DA Davidson Cuts Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target to $55.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its target price lowered by DA Davidson from $60.00 to $55.00 in a report released on Thursday morning,Benzinga reports. DA Davidson currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also commented on KLIC. Needham & Company LLC reduced their price objective on shares of Kulicke and Soffa Industries from $53.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com raised Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Finally, TD Cowen decreased their price objective on Kulicke and Soffa Industries from $50.00 to $36.00 and set a “hold” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kulicke and Soffa Industries currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Kulicke and Soffa Industries Stock Up 0.4 %

Shares of NASDAQ:KLIC opened at $31.85 on Thursday. The firm has a 50 day moving average of $32.83 and a 200 day moving average of $41.27. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 265.42 and a beta of 1.53. Kulicke and Soffa Industries has a 52 week low of $26.63 and a 52 week high of $53.71.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.71). Kulicke and Soffa Industries had a negative return on equity of 1.26% and a net margin of 0.48%. The company had revenue of $161.99 million for the quarter, compared to analysts’ expectations of $165.10 million. During the same quarter last year, the company earned ($0.95) earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, sell-side analysts expect that Kulicke and Soffa Industries will post 0.93 EPS for the current year.

Kulicke and Soffa Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Thursday, March 20th were issued a $0.205 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.57%. Kulicke and Soffa Industries’s dividend payout ratio is currently 683.33%.

Institutional Investors Weigh In On Kulicke and Soffa Industries

A number of large investors have recently made changes to their positions in KLIC. Summit Securities Group LLC purchased a new stake in Kulicke and Soffa Industries during the 4th quarter valued at about $37,000. GAMMA Investing LLC boosted its position in Kulicke and Soffa Industries by 61.0% in the fourth quarter. GAMMA Investing LLC now owns 1,021 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 387 shares during the last quarter. Signaturefd LLC boosted its position in Kulicke and Soffa Industries by 35.5% in the fourth quarter. Signaturefd LLC now owns 1,061 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 278 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Kulicke and Soffa Industries by 397.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,149 shares of the semiconductor company’s stock worth $53,000 after buying an additional 918 shares during the period. Finally, Menard Financial Group LLC purchased a new position in Kulicke and Soffa Industries during the 4th quarter worth approximately $54,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

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.