Cubist Systematic Strategies LLC Buys Shares of 24,144 Kulicke and Soffa Industries, Inc. $KLIC

Key Points

• Cubist Systematic Strategies LLC has acquired a new position in Kulicke and Soffa Industries, purchasing 24,144 shares valued at approximately $796,000 in the first quarter.
• Recent data shows that 98.22% of Kulicke and Soffa's stock is currently owned by institutional investors, highlighting significant institutional interest in the semiconductor company.
• Kulicke and Soffa Industries announced a quarterly dividend of $0.205 per share, equating to an annualized yield of 2.2%, with the dividend payout ratio at a high of 1,025.00%.

Cubist Systematic Strategies LLC acquired a new stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,144 shares of the semiconductor company's stock, valued at approximately $796,000.

Several other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Kulicke and Soffa Industries by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 266,466 shares of the semiconductor company's stock worth $8,788,000 after purchasing an additional 3,667 shares during the last quarter. GAMMA Investing LLC grew its stake 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 valued at $579,000 after buying an additional 18,074 shares during the period. Fifth Third Bancorp lifted its holdings 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 acquiring an additional 606 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Kulicke and Soffa Industries by 0.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 166,647 shares of the semiconductor company's stock worth $5,496,000 after acquiring an additional 996 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Kulicke and Soffa Industries by 14.9% in the 1st quarter. Ameriprise Financial Inc. now owns 1,146,518 shares of the semiconductor company's stock worth $37,813,000 after acquiring an additional 148,793 shares during the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on KLIC shares. Needham & Company LLC increased their target price on shares of Kulicke and Soffa Industries from $37.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. TD Cowen increased their price objective on shares of Kulicke and Soffa Industries from $36.00 to $38.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $44.33.

Kulicke and Soffa Industries Stock Performance

Shares of NASDAQ:KLIC traded up $0.53 during trading hours on Monday, hitting $39.15. 433,823 shares of the company's stock traded hands, compared to its average volume of 442,427. Kulicke and Soffa Industries, Inc. has a 52 week low of $26.63 and a 52 week high of $52.08. The company's fifty day simple moving average is $36.13 and its two-hundred day simple moving average is $34.37. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 489.38 and a beta of 1.56.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $148.41 million for the quarter, compared to analyst estimates of $145.48 million. Kulicke and Soffa Industries had a net margin of 0.90% and a negative return on equity of 1.06%. The company's revenue for the quarter was down 18.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. On average, analysts anticipate that Kulicke and Soffa Industries, Inc. will post 0.93 EPS for the current fiscal year.

Kulicke and Soffa Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Thursday, September 18th will be given a dividend of $0.205 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.82 dividend on an annualized basis and a yield of 2.1%. Kulicke and Soffa Industries's dividend payout ratio is presently 1,025.00%.

Insider Transactions at Kulicke and Soffa Industries

In other news, SVP Nelson Munpun Wong sold 30,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $37.07, for a total value of $1,112,100.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.40% of the company's stock.

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.