State of New Jersey Common Pension Fund D Boosts Holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

State of New Jersey Common Pension Fund D increased its holdings in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 12.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 46,216 shares of the semiconductor company’s stock after purchasing an additional 5,042 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Kulicke and Soffa Industries were worth $2,086,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in shares of Kulicke and Soffa Industries in the first quarter worth $29,000. Signaturefd LLC grew its stake in Kulicke and Soffa Industries by 226.3% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 543 shares in the last quarter. Blue Trust Inc. increased its holdings in Kulicke and Soffa Industries by 17,075.0% during the 2nd quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 1,366 shares during the period. Innealta Capital LLC acquired a new stake in Kulicke and Soffa Industries in the 2nd quarter valued at about $73,000. Finally, CWM LLC boosted its stake in shares of Kulicke and Soffa Industries by 101.8% in the 3rd quarter. CWM LLC now owns 1,923 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 970 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on KLIC shares. StockNews.com cut shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Tuesday. Craig Hallum reduced their price objective on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Needham & Company LLC upgraded 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. DA Davidson cut their price target on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday. Finally, 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 report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $52.40.

Kulicke and Soffa Industries Price Performance

Shares of KLIC opened at $46.19 on Friday. Kulicke and Soffa Industries, Inc. has a 1-year low of $38.20 and a 1-year high of $56.71. The stock has a market cap of $2.52 billion, a PE ratio of -37.55 and a beta of 1.38. The firm has a fifty day moving average price of $44.12 and a 200 day moving average price of $45.37.

Kulicke and Soffa Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Thursday, December 19th will be given a $0.205 dividend. The ex-dividend date is Thursday, December 19th. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.78%. Kulicke and Soffa Industries’s dividend payout ratio is -65.04%.

Kulicke and Soffa Industries announced that its Board of Directors has authorized a share buyback plan on Wednesday, November 13th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the semiconductor company to buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.