Bank of America Corp DE Sells 41,681 Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Bank of America Corp DE cut its stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 40.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,887 shares of the semiconductor company's stock after selling 41,681 shares during the quarter. Bank of America Corp DE owned approximately 0.12% of Kulicke and Soffa Industries worth $2,888,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in Kulicke and Soffa Industries by 9.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,985 shares of the semiconductor company's stock worth $139,000 after purchasing an additional 254 shares during the period. Signaturefd LLC increased its position in Kulicke and Soffa Industries by 35.5% in the fourth quarter. Signaturefd LLC now owns 1,061 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 278 shares during the period. Commonwealth Equity Services LLC increased its position in Kulicke and Soffa Industries by 0.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 50,007 shares of the semiconductor company's stock worth $2,333,000 after purchasing an additional 298 shares during the period. Personal CFO Solutions LLC increased its position in Kulicke and Soffa Industries by 6.5% in the fourth quarter. Personal CFO Solutions LLC now owns 5,576 shares of the semiconductor company's stock worth $260,000 after purchasing an additional 341 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Kulicke and Soffa Industries by 43.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,225 shares of the semiconductor company's stock worth $57,000 after purchasing an additional 371 shares during the period. 98.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

KLIC has been the topic of several recent analyst reports. Wall Street Zen upgraded Kulicke and Soffa Industries from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. TD Cowen cut their target price on Kulicke and Soffa Industries from $50.00 to $36.00 and set a "hold" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC cut their target price 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $44.50.

Kulicke and Soffa Industries Stock Up 2.5%

Shares of KLIC stock traded up $0.80 during trading on Tuesday, reaching $33.02. 161,309 shares of the company's stock were exchanged, compared to its average volume of 564,857. The stock has a market capitalization of $1.74 billion, a PE ratio of 275.17 and a beta of 1.53. Kulicke and Soffa Industries, Inc. has a twelve month low of $26.63 and a twelve month high of $53.71. The firm's fifty day moving average price is $31.73 and its 200-day moving average price is $39.71.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.71). Kulicke and Soffa Industries had a negative return on equity of 1.26% and a net margin of 0.48%. The company had revenue of $161.99 million for the quarter, compared to analyst estimates of $165.10 million. During the same period last year, the company posted ($0.95) earnings per share. The business's revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, analysts anticipate that Kulicke and Soffa Industries, Inc. will post 0.93 EPS for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Thursday, March 20th were paid a dividend of $0.205 per share. The ex-dividend date was Thursday, March 20th. This represents a $0.82 annualized dividend and a yield of 2.48%. 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.