Public Employees Retirement System of Ohio cut its holdings in shares of Kulicke and Soffa Industries Inc. (NASDAQ:KLIC) by 23.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,468 shares of the semiconductor company’s stock after selling 34,995 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Kulicke and Soffa Industries were worth $2,750,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Mount Yale Investment Advisors LLC acquired a new position in Kulicke and Soffa Industries in the 1st quarter valued at $114,000. Itau Unibanco Holding S.A. acquired a new position in Kulicke and Soffa Industries in the 2nd quarter valued at $119,000. Allianz Asset Management GmbH acquired a new position in Kulicke and Soffa Industries in the 1st quarter valued at $204,000. Element Capital Management LLC acquired a new position in Kulicke and Soffa Industries in the 1st quarter valued at $208,000. Finally, Value Holdings Management CO. LLC acquired a new position in Kulicke and Soffa Industries in the 2nd quarter valued at $214,000. 84.03% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on KLIC. ValuEngine lowered Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. BidaskClub lowered Kulicke and Soffa Industries from a “sell” rating to a “strong sell” rating in a report on Saturday, September 29th. Zacks Investment Research raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Wednesday, August 15th. Finally, B. Riley upped their price objective on Kulicke and Soffa Industries from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $29.70.
Kulicke and Soffa Industries (NASDAQ:KLIC) last released its earnings results on Wednesday, August 1st. The semiconductor company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.23. The firm had revenue of $268.83 million during the quarter, compared to the consensus estimate of $260.42 million. Kulicke and Soffa Industries had a return on equity of 19.51% and a net margin of 6.93%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. On average, research analysts expect that Kulicke and Soffa Industries Inc. will post 2.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Thursday, September 27th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, September 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.16%. Kulicke and Soffa Industries’s payout ratio is 30.97%.
Kulicke and Soffa Industries announced that its board has authorized a share repurchase plan on Tuesday, July 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 5.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
In related news, Director Peter T. M. Kong bought 5,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was purchased at an average cost of $26.89 per share, for a total transaction of $134,450.00. Following the transaction, the director now owns 45,090 shares in the company, valued at approximately $1,212,470.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Deepak Sood sold 20,000 shares of the company’s stock in a transaction on Friday, July 13th. The shares were sold at an average price of $28.00, for a total value of $560,000.00. Following the sale, the vice president now owns 87,235 shares of the company’s stock, valued at $2,442,580. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,900 shares of company stock valued at $639,020. Corporate insiders own 1.40% of the company’s stock.
About Kulicke and Soffa Industries
Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and expendable tools to assemble semiconductor devices. It operates in two segments, Capital Equipment, and Aftermarket Products and Services (APS). The Capital Equipment segment manufactures and sells a line of ball bonders, wafer level bonders, wedge bonders, advanced packaging, and electronic assembly solutions.
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