Kulicke and Soffa Industries (NASDAQ:KLIC) Downgraded to Hold at BidaskClub

BidaskClub cut shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a buy rating to a hold rating in a report released on Saturday morning, BidAskClub reports.

KLIC has been the topic of several other research reports. B. Riley restated a buy rating and issued a $32.00 price objective on shares of Kulicke and Soffa Industries in a research report on Monday, November 11th. ValuEngine lowered Kulicke and Soffa Industries from a strong-buy rating to a buy rating in a research report on Wednesday, October 2nd. Zacks Investment Research lowered Kulicke and Soffa Industries from a hold rating to a sell rating in a research report on Thursday, October 3rd. Finally, Cowen increased their target price on Kulicke and Soffa Industries from $23.00 to $25.00 and gave the company a market perform rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $28.25.

Kulicke and Soffa Industries stock traded up $0.40 during mid-day trading on Friday, hitting $23.16. The company had a trading volume of 38,928 shares, compared to its average volume of 359,887. The company has a current ratio of 5.12, a quick ratio of 4.61 and a debt-to-equity ratio of 0.02. Kulicke and Soffa Industries has a 12-month low of $17.40 and a 12-month high of $26.95. The company’s fifty day moving average is $23.85 and its 200-day moving average is $22.16. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 50.57 and a beta of 1.36.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings data on Thursday, November 14th. The semiconductor company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. Kulicke and Soffa Industries had a return on equity of 3.72% and a net margin of 2.16%. The business had revenue of $139.80 million for the quarter, compared to analyst estimates of $140.11 million. During the same quarter in the prior year, the firm posted $0.45 EPS. The business’s quarterly revenue was down 24.4% compared to the same quarter last year. As a group, sell-side analysts expect that Kulicke and Soffa Industries will post 1.21 EPS for the current fiscal year.

In other news, Director Brian R. Bachman sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the transaction, the director now owns 23,293 shares in the company, valued at approximately $582,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.80% of the company’s stock.

Several large investors have recently made changes to their positions in KLIC. Financial Gravity Wealth Inc. lifted its position in shares of Kulicke and Soffa Industries by 348.4% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 1,780 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 1,383 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Kulicke and Soffa Industries during the 2nd quarter valued at approximately $51,000. Tower Research Capital LLC TRC lifted its holdings in Kulicke and Soffa Industries by 25,411.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,296 shares of the semiconductor company’s stock valued at $52,000 after purchasing an additional 2,287 shares in the last quarter. Quantamental Technologies LLC lifted its holdings in Kulicke and Soffa Industries by 31.2% in the 2nd quarter. Quantamental Technologies LLC now owns 3,378 shares of the semiconductor company’s stock valued at $76,000 after purchasing an additional 804 shares in the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in Kulicke and Soffa Industries by 56.2% in the 3rd quarter. First Mercantile Trust Co. now owns 8,385 shares of the semiconductor company’s stock valued at $197,000 after purchasing an additional 3,016 shares in the last quarter. Hedge funds and other institutional investors own 82.37% of the company’s stock.

About Kulicke and Soffa Industries

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.

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