Kulicke and Soffa Industries in a research report on Wednesday, October 8th. Finally, B. Riley raised their target price on Kulicke and Soffa Industries from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $42.00.

About Kulicke and Soffa Industries

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services (APS). The company offers ball bonding equipment, wafer level bonding equipment, wedge bonding equipment; and advanced display, die-attach, and thermocompression systems and solutions, as well as tools, spares and services for equipment.