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 note issued to investors on Friday.

Several other research analysts have also recently commented on the company. DA Davidson lowered their target price on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Needham & Company LLC upgraded 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 note on Friday, November 15th. Finally, TD Cowen upped their target price on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $52.40.

Kulicke and Soffa Industries Stock Performance

NASDAQ KLIC opened at $46.71 on Friday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -37.98 and a beta of 1.37. The firm has a 50 day simple moving average of $47.87 and a 200-day simple moving average of $45.72. Kulicke and Soffa Industries has a one year low of $38.20 and a one year high of $56.71.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $181.30 million for the quarter, compared to analyst estimates of $180.03 million. Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. Kulicke and Soffa Industries’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. Equities analysts predict that Kulicke and Soffa Industries will post 1.29 EPS for the current fiscal year.

Kulicke and Soffa Industries declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Lester A. Wong sold 60,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $46.37, for a total value of $2,782,200.00. Following the completion of the sale, the chief financial officer now directly owns 79,636 shares of the company’s stock, valued at $3,692,721.32. This represents a 42.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Chan Pin Chong sold 9,730 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total value of $448,261.10. Following the transaction, the executive vice president now directly owns 81,916 shares in the company, valued at approximately $3,773,870.12. This trade represents a 10.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 221,121 shares of company stock worth $10,527,843 in the last ninety days. 0.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several large investors have recently modified their holdings of the company. Artemis Investment Management LLP raised its holdings in shares of Kulicke and Soffa Industries by 20.6% in the fourth quarter. Artemis Investment Management LLP now owns 212,834 shares of the semiconductor company’s stock valued at $9,931,000 after buying an additional 36,290 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Kulicke and Soffa Industries by 1.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 36,329 shares of the semiconductor company’s stock valued at $1,695,000 after acquiring an additional 371 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Kulicke and Soffa Industries by 61.0% in the 4th quarter. GAMMA Investing LLC now owns 1,021 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 387 shares in the last quarter. Barclays PLC boosted its position in Kulicke and Soffa Industries by 85.2% during the third quarter. Barclays PLC now owns 96,604 shares of the semiconductor company’s stock worth $4,361,000 after acquiring an additional 44,429 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Kulicke and Soffa Industries during the third quarter worth $53,000. 98.22% of the stock is 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.