Kulicke and Soffa Industries (NASDAQ:KLIC) Rating Lowered to Hold at Zacks Investment Research

Kulicke and Soffa Industries (NASDAQ:KLIC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Kulicke & Soffa is a leading provider of semiconductor packaging and electronic assembly solutions supporting the global automotive, consumer, communications, computing and industrial segments. As a pioneer in the semiconductor space, K&S has provided customers with market leading packaging solutions for decades. In recent years, K&S has expanded its product offerings through strategic acquisitions and organic development, adding advanced packaging, electronics assembly, wedge bonding and a broader range of expendable tools to its core offerings. Combined with its extensive expertise in process technology and focus on development, K&S is well positioned to help customers meet the challenges of packaging and assembling the next-generation of electronic devices. “

Other analysts have also recently issued research reports about the company. Craig Hallum lifted their price target on Kulicke and Soffa Industries from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, January 20th. B. Riley lifted their price target on Kulicke and Soffa Industries from $38.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, December 14th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Kulicke and Soffa Industries has a consensus rating of “Buy” and an average price target of $45.75.

KLIC stock traded down $1.27 on Wednesday, hitting $54.95. 1,122,978 shares of the company’s stock were exchanged, compared to its average volume of 879,603. Kulicke and Soffa Industries has a 12-month low of $20.10 and a 12-month high of $56.67. The firm has a 50 day moving average price of $48.35 and a two-hundred day moving average price of $35.76. The stock has a market cap of $3.41 billion, a P/E ratio of 66.21 and a beta of 1.18.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its earnings results on Tuesday, February 2nd. The semiconductor company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.11. Kulicke and Soffa Industries had a return on equity of 7.92% and a net margin of 8.39%. The firm had revenue of $267.86 million for the quarter, compared to the consensus estimate of $265.00 million. As a group, sell-side analysts forecast that Kulicke and Soffa Industries will post 1.35 earnings per share for the current year.

In other news, EVP Chan Pin Chong sold 10,578 shares of the business’s stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $51.07, for a total value of $540,218.46. Following the completion of the transaction, the executive vice president now owns 94,303 shares of the company’s stock, valued at approximately $4,816,054.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Lester A. Wong sold 33,000 shares of the business’s stock in a transaction dated Tuesday, March 2nd. The shares were sold at an average price of $50.55, for a total value of $1,668,150.00. Following the completion of the transaction, the chief financial officer now directly owns 131,256 shares of the company’s stock, valued at approximately $6,634,990.80. The disclosure for this sale can be found here. In the last three months, insiders sold 48,578 shares of company stock valued at $2,433,368. Insiders own 1.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Everence Capital Management Inc. purchased a new position in shares of Kulicke and Soffa Industries in the 1st quarter valued at about $484,000. Norges Bank purchased a new position in shares of Kulicke and Soffa Industries in the 4th quarter valued at about $27,027,000. Hsbc Holdings PLC purchased a new position in shares of Kulicke and Soffa Industries in the 4th quarter valued at about $346,000. Verition Fund Management LLC purchased a new position in shares of Kulicke and Soffa Industries in the 4th quarter valued at about $479,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Kulicke and Soffa Industries in the 4th quarter valued at about $214,000. 82.56% of the stock is owned by institutional investors and hedge funds.

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 ball and wedge bonders, and advanced packaging and electronic assembly solutions.

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