Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target Raised to $83.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price target upped by Craig Hallum from $61.00 to $83.00 in a research report report published on Tuesday, The Fly reports. They currently have a buy rating on the semiconductor company’s stock.

Several other brokerages also recently weighed in on KLIC. Zacks Investment Research downgraded Kulicke and Soffa Industries from a strong-buy rating to a hold rating in a research note on Wednesday, April 7th. Needham & Company LLC assumed coverage on Kulicke and Soffa Industries in a research report on Monday. They set a buy rating and a $64.00 price target for the company. Finally, B. Riley boosted their price target on Kulicke and Soffa Industries from $69.00 to $75.00 and gave the stock a buy rating in a research report on Tuesday. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $64.80.

Kulicke and Soffa Industries stock opened at $53.74 on Tuesday. Kulicke and Soffa Industries has a 52 week low of $20.10 and a 52 week high of $56.67. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 64.75 and a beta of 1.18. The stock has a 50-day moving average price of $49.64 and a 200 day moving average price of $38.13.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its earnings results on Tuesday, February 2nd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.11. The business had revenue of $267.86 million during the quarter, compared to the consensus estimate of $265.00 million. Kulicke and Soffa Industries had a return on equity of 7.92% and a net margin of 8.39%. On average, analysts expect that Kulicke and Soffa Industries will post 1.35 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 12th. Shareholders of record on Thursday, March 25th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, March 24th. Kulicke and Soffa Industries’s payout ratio is currently 58.95%.

In related news, Director Gregory F. Milzcik bought 2,310 shares of the company’s stock in a transaction on Tuesday, February 9th. The stock was bought at an average cost of $43.31 per share, for a total transaction of $100,046.10. Following the acquisition, the director now directly owns 71,904 shares in the company, valued at $3,114,162.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Lester A. Wong sold 33,000 shares of the company’s stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $50.55, for a total value of $1,668,150.00. Following the completion of the sale, the chief financial officer now owns 131,256 shares of the company’s stock, valued at $6,634,990.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,078 shares of company stock valued at $2,345,868. 1.40% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Kulicke and Soffa Industries by 3.4% in the 4th quarter. BlackRock Inc. now owns 6,410,783 shares of the semiconductor company’s stock valued at $203,927,000 after purchasing an additional 211,541 shares during the last quarter. Neumeier Poma Investment Counsel LLC lifted its stake in Kulicke and Soffa Industries by 31.7% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 1,639,278 shares of the semiconductor company’s stock worth $52,145,000 after acquiring an additional 394,865 shares in the last quarter. Norges Bank acquired a new position in Kulicke and Soffa Industries during the 4th quarter worth about $27,027,000. Hood River Capital Management LLC acquired a new position in Kulicke and Soffa Industries during the 4th quarter worth about $26,325,000. Finally, Morgan Stanley lifted its stake in Kulicke and Soffa Industries by 245.7% during the 4th quarter. Morgan Stanley now owns 579,778 shares of the semiconductor company’s stock worth $18,442,000 after acquiring an additional 412,076 shares in the last quarter. 82.56% of the stock is currently owned by institutional investors and hedge funds.

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 ball and wedge bonders, and advanced packaging and electronic assembly solutions.

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