Assetmark Inc. Lowers Stock Holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Key Points

• Assetmark Inc. reduced its position in Kulicke and Soffa Industries by 37%, holding 17,828 shares valued at $588,000 after selling 10,481 shares.
• Research firms have recently modified their price targets, with DA Davidson lowering it from $60 to $55, while Needham & Company LLC set a new target price of $37 after a downgrade.
• Kulicke and Soffa Industries reported a loss of ($0.52) EPS for the last quarter, missing the consensus estimate and showing a 5.9% decrease in revenue year-over-year.

Assetmark Inc. decreased its position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 37.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,828 shares of the semiconductor company's stock after selling 10,481 shares during the quarter. Assetmark Inc.'s holdings in Kulicke and Soffa Industries were worth $588,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Royce & Associates LP increased its stake in Kulicke and Soffa Industries by 16.0% in the 1st quarter. Royce & Associates LP now owns 1,351,392 shares of the semiconductor company's stock worth $44,569,000 after purchasing an additional 185,964 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Kulicke and Soffa Industries in the 1st quarter worth approximately $817,000. Financial Harvest LLC acquired a new stake in Kulicke and Soffa Industries in the 1st quarter worth approximately $6,839,000. Victory Capital Management Inc. lifted its holdings in Kulicke and Soffa Industries by 6.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,699,897 shares of the semiconductor company's stock worth $89,043,000 after purchasing an additional 156,144 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in Kulicke and Soffa Industries by 3,534.6% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 461,555 shares of the semiconductor company's stock worth $15,222,000 after buying an additional 448,856 shares during the period. Institutional investors and hedge funds own 98.22% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on KLIC shares. TD Cowen dropped their price target on Kulicke and Soffa Industries from $50.00 to $36.00 and set a "hold" rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC cut their price target on Kulicke and Soffa Industries from $53.00 to $37.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, DA Davidson cut their target price on Kulicke and Soffa Industries from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Kulicke and Soffa Industries has a consensus rating of "Moderate Buy" and an average price target of $44.50.

Kulicke and Soffa Industries Price Performance

KLIC stock traded down $0.25 during midday trading on Wednesday, reaching $32.11. 879,233 shares of the stock were exchanged, compared to its average volume of 598,736. The stock has a market capitalization of $1.69 billion, a PE ratio of 89.20 and a beta of 1.52. Kulicke and Soffa Industries, Inc. has a 52 week low of $26.63 and a 52 week high of $52.08. The company has a fifty day moving average price of $34.58 and a 200 day moving average price of $35.56.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($0.52) earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.71). The firm had revenue of $161.99 million for the quarter, compared to analyst estimates of $165.10 million. Kulicke and Soffa Industries had a return on equity of 0.76% and a net margin of 3.11%. The firm's quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted ($0.95) earnings per share. As a group, analysts anticipate that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Thursday, June 19th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.82 annualized dividend and a dividend yield of 2.6%. Kulicke and Soffa Industries's dividend payout ratio is currently 227.78%.

Kulicke and Soffa Industries 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.