B. Riley Cuts Kulicke and Soffa Industries (KLIC) Price Target to $28.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price objective reduced by B. Riley from $33.00 to $28.00 in a research note published on Tuesday morning, MarketBeat.com reports. They currently have a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Kulicke and Soffa Industries’ Q1 2019 earnings at $0.15 EPS, Q2 2019 earnings at $0.15 EPS, Q3 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.45 EPS, FY2019 earnings at $1.20 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.61 EPS, Q3 2020 earnings at $0.80 EPS, Q4 2020 earnings at $0.56 EPS, FY2020 earnings at $2.47 EPS and FY2021 earnings at $3.31 EPS.

Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Kulicke and Soffa Industries from a hold rating to a buy rating and set a $30.00 target price for the company in a research report on Wednesday, August 15th. BidaskClub downgraded shares of Kulicke and Soffa Industries from a strong-buy rating to a buy rating in a research report on Wednesday, July 25th. Finally, ValuEngine cut shares of Kulicke and Soffa Industries from a hold rating to a sell rating in a report on Wednesday, October 3rd. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $29.00.

NASDAQ KLIC traded up $0.06 on Tuesday, reaching $20.33. 39,350 shares of the company’s stock traded hands, compared to its average volume of 714,350. The company has a market capitalization of $1.36 billion, a PE ratio of 8.37, a P/E/G ratio of 0.97 and a beta of 1.24. Kulicke and Soffa Industries has a fifty-two week low of $17.40 and a fifty-two week high of $28.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.67 and a quick ratio of 4.42.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its earnings results on Monday, November 19th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. The company had revenue of $184.82 million during the quarter, compared to the consensus estimate of $185.00 million. Kulicke and Soffa Industries had a net margin of 6.40% and a return on equity of 19.12%. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. Research analysts expect that Kulicke and Soffa Industries will post 1.73 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new position in Kulicke and Soffa Industries in the second quarter valued at $119,000. Allianz Asset Management GmbH purchased a new position in Kulicke and Soffa Industries in the first quarter valued at $204,000. Value Holdings Management CO. LLC purchased a new position in Kulicke and Soffa Industries in the second quarter valued at $214,000. Fox Run Management L.L.C. purchased a new position in Kulicke and Soffa Industries in the third quarter valued at $260,000. Finally, Wells Fargo & Company MN increased its holdings in Kulicke and Soffa Industries by 86.1% in the first quarter. Wells Fargo & Company MN now owns 10,939 shares of the semiconductor company’s stock valued at $274,000 after buying an additional 5,060 shares in the last quarter. 82.32% of the stock is owned by institutional investors.

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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