Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) CFO Lester A. Wong Sells 60,000 Shares

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 stock was sold at an average price of $46.37, for a total value of $2,782,200.00. Following the transaction, the chief financial officer now owns 79,636 shares of the company’s stock, valued at approximately $3,692,721.32. This represents a 42.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Kulicke and Soffa Industries Stock Performance

Shares of KLIC stock traded up $0.71 during midday trading on Friday, hitting $49.17. 442,972 shares of the company were exchanged, compared to its average volume of 502,969. The firm has a market capitalization of $2.65 billion, a P/E ratio of -39.40 and a beta of 1.38. Kulicke and Soffa Industries, Inc. has a 52 week low of $38.20 and a 52 week high of $56.71. The firm’s 50 day moving average price is $44.88 and its two-hundred day moving average price is $45.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $181.30 million for the quarter, compared to analyst estimates of $180.03 million. Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. Kulicke and Soffa Industries’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. Analysts expect that Kulicke and Soffa Industries, Inc. will post 1.32 EPS for the current year.

Kulicke and Soffa Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be issued 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 of this dividend is Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is presently -65.04%.

Kulicke and Soffa Industries announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Kulicke and Soffa Industries

Several hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its stake 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 worth $32,000 after buying an additional 414 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Kulicke and Soffa Industries by 226.3% in the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 543 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Kulicke and Soffa Industries in the 3rd quarter valued at $53,000. Blue Trust Inc. boosted its stake in shares of Kulicke and Soffa Industries by 17,075.0% in the 2nd quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock valued at $69,000 after purchasing an additional 1,366 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Kulicke and Soffa Industries in the 2nd quarter valued at $73,000. Institutional investors own 98.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on KLIC. Needham & Company LLC raised shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Friday, November 15th. DA Davidson dropped their price target on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, November 15th. StockNews.com lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Wednesday. Craig Hallum lowered their price target on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, TD Cowen lifted their price target on shares of 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. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kulicke and Soffa Industries currently has a consensus rating of “Hold” and a consensus target price of $52.40.

About Kulicke and Soffa Industries

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.