Kulicke and Soffa Industries (NASDAQ:KLIC) Hits New 52-Week Low – Here’s What Happened

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) shares hit a new 52-week low on Tuesday . The company traded as low as $35.95 and last traded at $36.19, with a volume of 646883 shares trading hands. The stock had previously closed at $38.05.

Analysts Set New Price Targets

KLIC has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and set a $53.00 price target on shares of Kulicke and Soffa Industries in a research note on Thursday, February 6th. TD Cowen lifted their price target on shares of 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. 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. Finally, StockNews.com raised shares of Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Kulicke and Soffa Industries Stock Down 4.9 %

The stock has a market cap of $1.93 billion, a P/E ratio of 301.58 and a beta of 1.38. The firm’s fifty day moving average price is $43.14 and its 200-day moving average price is $44.60.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Sell-side analysts predict that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current year.

Kulicke and Soffa Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Thursday, March 20th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, March 20th. Kulicke and Soffa Industries’s dividend payout ratio is 683.33%.

Kulicke and Soffa Industries announced that its board has authorized a stock 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 buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Kulicke and Soffa Industries

Several large investors have recently added to or reduced their stakes in KLIC. The Manufacturers Life Insurance Company boosted its holdings in Kulicke and Soffa Industries by 68.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,762,112 shares of the semiconductor company’s stock valued at $82,220,000 after acquiring an additional 717,832 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Kulicke and Soffa Industries in the fourth quarter valued at $24,109,000. Point72 Asset Management L.P. bought a new stake in Kulicke and Soffa Industries in the fourth quarter valued at $22,134,000. Millennium Management LLC boosted its holdings in Kulicke and Soffa Industries by 286.1% in the fourth quarter. Millennium Management LLC now owns 423,208 shares of the semiconductor company’s stock valued at $19,747,000 after acquiring an additional 313,595 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in Kulicke and Soffa Industries by 20.3% in the third quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company’s stock valued at $50,154,000 after acquiring an additional 187,673 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

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.