Everence Capital Management Inc. Acquires New Holdings in Kulicke and Soffa Industries Inc. (KLIC)

Everence Capital Management Inc. acquired a new stake in Kulicke and Soffa Industries Inc. (NASDAQ:KLIC) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 9,850 shares of the semiconductor company’s stock, valued at approximately $218,000.

Other large investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its holdings in shares of Kulicke and Soffa Industries by 56.4% in the fourth quarter. Proficio Capital Partners LLC now owns 1,472 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 531 shares during the last quarter. Norges Bank acquired a new position in shares of Kulicke and Soffa Industries in the fourth quarter valued at $31,408,000. AlphaCrest Capital Management LLC acquired a new position in shares of Kulicke and Soffa Industries in the fourth quarter valued at $722,000. Great West Life Assurance Co. Can increased its holdings in shares of Kulicke and Soffa Industries by 5.1% in the fourth quarter. Great West Life Assurance Co. Can now owns 87,459 shares of the semiconductor company’s stock valued at $1,636,000 after purchasing an additional 4,255 shares during the last quarter. Finally, Hodges Capital Management Inc. acquired a new position in shares of Kulicke and Soffa Industries in the first quarter valued at $221,000. Hedge funds and other institutional investors own 92.66% of the company’s stock.

Several equities analysts have commented on KLIC shares. BidaskClub upgraded shares of Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Cowen reissued a “hold” rating and issued a $22.00 target price on shares of Kulicke and Soffa Industries in a research report on Monday, February 4th. Finally, Zacks Investment Research raised shares of Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $28.40.

Shares of Kulicke and Soffa Industries stock opened at $19.18 on Tuesday. The stock has a market capitalization of $1.25 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 2.54 and a beta of 1.16. Kulicke and Soffa Industries Inc. has a 52-week low of $17.40 and a 52-week high of $28.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.19 and a quick ratio of 6.35.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.06). The business had revenue of $115.90 million during the quarter, compared to the consensus estimate of $118.42 million. Kulicke and Soffa Industries had a net margin of 12.91% and a return on equity of 12.85%. The company’s revenue was down 47.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 EPS. As a group, analysts anticipate that Kulicke and Soffa Industries Inc. will post 0.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.50%. Kulicke and Soffa Industries’s payout ratio is presently 19.75%.

Kulicke and Soffa Industries announced that its Board of Directors has initiated a share buyback plan on Thursday, January 31st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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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.

Further Reading: Oversold

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Institutional Ownership by Quarter for Kulicke and Soffa Industries (NASDAQ:KLIC)

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