Herald Investment Management Ltd Buys 48,000 Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Key Points

• Herald Investment Management Ltd increased its stake in Kulicke and Soffa Industries by 19.3% during the first quarter, now holding approximately 296,100 shares valued at nearly $9.75 million.
• Other institutional investors, including Vanguard Group and Victory Capital Management, also boosted their holdings in Kulicke and Soffa Industries, highlighting increased interest among major investors.
• Kulicke and Soffa Industries recently reported $0.07 earnings per share for the quarter, surpassing estimates, but experienced an 18.3% decline in revenue year-over-year.

Herald Investment Management Ltd boosted its stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 19.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 296,100 shares of the semiconductor company's stock after purchasing an additional 48,000 shares during the quarter. Kulicke and Soffa Industries comprises 1.8% of Herald Investment Management Ltd's portfolio, making the stock its 17th largest holding. Herald Investment Management Ltd owned approximately 0.56% of Kulicke and Soffa Industries worth $9,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Menard Financial Group LLC acquired a new position in shares of Kulicke and Soffa Industries during the 4th quarter worth approximately $54,000. Fifth Third Bancorp boosted its stake in Kulicke and Soffa Industries by 99.7% during the 1st quarter. Fifth Third Bancorp now owns 1,214 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 606 shares during the last quarter. Quadrant Capital Group LLC lifted its stake 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 valued at $57,000 after purchasing an additional 371 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Kulicke and Soffa Industries by 1,763.5% during the first quarter. Federated Hermes Inc. now owns 1,379 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 1,305 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of Kulicke and Soffa Industries by 27.0% during the fourth quarter. Covestor Ltd now owns 2,041 shares of the semiconductor company's stock valued at $95,000 after buying an additional 434 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

Kulicke and Soffa Industries Trading Up 5.8%

NASDAQ:KLIC traded up $2.05 during trading hours on Tuesday, hitting $37.11. The stock had a trading volume of 399,228 shares, compared to its average volume of 601,605. The business has a 50 day simple moving average of $34.74 and a two-hundred day simple moving average of $35.14. Kulicke and Soffa Industries, Inc. has a 1-year low of $26.63 and a 1-year high of $52.08. The company has a market cap of $1.94 billion, a PE ratio of 464.30 and a beta of 1.52.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. Kulicke and Soffa Industries had a negative return on equity of 1.06% and a net margin of 0.90%. The firm had revenue of $148.41 million during the quarter, compared to analyst estimates of $145.48 million. During the same period last year, the company posted $0.35 EPS. The business's quarterly revenue was down 18.3% compared to the same quarter last year. Research analysts expect that Kulicke and Soffa Industries, Inc. will post 0.93 EPS for the current fiscal year.

Kulicke and Soffa Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Thursday, June 19th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Wednesday, June 18th. Kulicke and Soffa Industries's payout ratio is presently 1,025.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. DA Davidson dropped their price target on shares of Kulicke and Soffa Industries from $60.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Needham & Company LLC lifted their price target 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. Finally, TD Cowen upped 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 research report on Thursday, August 7th.

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.