Kulicke and Soffa Industries (NASDAQ:KLIC) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a hold rating to a sell rating in a report published on Thursday morning.

A number of other research firms have also weighed in on KLIC. Craig Hallum cut their target price on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. TD Cowen cut their target price on shares of Kulicke and Soffa Industries from $52.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $47.33.

Kulicke and Soffa Industries Stock Performance

Shares of KLIC opened at $45.58 on Thursday. The stock has a market capitalization of $2.48 billion, a PE ratio of -43.83 and a beta of 1.38. Kulicke and Soffa Industries has a 1 year low of $38.20 and a 1 year high of $56.71. The company’s 50-day simple moving average is $43.14 and its 200-day simple moving average is $45.26.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. The business had revenue of $181.70 million for the quarter, compared to analysts’ expectations of $179.28 million. Kulicke and Soffa Industries had a negative net margin of 7.94% and a positive return on equity of 0.61%. The business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, sell-side analysts predict that Kulicke and Soffa Industries will post -0.45 earnings per share for the current year.

Kulicke and Soffa Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Thursday, September 19th were paid a $0.20 dividend. The ex-dividend date was Thursday, September 19th. This represents a $0.80 annualized dividend and a yield of 1.76%. Kulicke and Soffa Industries’s dividend payout ratio is currently -76.92%.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Several hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in Kulicke and Soffa Industries by 14.1% in the third quarter. Assetmark Inc. now owns 24,081 shares of the semiconductor company’s stock valued at $1,087,000 after purchasing an additional 2,968 shares during the last quarter. Olstein Capital Management L.P. grew its position in shares of Kulicke and Soffa Industries by 22.6% during the third quarter. Olstein Capital Management L.P. now owns 246,405 shares of the semiconductor company’s stock worth $11,120,000 after acquiring an additional 45,405 shares during the last quarter. Olympiad Research LP purchased a new position in shares of Kulicke and Soffa Industries during the third quarter worth approximately $370,000. Emerald Advisers LLC grew its position in shares of Kulicke and Soffa Industries by 2.2% during the third quarter. Emerald Advisers LLC now owns 452,945 shares of the semiconductor company’s stock worth $20,441,000 after acquiring an additional 9,943 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Kulicke and Soffa Industries by 156.6% during the third quarter. Harbor Capital Advisors Inc. now owns 35,958 shares of the semiconductor company’s stock worth $1,623,000 after acquiring an additional 21,946 shares during the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.