Nelson Munpun Wong Sells 30,000 Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Stock

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) SVP Nelson Munpun Wong sold 30,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $47.56, for a total transaction of $1,426,800.00. Following the transaction, the senior vice president now owns 177,533 shares of the company’s stock, valued at approximately $8,443,469.48. This trade represents a 14.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Kulicke and Soffa Industries Stock Up 1.5 %

Shares of KLIC opened at $49.17 on Friday. Kulicke and Soffa Industries, Inc. has a 52-week low of $38.20 and a 52-week high of $56.71. The stock has a fifty day simple moving average of $45.06 and a two-hundred day simple moving average of $45.39. The company has a market capitalization of $2.65 billion, a PE ratio of -39.98 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. The firm had revenue of $181.30 million for the quarter, compared to analyst estimates of $180.03 million. During the same quarter in the prior year, the business earned $0.51 EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, equities analysts anticipate that Kulicke and Soffa Industries, Inc. will post 1.29 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, December 19th. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s dividend payout ratio is -65.04%.

Kulicke and Soffa Industries announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the semiconductor company to purchase up to 11.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KLIC. Needham & Company LLC raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Friday, November 15th. Craig Hallum decreased their price objective on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. TD Cowen lifted their target price on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 15th. StockNews.com cut shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, DA Davidson lowered their price target on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Kulicke and Soffa Industries presently has a consensus rating of “Hold” and a consensus price target of $52.40.

Institutional Trading of Kulicke and Soffa Industries

Several institutional investors and hedge funds have recently bought and sold shares of KLIC. Advisors Asset Management Inc. boosted its stake in Kulicke and Soffa Industries by 137.5% during the third quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock worth $32,000 after buying an additional 414 shares during the period. Signaturefd LLC lifted its stake in Kulicke and Soffa Industries by 226.3% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 543 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kulicke and Soffa Industries during the third quarter worth about $53,000. Blue Trust Inc. grew its holdings in shares of Kulicke and Soffa Industries by 17,075.0% in the second quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 1,366 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Kulicke and Soffa Industries during the 2nd quarter worth approximately $73,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.