Bayforest Capital Ltd Acquires New Holdings in Kulicke and Soffa Industries, Inc. $KLIC

Key Points

• Bayforest Capital Ltd acquired a new stake in Kulicke and Soffa Industries, purchasing 11,508 shares valued at approximately $398,000.
• Insider activity revealed that SVP Nelson Munpun Wong sold 30,000 shares for over $1.1 million, reducing his ownership by 16.90%.
• Kulicke and Soffa Industries reported a quarterly earnings per share of $0.07, beating estimates, but experienced an 18.3% decrease in revenue compared to the previous year.

Bayforest Capital Ltd purchased a new stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 11,508 shares of the semiconductor company's stock, valued at approximately $398,000.

A number of other institutional investors and hedge funds have also made changes to their positions in KLIC. Principal Financial Group Inc. grew its stake in Kulicke and Soffa Industries by 1.4% in the first quarter. Principal Financial Group Inc. now owns 266,466 shares of the semiconductor company's stock valued at $8,788,000 after purchasing an additional 3,667 shares during the last quarter. Copeland Capital Management LLC grew its stake in Kulicke and Soffa Industries by 14.5% in the second quarter. Copeland Capital Management LLC now owns 1,645,508 shares of the semiconductor company's stock valued at $56,935,000 after purchasing an additional 207,899 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Kulicke and Soffa Industries by 1,770.2% in the 1st quarter. GAMMA Investing LLC now owns 19,095 shares of the semiconductor company's stock worth $579,000 after buying an additional 18,074 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Kulicke and Soffa Industries by 134.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 18,858 shares of the semiconductor company's stock worth $693,000 after buying an additional 10,826 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Kulicke and Soffa Industries by 99.7% in the 1st quarter. Fifth Third Bancorp now owns 1,214 shares of the semiconductor company's stock worth $40,000 after buying an additional 606 shares during the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Kulicke and Soffa Industries

In other news, SVP Nelson Munpun Wong sold 30,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $37.07, for a total value of $1,112,100.00. Following the sale, the senior vice president directly owned 147,533 shares of the company's stock, valued at $5,469,048.31. This represents a 16.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.40% of the stock is owned by company insiders.

Kulicke and Soffa Industries Price Performance

Shares of KLIC opened at $40.06 on Thursday. The company's fifty day moving average price is $38.88 and its 200-day moving average price is $35.13. The firm has a market capitalization of $2.09 billion, a PE ratio of 500.75 and a beta of 1.57. Kulicke and Soffa Industries, Inc. has a 1-year low of $26.63 and a 1-year high of $52.08.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $148.41 million for the quarter, compared to the consensus estimate of $145.48 million. Kulicke and Soffa Industries had a negative return on equity of 1.06% and a net margin of 0.90%.The company's quarterly revenue was down 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS. As a group, research 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 disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Thursday, September 18th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, September 18th. Kulicke and Soffa Industries's dividend payout ratio is 1,025.00%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Kulicke and Soffa Industries in a report on Wednesday, October 8th. TD Cowen lifted their price target on shares of Kulicke and Soffa Industries from $36.00 to $38.00 and gave the stock a "hold" rating in a report on Thursday, August 7th. Needham & Company LLC boosted their target price on Kulicke and Soffa Industries from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, B. Riley boosted their target price on Kulicke and Soffa Industries from $30.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $42.00.

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.

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