Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) SVP Sells $1,426,800.00 in Stock

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) SVP Nelson Munpun Wong sold 30,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $47.56, for a total transaction of $1,426,800.00. Following the sale, the senior vice president now directly owns 177,533 shares of the company’s stock, valued at $8,443,469.48. The trade was a 14.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kulicke and Soffa Industries Stock Performance

NASDAQ KLIC opened at $49.17 on Monday. The company has a market cap of $2.65 billion, a P/E ratio of -39.98 and a beta of 1.38. Kulicke and Soffa Industries, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $56.71. The business’s 50 day moving average price is $45.06 and its 200-day moving average price is $45.36.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $181.30 million for the quarter, compared to the consensus estimate 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%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. As a group, equities analysts predict that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

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

Kulicke and Soffa Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 1.67%. The ex-dividend date is Thursday, December 19th. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is -65.04%.

Wall Street Analyst Weigh In

KLIC has been the subject of a number of recent research reports. StockNews.com downgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. TD Cowen upped their price objective on 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. Needham & Company LLC raised shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Friday, November 15th. Craig Hallum reduced their price objective on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, DA Davidson decreased their price target on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.40.

Institutional Investors Weigh In On Kulicke and Soffa Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning lifted its holdings in shares of Kulicke and Soffa Industries by 127.2% during the third quarter. Creative Planning now owns 25,864 shares of the semiconductor company’s stock worth $1,167,000 after purchasing an additional 14,480 shares during the period. Copeland Capital Management LLC grew its stake in Kulicke and Soffa Industries by 22.0% during the 3rd quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company’s stock valued at $66,319,000 after acquiring an additional 264,638 shares in the last quarter. Signaturefd LLC lifted its position in Kulicke and Soffa Industries by 226.3% during the third quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after buying an additional 543 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Kulicke and Soffa Industries by 156.6% in the third quarter. Harbor Capital Advisors Inc. now owns 35,958 shares of the semiconductor company’s stock valued at $1,623,000 after purchasing an additional 21,946 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Kulicke and Soffa Industries by 12.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 671,675 shares of the semiconductor company’s stock valued at $33,040,000 after buying an additional 73,243 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.