Insider Selling: Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) CFO Sells $2,782,200.00 in Stock

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) CFO Lester A. Wong sold 60,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $46.37, for a total transaction of $2,782,200.00. Following the sale, the chief financial officer now directly owns 79,636 shares of the company’s stock, valued at $3,692,721.32. The trade was a 42.97 % 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 Up 1.5 %

NASDAQ:KLIC opened at $49.17 on Monday. The business’s 50-day simple moving average is $45.06 and its two-hundred day simple moving average is $45.36. Kulicke and Soffa Industries, Inc. has a 52 week low of $38.20 and a 52 week high of $56.71. The stock has a market cap of $2.65 billion, a PE ratio of -39.98 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The business had revenue of $181.30 million for the quarter, compared to the consensus estimate of $180.03 million. During the same period last year, the business posted $0.51 EPS. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. Sell-side analysts anticipate that Kulicke and Soffa Industries, Inc. will post 1.29 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Increases Dividend

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

Kulicke and Soffa Industries announced that its Board of Directors has initiated a share repurchase plan on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have commented on KLIC. TD Cowen upped their target price on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 15th. StockNews.com lowered Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Craig Hallum lowered their target price on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, November 15th. Finally, DA Davidson lowered their price objective on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Kulicke and Soffa Industries currently has an average rating of “Hold” and an average target price of $52.40.

Institutional Trading of Kulicke and Soffa Industries

A number of institutional investors and hedge funds have recently bought and sold shares of KLIC. The Manufacturers Life Insurance Company grew its position in shares of Kulicke and Soffa Industries by 37.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company’s stock valued at $52,918,000 after purchasing an additional 291,787 shares in the last quarter. Copeland Capital Management LLC grew its holdings 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 buying an additional 264,638 shares in the last quarter. Royce & Associates LP increased its stake in Kulicke and Soffa Industries by 20.3% in the 3rd quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company’s stock worth $50,154,000 after acquiring an additional 187,673 shares during the last quarter. DDD Partners LLC purchased a new stake in shares of Kulicke and Soffa Industries during the 2nd quarter worth approximately $8,163,000. Finally, Emerald Advisers LLC boosted its position in shares of Kulicke and Soffa Industries by 57.5% during the 2nd quarter. Emerald Advisers LLC now owns 443,002 shares of the semiconductor company’s stock valued at $21,791,000 after acquiring an additional 161,791 shares during the last quarter. 98.22% of the stock is currently owned by 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.