Needham & Company LLC Reiterates Buy Rating for Kulicke and Soffa Industries (NASDAQ:KLIC)

Kulicke and Soffa Industries (NASDAQ:KLIC)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $53.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 22.15% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. TD Cowen increased 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 report on Friday, November 15th. StockNews.com raised Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, DA Davidson reduced their target price on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Kulicke and Soffa Industries Trading Down 0.0 %

Shares of Kulicke and Soffa Industries stock opened at $43.39 on Thursday. Kulicke and Soffa Industries has a 12 month low of $38.20 and a 12 month high of $53.71. The firm has a market capitalization of $2.33 billion, a P/E ratio of -35.28 and a beta of 1.36. The business has a fifty day simple moving average of $47.19 and a two-hundred day simple moving average of $45.20.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. Analysts predict that Kulicke and Soffa Industries will post 1.29 earnings per share for the current year.

Kulicke and Soffa Industries declared 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 outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Kulicke and Soffa Industries

In related news, EVP Chan Pin Chong sold 9,730 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.07, for a total value of $448,261.10. Following the completion of the sale, the executive vice president now owns 81,916 shares of the company’s stock, valued at approximately $3,773,870.12. This represents a 10.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Lester A. Wong sold 60,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $46.37, for a total transaction of $2,782,200.00. Following the completion of the sale, the chief financial officer now directly owns 79,636 shares of the company’s stock, valued at approximately $3,692,721.32. This trade represents a 42.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,121 shares of company stock valued at $10,527,843. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Kulicke and Soffa Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KLIC. Advisors Asset Management Inc. raised its holdings in Kulicke and Soffa Industries by 137.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 414 shares during the period. Signaturefd LLC raised its stake in shares of Kulicke and Soffa Industries by 226.3% in the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 543 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Kulicke and Soffa Industries by 61.0% in the 4th quarter. GAMMA Investing LLC now owns 1,021 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 387 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kulicke and Soffa Industries in the third quarter valued at $53,000. Finally, Smartleaf Asset Management LLC lifted its stake in Kulicke and Soffa Industries by 397.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,149 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 918 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

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.