Needham & Company LLC Lowers Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target to $37.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price objective reduced by investment analysts at Needham & Company LLC from $53.00 to $37.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would indicate a potential upside of 16.17% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. StockNews.com raised shares of Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. TD Cowen decreased their price objective on shares of Kulicke and Soffa Industries from $50.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Kulicke and Soffa Industries Trading Up 0.4 %

Kulicke and Soffa Industries stock opened at $31.85 on Thursday. The company has a fifty day simple moving average of $32.83 and a 200 day simple moving average of $41.28. Kulicke and Soffa Industries has a 1-year low of $26.63 and a 1-year high of $53.71. The company has a market cap of $1.70 billion, a P/E ratio of 265.42 and a beta of 1.53.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its earnings results on Tuesday, May 6th. The semiconductor company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.71). The company had revenue of $161.99 million during the quarter, compared to analyst estimates of $165.10 million. Kulicke and Soffa Industries had a net margin of 0.48% and a negative return on equity of 1.26%. Kulicke and Soffa Industries’s revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.95) EPS. On average, equities research analysts forecast that Kulicke and Soffa Industries will post 0.93 EPS for the current year.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Kulicke and Soffa Industries by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 3,476,131 shares of the semiconductor company’s stock valued at $114,643,000 after buying an additional 197,619 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Kulicke and Soffa Industries by 6.1% in the first quarter. Victory Capital Management Inc. now owns 2,699,897 shares of the semiconductor company’s stock valued at $89,043,000 after purchasing an additional 156,144 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Kulicke and Soffa Industries by 68.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,762,112 shares of the semiconductor company’s stock worth $82,220,000 after purchasing an additional 717,832 shares during the period. Copeland Capital Management LLC lifted its holdings in Kulicke and Soffa Industries by 2.3% during the 4th quarter. Copeland Capital Management LLC now owns 1,502,640 shares of the semiconductor company’s stock worth $70,113,000 after purchasing an additional 33,124 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in Kulicke and Soffa Industries by 16.0% in the 1st quarter. Royce & Associates LP now owns 1,351,392 shares of the semiconductor company’s stock valued at $44,569,000 after purchasing an additional 185,964 shares during the period. 98.22% of the stock is owned by 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.