Principal Financial Group Inc. Raises Stock Holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Principal Financial Group Inc. grew its stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,799 shares of the semiconductor company’s stock after buying an additional 4,613 shares during the period. Principal Financial Group Inc. owned 0.49% of Kulicke and Soffa Industries worth $12,262,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KLIC. Copeland Capital Management LLC grew its position in shares of Kulicke and Soffa Industries by 2.3% during the fourth quarter. Copeland Capital Management LLC now owns 1,502,640 shares of the semiconductor company’s stock worth $70,113,000 after purchasing an additional 33,124 shares in the last quarter. Royce & Associates LP boosted its position in shares of Kulicke and Soffa Industries by 20.3% during the third 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 last quarter. Emerald Advisers LLC grew its stake in Kulicke and Soffa Industries by 2.2% during the third quarter. Emerald Advisers LLC now owns 452,945 shares of the semiconductor company’s stock valued at $20,441,000 after acquiring an additional 9,943 shares in the last quarter. Wasatch Advisors LP increased its holdings in Kulicke and Soffa Industries by 10.8% in the 3rd quarter. Wasatch Advisors LP now owns 398,225 shares of the semiconductor company’s stock valued at $17,972,000 after acquiring an additional 38,655 shares during the last quarter. Finally, Olstein Capital Management L.P. lifted its stake in Kulicke and Soffa Industries by 22.6% in the 3rd quarter. Olstein Capital Management L.P. now owns 246,405 shares of the semiconductor company’s stock worth $11,120,000 after purchasing an additional 45,405 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Price Performance

Shares of NASDAQ KLIC opened at $37.85 on Friday. Kulicke and Soffa Industries, Inc. has a 1-year low of $37.77 and a 1-year high of $53.71. The business’s 50 day moving average is $44.59 and its two-hundred day moving average is $44.83. The stock has a market capitalization of $2.02 billion, a P/E ratio of 315.42 and a beta of 1.36.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). Kulicke and Soffa Industries had a net margin of 0.48% and a negative return on equity of 1.26%. As a group, equities research analysts anticipate that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, Director Chin Hu Lim sold 30,000 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $48.11, for a total value of $1,443,300.00. Following the completion of the sale, the director now directly owns 59,701 shares of the company’s stock, valued at $2,872,215.11. The trade was a 33.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fusen Ernie Chen sold 80,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $48.29, for a total value of $3,863,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,100,765 shares in the company, valued at approximately $53,155,941.85. This trade represents a 6.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,391 shares of company stock worth $5,870,582 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

KLIC has been the subject of a number of research analyst reports. StockNews.com upgraded Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Needham & Company LLC restated a “buy” rating and set a $53.00 price target on shares of Kulicke and Soffa Industries in a report on Thursday, February 6th. DA Davidson decreased their price objective on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, TD Cowen increased their target price on 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.00.

About Kulicke and Soffa Industries

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.