Kulicke and Soffa Industries (NASDAQ:KLIC) Downgraded by StockNews.com to Sell

Kulicke and Soffa Industries (NASDAQ:KLIC) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

KLIC has been the subject of a number of other research reports. Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Friday, November 15th. TD Cowen lifted their price target on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, November 15th. DA Davidson reduced their price target on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Craig Hallum reduced their price target on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Kulicke and Soffa Industries has a consensus rating of “Hold” and an average target price of $52.40.

Kulicke and Soffa Industries Stock Down 1.6 %

NASDAQ KLIC opened at $45.58 on Wednesday. The firm has a market cap of $2.46 billion, a P/E ratio of -37.06 and a beta of 1.38. Kulicke and Soffa Industries has a 52-week low of $38.20 and a 52-week high of $56.71. The business’s 50-day moving average price is $44.42 and its 200 day moving average price is $45.36.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $181.30 million during the quarter, compared to analyst estimates of $180.03 million. Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. Kulicke and Soffa Industries’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. As a group, analysts anticipate that Kulicke and Soffa Industries will post 1.32 earnings per share for the current year.

Kulicke and Soffa Industries declared that its Board of Directors has initiated a stock buyback program on Wednesday, November 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KLIC. The Manufacturers Life Insurance Company raised its position in shares of Kulicke and Soffa Industries by 37.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company’s stock worth $52,918,000 after purchasing an additional 291,787 shares during the last quarter. Copeland Capital Management LLC grew its stake in Kulicke and Soffa Industries by 22.0% in the 3rd quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company’s stock worth $66,319,000 after acquiring an additional 264,638 shares during the period. Royce & Associates LP grew its stake in Kulicke and Soffa Industries by 20.3% in the 3rd quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company’s stock worth $50,154,000 after acquiring an additional 187,673 shares during the period. DDD Partners LLC purchased a new stake in Kulicke and Soffa Industries in the 2nd quarter worth approximately $8,163,000. Finally, Emerald Advisers LLC grew its stake in Kulicke and Soffa Industries by 57.5% in the 2nd quarter. Emerald Advisers LLC now owns 443,002 shares of the semiconductor company’s stock worth $21,791,000 after acquiring an additional 161,791 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Kulicke and Soffa Industries Company Profile

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services (APS). The company offers ball bonding equipment, wafer level bonding equipment, wedge bonding equipment; and advanced display, die-attach, and thermocompression systems and solutions, as well as tools, spares and services for equipment.