Kulicke and Soffa Industries (NASDAQ:KLIC) Cut to “Neutral” at DA Davidson

DA Davidson downgraded shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a buy rating to a neutral rating in a research note published on Monday, BenzingaRatingsTable reports. DA Davidson currently has $26.00 price target on the semiconductor company’s stock, down from their previous price target of $30.00.

KLIC has been the topic of a number of other research reports. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. BidaskClub downgraded Waterstone Financial from a hold rating to a sell rating in a research report on Friday, June 21st. Finally, ValuEngine upgraded China Southern Airlines from a sell rating to a hold rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Kulicke and Soffa Industries presently has a consensus rating of Hold and a consensus price target of $27.20.

Shares of KLIC stock opened at $21.52 on Monday. The company has a quick ratio of 6.35, a current ratio of 7.19 and a debt-to-equity ratio of 0.02. Kulicke and Soffa Industries has a 52-week low of $17.40 and a 52-week high of $28.69. The stock has a market capitalization of $1.39 billion, a P/E ratio of 8.86, a PEG ratio of 3.02 and a beta of 1.35. The stock has a fifty day simple moving average of $21.26.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.06). Kulicke and Soffa Industries had a net margin of 12.91% and a return on equity of 12.85%. The firm had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $118.42 million. During the same quarter in the previous year, the business earned $0.51 EPS. The company’s revenue for the quarter was down 47.7% on a year-over-year basis. Sell-side analysts predict that Kulicke and Soffa Industries will post 0.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, June 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.23%. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is currently 19.75%.

In related news, Director Peter T. M. Kong acquired 10,000 shares of Kulicke and Soffa Industries stock in a transaction dated Monday, May 20th. The shares were purchased at an average cost of $19.37 per share, with a total value of $193,700.00. Following the completion of the purchase, the director now owns 64,690 shares of the company’s stock, valued at $1,253,045.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in KLIC. Norges Bank bought a new position in shares of Kulicke and Soffa Industries during the fourth quarter valued at about $31,408,000. Principal Financial Group Inc. grew its stake in shares of Kulicke and Soffa Industries by 41.6% in the fourth quarter. Principal Financial Group Inc. now owns 4,183,080 shares of the semiconductor company’s stock worth $84,791,000 after purchasing an additional 1,228,277 shares during the last quarter. ARGA Investment Management LP bought a new stake in shares of Kulicke and Soffa Industries in the first quarter worth about $21,649,000. American Century Companies Inc. grew its stake in shares of Kulicke and Soffa Industries by 111.2% in the fourth quarter. American Century Companies Inc. now owns 578,431 shares of the semiconductor company’s stock worth $11,725,000 after purchasing an additional 304,584 shares during the last quarter. Finally, Schneider Capital Management Corp bought a new stake in shares of Kulicke and Soffa Industries in the first quarter worth about $4,215,000. 89.73% of the stock is currently owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Company Profile

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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