Kulicke and Soffa Industries (NASDAQ:KLIC) Stock Price Target Cut by B. Riley Financial

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price objective reduced by research analysts at B. Riley Financial from $86.00 to $70.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the semiconductor company’s stock. B. Riley Financial‘s target price would suggest a potential upside of 3.48% from the stock’s current price.

Several other research firms have also weighed in on KLIC. Weiss Ratings restated a “hold (c)” rating on shares of Kulicke and Soffa Industries in a report on Wednesday. Needham & Company LLC raised their price target on Kulicke and Soffa Industries from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Zacks Research lowered shares of Kulicke and Soffa Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.00.

Kulicke and Soffa Industries Price Performance

Shares of Kulicke and Soffa Industries stock traded up $3.63 on Monday, reaching $67.64. The company had a trading volume of 43,881 shares, compared to its average volume of 834,202. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 31.01 and a beta of 1.65. The firm’s 50-day moving average price is $82.98 and its two-hundred day moving average price is $86.41. Kulicke and Soffa Industries has a 1 year low of $35.02 and a 1 year high of $135.80.

Institutional Trading of Kulicke and Soffa Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co purchased a new position in shares of Kulicke and Soffa Industries during the third quarter valued at approximately $270,000. Aberdeen Group plc bought a new position in shares of Kulicke and Soffa Industries during the third quarter valued at approximately $9,865,000. Maryland State Retirement & Pension System grew its stake in shares of Kulicke and Soffa Industries by 52.3% during the third quarter. Maryland State Retirement & Pension System now owns 11,619 shares of the semiconductor company’s stock valued at $1,095,000 after buying an additional 3,989 shares during the last quarter. Van Berkom & Associates Inc. raised its holdings in shares of Kulicke and Soffa Industries by 133.4% in the third quarter. Van Berkom & Associates Inc. now owns 45,202 shares of the semiconductor company’s stock worth $4,260,000 after buying an additional 25,833 shares during the period. Finally, Fulcrum Asset Management LLP raised its holdings in shares of Kulicke and Soffa Industries by 342.8% in the third quarter. Fulcrum Asset Management LLP now owns 14,029 shares of the semiconductor company’s stock worth $1,315,000 after buying an additional 10,861 shares during the period. 98.22% of the stock is owned by hedge funds and other institutional investors.

About Kulicke and Soffa Industries

Kulicke and Soffa Industries develops and supplies equipment and services used to assemble and package semiconductor devices. Its offerings include ball and wedge wire bonders, die-attach and advanced-packaging equipment, as well as related tools, spare parts and support services.

Founded in 1951, the company has a long history in semiconductor assembly technology. Its products serve manufacturers in markets including semiconductors, automotive electronics, communications, consumer electronics and industrial applications.

Kulicke and Soffa serves customers around the world through its international operations and support network.