Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Sees Large Growth in Short Interest

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,450,000 shares, an increase of 9.9% from the January 15th total of 3,140,000 shares. Based on an average daily volume of 555,200 shares, the days-to-cover ratio is presently 6.2 days. Currently, 6.7% of the company’s shares are sold short.

Insider Buying and Selling

In other Kulicke and Soffa Industries news, SVP Robert Nestor Chylak sold 11,391 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $49.52, for a total transaction of $564,082.32. Following the completion of the sale, the senior vice president now owns 20,838 shares of the company’s stock, valued at $1,031,897.76. This represents a 35.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Chan Pin Chong sold 9,730 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.07, for a total transaction of $448,261.10. Following the completion of the transaction, the executive vice president now owns 81,916 shares in the company, valued at $3,773,870.12. The trade was a 10.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 221,121 shares of company stock worth $10,527,843 in the last 90 days. 3.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Several large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its position in Kulicke and Soffa Industries by 137.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 414 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Kulicke and Soffa Industries by 226.3% in 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. Summit Securities Group LLC purchased a new stake in shares of Kulicke and Soffa Industries during the fourth quarter valued at approximately $37,000. GAMMA Investing LLC increased its position in shares of Kulicke and Soffa Industries by 61.0% during the fourth quarter. GAMMA Investing LLC now owns 1,021 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 387 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Kulicke and Soffa Industries in the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

KLIC has been the subject of several research analyst reports. TD Cowen increased their price objective on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 15th. StockNews.com raised Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Needham & Company LLC reissued a “buy” rating and set a $53.00 price objective on shares of Kulicke and Soffa Industries in a research report on Thursday, February 6th. Finally, DA Davidson dropped their target price on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Kulicke and Soffa Industries Price Performance

NASDAQ:KLIC traded down $0.24 during mid-day trading on Monday, hitting $41.07. 253,719 shares of the company’s stock were exchanged, compared to its average volume of 494,395. The company has a market cap of $2.20 billion, a PE ratio of 342.25 and a beta of 1.36. Kulicke and Soffa Industries has a one year low of $38.20 and a one year high of $53.71. The business has a fifty day moving average price of $46.05 and a 200 day moving average price of $44.89.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Kulicke and Soffa Industries had a negative return on equity of 1.26% and a net margin of 0.48%. On average, equities analysts forecast that Kulicke and Soffa Industries will post 1.24 EPS for the current fiscal year.

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

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.