TD Cowen Raises Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target to $50.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price objective upped by research analysts at TD Cowen from $45.00 to $50.00 in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price objective suggests a potential upside of 9.63% from the company’s current price.

KLIC has been the topic of several other research reports. Needham & Company LLC raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday. 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 report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.50.

Kulicke and Soffa Industries Price Performance

Shares of NASDAQ KLIC opened at $45.61 on Friday. The business has a 50-day moving average of $44.00 and a two-hundred day moving average of $45.36. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -37.08 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.

Kulicke and Soffa Industries declared that its Board of Directors has initiated a stock buyback program on Wednesday, November 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Kulicke and Soffa Industries

A number of institutional investors have recently bought and sold shares of KLIC. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kulicke and Soffa Industries by 1.3% during 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 in the last quarter. Creative Planning lifted 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. grew its stake in shares of Kulicke and Soffa Industries by 137.5% during the third 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 in the last quarter. Meritage Portfolio Management boosted its holdings in Kulicke and Soffa Industries by 9.4% in the third quarter. Meritage Portfolio Management now owns 6,054 shares of the semiconductor company’s stock valued at $273,000 after purchasing an additional 519 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Kulicke and Soffa Industries by 226.3% during 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. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.