Assetmark Inc. Has $588,000 Stock Position 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. cut its position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 37.0% during the first quarter, according to the company in its most recent disclosure 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 period. Assetmark Inc.'s holdings in Kulicke and Soffa Industries were worth $588,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in KLIC. The Manufacturers Life Insurance Company grew its position in Kulicke and Soffa Industries by 68.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,762,112 shares of the semiconductor company's stock worth $82,220,000 after acquiring an additional 717,832 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Kulicke and Soffa Industries during the fourth quarter worth $24,109,000. Point72 Asset Management L.P. acquired a new stake in shares of Kulicke and Soffa Industries in the fourth quarter valued at $22,134,000. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Kulicke and Soffa Industries by 3,534.6% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 461,555 shares of the semiconductor company's stock valued at $15,222,000 after buying an additional 448,856 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Kulicke and Soffa Industries by 286.1% during the 4th quarter. Millennium Management LLC now owns 423,208 shares of the semiconductor company's stock worth $19,747,000 after buying an additional 313,595 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on KLIC. DA Davidson lowered their price objective on shares of Kulicke and Soffa Industries from $60.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Needham & Company LLC reduced their price objective on Kulicke and Soffa Industries from $53.00 to $37.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, TD Cowen decreased their price objective 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. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.50.

Kulicke and Soffa Industries Stock Performance

Shares of Kulicke and Soffa Industries stock opened at $32.31 on Friday. The firm has a fifty day moving average of $34.57 and a two-hundred day moving average of $35.83. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 89.75 and a beta of 1.54. Kulicke and Soffa Industries, Inc. has a 52 week low of $26.63 and a 52 week high of $52.08.

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

Kulicke and Soffa Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Thursday, June 19th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.82 annualized dividend and a dividend yield of 2.5%. Kulicke and Soffa Industries's dividend payout ratio is currently 227.78%.

About Kulicke and Soffa Industries

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.

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