Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Receives $64.80 Consensus Price Target from Brokerages

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) has been given an average recommendation of “Buy” by the six analysts that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $64.80.

KLIC has been the topic of several research reports. B. Riley increased their price target on shares of Kulicke and Soffa Industries from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, April 20th. Zacks Investment Research raised shares of Kulicke and Soffa Industries from a “hold” rating to a “strong-buy” rating and set a $62.00 price objective on the stock in a research note on Thursday, April 22nd. Needham & Company LLC initiated coverage on shares of Kulicke and Soffa Industries in a research note on Monday, April 19th. They issued a “buy” rating and a $64.00 price target on the stock. Finally, Craig Hallum lifted their price target on shares of Kulicke and Soffa Industries from $61.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, April 20th.

In related news, VP Zamir Shai Soloveizik sold 2,500 shares of the company’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $55.00, for a total transaction of $137,500.00. Following the transaction, the vice president now owns 22,188 shares of the company’s stock, valued at $1,220,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Chan Pin Chong sold 10,578 shares of the company’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $51.07, for a total value of $540,218.46. Following the transaction, the executive vice president now directly owns 94,303 shares in the company, valued at approximately $4,816,054.21. The disclosure for this sale can be found here. Insiders have sold 18,078 shares of company stock valued at $977,718 in the last 90 days. Company insiders own 2.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in KLIC. Capital International Investors grew its holdings in Kulicke and Soffa Industries by 229.0% during the first quarter. Capital International Investors now owns 1,751,063 shares of the semiconductor company’s stock worth $85,995,000 after acquiring an additional 1,218,800 shares during the period. Norges Bank purchased a new stake in shares of Kulicke and Soffa Industries in the fourth quarter valued at $27,027,000. Hood River Capital Management LLC purchased a new position in Kulicke and Soffa Industries during the fourth quarter worth about $26,325,000. Wasatch Advisors Inc. purchased a new position in shares of Kulicke and Soffa Industries in the 1st quarter worth about $31,660,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Kulicke and Soffa Industries by 1,002.5% in the 1st quarter. Acadian Asset Management LLC now owns 538,634 shares of the semiconductor company’s stock worth $26,454,000 after purchasing an additional 489,780 shares during the period. 85.02% of the stock is currently owned by hedge funds and other institutional investors.

KLIC stock opened at $55.96 on Tuesday. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 24.02 and a beta of 1.22. The firm’s 50-day moving average price is $52.65. Kulicke and Soffa Industries has a one year low of $20.10 and a one year high of $61.24.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings data on Tuesday, May 4th. The semiconductor company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.12. The firm had revenue of $340.16 million during the quarter, compared to analyst estimates of $340.00 million. Kulicke and Soffa Industries had a net margin of 15.66% and a return on equity of 20.62%. On average, sell-side analysts forecast that Kulicke and Soffa Industries will post 4.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 12th. Shareholders of record on Thursday, June 24th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, June 23rd. Kulicke and Soffa Industries’s dividend payout ratio is currently 58.95%.

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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