Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Director Chin Hu Lim Sells 30,000 Shares

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Director Chin Hu Lim sold 30,000 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $48.11, for a total value of $1,443,300.00. Following the completion of the sale, the director now directly owns 59,701 shares of the company’s stock, valued at $2,872,215.11. The trade was a 33.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kulicke and Soffa Industries Stock Performance

NASDAQ:KLIC opened at $48.84 on Wednesday. Kulicke and Soffa Industries, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $56.71. The firm has a market cap of $2.63 billion, a P/E ratio of -39.71 and a beta of 1.38. The firm has a 50-day simple moving average of $46.50 and a two-hundred day simple moving average of $45.46.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share 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 business had revenue of $181.30 million during the quarter, compared to analysts’ expectations of $180.03 million. During the same period last year, the firm posted $0.51 EPS. Kulicke and Soffa Industries’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts predict that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

Kulicke and Soffa Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.68%. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is presently -65.04%.

Kulicke and Soffa Industries announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen lifted their price objective on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 15th. Needham & Company LLC raised shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, November 15th. StockNews.com cut shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Finally, DA Davidson lowered their target price on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Kulicke and Soffa Industries has a consensus rating of “Hold” and a consensus price target of $52.40.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its holdings in Kulicke and Soffa Industries by 85.2% in the 3rd quarter. Barclays PLC now owns 96,604 shares of the semiconductor company’s stock valued at $4,361,000 after acquiring an additional 44,429 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Kulicke and Soffa Industries during the third quarter valued at $53,000. Kovitz Investment Group Partners LLC raised its stake in shares of Kulicke and Soffa Industries by 27.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 88,712 shares of the semiconductor company’s stock valued at $3,977,000 after acquiring an additional 19,279 shares during the period. Stifel Financial Corp lifted its holdings in shares of Kulicke and Soffa Industries by 32.4% in the 3rd quarter. Stifel Financial Corp now owns 48,328 shares of the semiconductor company’s stock worth $2,181,000 after acquiring an additional 11,836 shares during the last quarter. Finally, Systematic Financial Management LP boosted its stake in shares of Kulicke and Soffa Industries by 59.7% during the 3rd quarter. Systematic Financial Management LP now owns 140,269 shares of the semiconductor company’s stock worth $6,330,000 after purchasing an additional 52,419 shares during the period. 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.