Renaissance Technologies LLC cut its holdings in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 22.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,577,428 shares of the semiconductor company’s stock after selling 452,300 shares during the quarter. Renaissance Technologies LLC owned 2.22% of Kulicke and Soffa Industries worth $30,003,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Arizona State Retirement System raised its stake in shares of Kulicke and Soffa Industries by 0.3% during the second quarter. Arizona State Retirement System now owns 37,063 shares of the semiconductor company’s stock worth $705,000 after acquiring an additional 100 shares in the last quarter. Geneva Advisors LLC increased its stake in shares of Kulicke and Soffa Industries by 0.4% in the second quarter. Geneva Advisors LLC now owns 28,457 shares of the semiconductor company’s stock worth $541,000 after buying an additional 112 shares during the period. Aperio Group LLC increased its stake in shares of Kulicke and Soffa Industries by 0.9% in the second quarter. Aperio Group LLC now owns 20,973 shares of the semiconductor company’s stock worth $399,000 after buying an additional 180 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Kulicke and Soffa Industries by 1.4% in the second quarter. BNP Paribas Arbitrage SA now owns 15,008 shares of the semiconductor company’s stock worth $285,000 after buying an additional 207 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Kulicke and Soffa Industries by 1.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 22,550 shares of the semiconductor company’s stock worth $458,000 after buying an additional 250 shares during the period. 84.87% of the stock is currently owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) opened at 21.96 on Friday. The company has a 50 day moving average of $19.76 and a 200 day moving average of $20.59. The stock has a market capitalization of $1.56 billion, a P/E ratio of 18.25 and a beta of 1.33. Kulicke and Soffa Industries, Inc. has a 52 week low of $12.64 and a 52 week high of $23.00.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.21. Kulicke and Soffa Industries had a return on equity of 11.88% and a net margin of 11.61%. The business had revenue of $243.90 million for the quarter, compared to analyst estimates of $245.02 million. During the same quarter last year, the firm posted $0.45 earnings per share. The business’s revenue was up 12.7% compared to the same quarter last year. Equities analysts expect that Kulicke and Soffa Industries, Inc. will post $1.40 EPS for the current fiscal year.

Kulicke and Soffa Industries announced that its board has authorized a share repurchase program on Tuesday, August 15th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

KLIC has been the topic of several analyst reports. B. Riley reaffirmed a “buy” rating and issued a $31.00 target price on shares of Kulicke and Soffa Industries in a research note on Tuesday, July 4th. BidaskClub downgraded shares of Kulicke and Soffa Industries from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, September 6th. Finally, ValuEngine raised shares of Kulicke and Soffa Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $26.50.

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Kulicke and Soffa Industries Profile

Kulicke and Soffa Industries, Inc designs, manufactures and sells capital equipment and expendable tools, as well as services, maintains, repairs and upgrades equipment, all used to assemble semiconductor devices. The Company supplies a range of bonding equipment. The Company operates through two segments: Equipment and Expendable Tools.

Institutional Ownership by Quarter for Kulicke and Soffa Industries (NASDAQ:KLIC)

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