Kulicke and Soffa Industries (NASDAQ:KLIC) Stock Price Target Cut by B. Riley Financial

Key Points

• B. Riley cut its price target on Kulicke and Soffa from $86 to $70 and maintained a neutral rating; the new target implies 3.48% upside from the stock’s current price.
• Analyst sentiment is mixed, with two Buy ratings and three Hold ratings. The consensus rating is Hold, with an average price target of $80.
• KLIC traded up 5.7% on Monday to $67.64, though it remained below its 50-day and 200-day moving averages of $82.98 and $86.41, respectively.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) had its price target cut by analysts at B. Riley Financial from $86.00 to $70.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the semiconductor company's stock. B. Riley Financial's price objective would suggest a potential upside of 3.48% from the company's current price.

A number of other research firms have also weighed in on KLIC. Weiss Ratings reiterated a "hold (c)" rating on shares of Kulicke and Soffa Industries in a research report on Wednesday. Needham & Company LLC increased their price objective on shares of Kulicke and Soffa Industries from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Zacks Research downgraded shares of Kulicke and Soffa Industries from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $80.00.

Kulicke and Soffa Industries Trading Up 5.7%

Kulicke and Soffa Industries stock traded up $3.63 during midday trading on Monday, hitting $67.64. The stock had a trading volume of 43,881 shares, compared to its average volume of 834,202. The firm's fifty day moving average is $82.98 and its two-hundred day moving average is $86.41. The company has a market capitalization of $3.54 billion, a PE ratio of 31.01 and a beta of 1.65. Kulicke and Soffa Industries has a 52-week low of $35.02 and a 52-week high of $135.80.

Institutional Trading of Kulicke and Soffa Industries

Several institutional investors have recently made changes to their positions in KLIC. BlackRock Inc. purchased a new position in shares of Kulicke and Soffa Industries in the 2nd quarter worth $1,204,835,000. The Manufacturers Life Insurance Company bought a new stake in shares of Kulicke and Soffa Industries in the 2nd quarter worth about $153,050,000. Bank of New York Mellon Corp purchased a new stake in shares of Kulicke and Soffa Industries during the 2nd quarter valued at about $98,778,000. Fort Washington Investment Advisors Inc. OH raised its position in shares of Kulicke and Soffa Industries by 40.2% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 454,215 shares of the semiconductor company's stock valued at $42,810,000 after buying an additional 130,162 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of Kulicke and Soffa Industries by 83.3% during the 2nd quarter. Algert Global LLC now owns 319,794 shares of the semiconductor company's stock valued at $42,776,000 after buying an additional 145,302 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

Kulicke and Soffa Industries Company Profile

Kulicke and Soffa Industries develops and supplies equipment and services used to assemble and package semiconductor devices. Its offerings include ball and wedge wire bonders, die-attach and advanced-packaging equipment, as well as related tools, spare parts and support services.

Founded in 1951, the company has a long history in semiconductor assembly technology. Its products serve manufacturers in markets including semiconductors, automotive electronics, communications, consumer electronics and industrial applications.

Kulicke and Soffa serves customers around the world through its international operations and support network.

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