Kulicke and Soffa Industries (KLIC) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a hold rating to a sell rating in a report released on Tuesday.

A number of other equities research analysts have also recently issued reports on KLIC. ValuEngine raised shares of Kulicke and Soffa Industries from a strong sell rating to a sell rating in a report on Monday, November 26th. Cowen reissued a hold rating and set a $22.00 target price on shares of Kulicke and Soffa Industries in a report on Monday, February 4th. Craig Hallum assumed coverage on shares of Kulicke and Soffa Industries in a report on Tuesday, November 20th. They set a buy rating and a $30.00 target price on the stock. B. Riley lowered their target price on shares of Kulicke and Soffa Industries from $33.00 to $28.00 and set a buy rating on the stock in a report on Tuesday, November 20th. Finally, Zacks Investment Research cut shares of Kulicke and Soffa Industries from a hold rating to a strong sell rating in a report on Friday, November 23rd. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $28.40.

Shares of KLIC stock opened at $22.71 on Tuesday. The company has a current ratio of 6.58, a quick ratio of 5.81 and a debt-to-equity ratio of 0.02. Kulicke and Soffa Industries has a 1 year low of $17.40 and a 1 year high of $28.69. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 2.28 and a beta of 1.16.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Thursday, January 31st. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Kulicke and Soffa Industries had a net margin of 16.06% and a return on equity of 16.99%. The business had revenue of $157.21 million for the quarter, compared to analysts’ expectations of $155.00 million. During the same quarter in the previous year, the firm posted $0.54 EPS. As a group, sell-side analysts expect that Kulicke and Soffa Industries will post 0.84 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.48 annualized dividend and a dividend yield of 2.11%. Kulicke and Soffa Industries’s payout ratio is currently 19.75%.

Kulicke and Soffa Industries declared that its board has authorized a stock repurchase program on Thursday, January 31st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Several institutional investors have recently added to or reduced their stakes in KLIC. Bank of New York Mellon Corp increased its holdings in shares of Kulicke and Soffa Industries by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 926,149 shares of the semiconductor company’s stock worth $22,061,000 after purchasing an additional 14,033 shares during the period. Northern Trust Corp grew its position in Kulicke and Soffa Industries by 25.0% in the second quarter. Northern Trust Corp now owns 366,252 shares of the semiconductor company’s stock worth $8,724,000 after acquiring an additional 73,317 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Kulicke and Soffa Industries in the third quarter worth $765,000. Systematic Financial Management LP grew its position in Kulicke and Soffa Industries by 5.0% in the third quarter. Systematic Financial Management LP now owns 78,585 shares of the semiconductor company’s stock worth $1,873,000 after acquiring an additional 3,750 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Kulicke and Soffa Industries by 10.7% in the third quarter. SG Americas Securities LLC now owns 28,661 shares of the semiconductor company’s stock worth $683,000 after acquiring an additional 2,764 shares in the last quarter. 87.00% 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 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, wedge bonders, advanced packaging, and electronic assembly solutions.

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