Kulicke and Soffa Industries (NASDAQ:KLIC) Posts Quarterly Earnings Results, Beats Expectations By $0.54 EPS

Kulicke and Soffa Industries (NASDAQ:KLICGet Rating) posted its earnings results on Wednesday. The semiconductor company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.54, Fidelity Earnings reports. Kulicke and Soffa Industries had a return on equity of 45.67% and a net margin of 29.50%. During the same period last year, the company posted $1.87 earnings per share. Kulicke and Soffa Industries updated its Q4 2022 guidance to $0.84-$1.02 EPS and its Q4 guidance to ~$0.84-1.02 EPS.

Kulicke and Soffa Industries Stock Performance

NASDAQ:KLIC traded up $0.76 during mid-day trading on Friday, hitting $50.48. 1,307,067 shares of the stock were exchanged, compared to its average volume of 849,631. The firm’s 50-day simple moving average is $46.48 and its 200 day simple moving average is $50.49. Kulicke and Soffa Industries has a fifty-two week low of $37.35 and a fifty-two week high of $75.29. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 6.26 and a beta of 1.35.

Kulicke and Soffa Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Thursday, June 23rd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, June 22nd. This represents a $0.68 annualized dividend and a yield of 1.35%. Kulicke and Soffa Industries’s payout ratio is currently 8.44%.

Analysts Set New Price Targets

Several brokerages have commented on KLIC. StockNews.com downgraded Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. DA Davidson restated a “buy” rating on shares of Kulicke and Soffa Industries in a research report on Wednesday, July 27th. Finally, B. Riley lowered their price objective on Kulicke and Soffa Industries from $59.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $79.00.

Insiders Place Their Bets

In related news, SVP Nelson Munpun Wong sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $53.78, for a total transaction of $268,900.00. Following the sale, the senior vice president now owns 166,167 shares in the company, valued at approximately $8,936,461.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.

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 KLIC. Captrust Financial Advisors lifted its stake in Kulicke and Soffa Industries by 77.3% in the first quarter. Captrust Financial Advisors now owns 6,094 shares of the semiconductor company’s stock valued at $342,000 after purchasing an additional 2,656 shares during the last quarter. Guggenheim Capital LLC increased its stake in Kulicke and Soffa Industries by 7.5% in the first quarter. Guggenheim Capital LLC now owns 6,707 shares of the semiconductor company’s stock valued at $376,000 after acquiring an additional 468 shares during the last quarter. Graham Capital Management L.P. bought a new position in shares of Kulicke and Soffa Industries during the first quarter valued at about $459,000. Eqis Capital Management Inc. grew its stake in shares of Kulicke and Soffa Industries by 54.7% during the first quarter. Eqis Capital Management Inc. now owns 9,170 shares of the semiconductor company’s stock valued at $514,000 after buying an additional 3,241 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Kulicke and Soffa Industries during the first quarter valued at about $541,000. 97.02% of the stock is owned by institutional investors.

Kulicke and Soffa Industries Company Profile

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Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through two segments, Capital Equipment, and Aftermarket Products and Services (APS). The company manufactures and sells advanced displays; die-transfer, flip-chip, and TCB advanced packaging products; ball bonder, die-attach, electronics assembly, lithography, wafer-level bonder, and wedge bonder products; consumables, such as capillaries, dicing blades, and wedge bonds; and auto offline programming, KNet PLUS, and new product introduction/manufacturing execution system software products.

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Earnings History for Kulicke and Soffa Industries (NASDAQ:KLIC)

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