Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) CFO Sells $2,782,200.00 in Stock

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) CFO Lester A. Wong sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $46.37, for a total transaction of $2,782,200.00. Following the completion of the transaction, the chief financial officer now directly owns 79,636 shares of the company’s stock, valued at approximately $3,692,721.32. This represents a 42.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kulicke and Soffa Industries Stock Up 1.5 %

Shares of NASDAQ:KLIC opened at $49.17 on Friday. The company has a market cap of $2.65 billion, a PE ratio of -39.98 and a beta of 1.38. 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 50-day simple moving average of $45.06 and a 200 day simple moving average of $45.39.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $181.30 million for the quarter, compared to the consensus estimate of $180.03 million. Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. As a group, research analysts forecast that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current fiscal year.

Kulicke and Soffa Industries declared that its board has approved a stock repurchase program on Wednesday, November 13th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 11.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Kulicke and Soffa Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 1.67%. 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%.

Institutional Trading of Kulicke and Soffa Industries

Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Kulicke and Soffa Industries by 1.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,735 shares of the semiconductor company’s stock worth $891,000 after purchasing an additional 250 shares during the last quarter. Creative Planning grew its holdings in Kulicke and Soffa Industries by 3.4% in the 2nd quarter. Creative Planning now owns 11,384 shares of the semiconductor company’s stock worth $560,000 after buying an additional 372 shares in the last quarter. Advisors Asset Management Inc. increased its position in Kulicke and Soffa Industries by 137.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 414 shares during the period. Meritage Portfolio Management raised its stake in Kulicke and Soffa Industries by 9.4% during the 3rd quarter. Meritage Portfolio Management now owns 6,054 shares of the semiconductor company’s stock valued at $273,000 after acquiring an additional 519 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Kulicke and Soffa Industries by 226.3% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 543 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KLIC. DA Davidson decreased their target price on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, November 15th. Craig Hallum lowered their price objective on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. TD Cowen increased their target price on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research report on Friday, November 15th. Finally, StockNews.com cut shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $52.40.

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.