Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target Cut to $50.00 by Analysts at Craig Hallum

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price objective reduced by Craig Hallum from $55.00 to $50.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities analysts have also commented on KLIC. TD Cowen lowered their target price on Kulicke and Soffa Industries from $52.00 to $45.00 and set a hold rating for the company in a report on Thursday. Needham & Company LLC reaffirmed a hold rating on shares of Kulicke and Soffa Industries in a report on Friday, May 3rd. Finally, B. Riley lowered their target price on Kulicke and Soffa Industries from $54.00 to $47.00 and set a neutral rating for the company in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Kulicke and Soffa Industries has a consensus rating of Hold and a consensus price target of $47.33.

Kulicke and Soffa Industries Stock Performance

Shares of NASDAQ KLIC traded down $0.40 during midday trading on Thursday, reaching $40.46. 612,936 shares of the company’s stock were exchanged, compared to its average volume of 492,055. The stock has a market capitalization of $2.24 billion, a PE ratio of -34.00 and a beta of 1.40. Kulicke and Soffa Industries has a 52-week low of $38.53 and a 52-week high of $56.71. The business’s fifty day moving average price is $46.88 and its two-hundred day moving average price is $47.86.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The firm had revenue of $181.70 million during the quarter, compared to analyst estimates of $179.28 million. Kulicke and Soffa Industries had a positive return on equity of 2.22% and a negative net margin of 8.94%. Kulicke and Soffa Industries’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. Analysts predict that Kulicke and Soffa Industries will post -0.31 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Thursday, June 20th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.80 annualized dividend and a dividend yield of 1.98%. Kulicke and Soffa Industries’s dividend payout ratio is presently -67.23%.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC boosted its position in shares of Kulicke and Soffa Industries by 29.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,194 shares of the semiconductor company’s stock worth $65,000 after buying an additional 272 shares during the period. CWM LLC lifted its position in Kulicke and Soffa Industries by 53.4% in the first quarter. CWM LLC now owns 1,195 shares of the semiconductor company’s stock worth $60,000 after purchasing an additional 416 shares during the period. SRS Capital Advisors Inc. lifted its position in Kulicke and Soffa Industries by 340.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 443 shares during the period. Texas Permanent School Fund Corp lifted its position in Kulicke and Soffa Industries by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 49,309 shares of the semiconductor company’s stock worth $2,481,000 after purchasing an additional 525 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in Kulicke and Soffa Industries by 1.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 33,510 shares of the semiconductor company’s stock worth $1,834,000 after purchasing an additional 562 shares during the period. 98.22% 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 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.