Kovitz Investment Group Partners LLC Has $3.28 Million Position in Kulicke and Soffa Industries, Inc. $KLIC

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in Kulicke and Soffa Industries by 366%, acquiring an additional 78,132 shares, bringing their total ownership to approximately $3.28 million.
• Insider trading activity included SVP Nelson Munpun Wong selling 30,000 shares at $37.07 each, resulting in a 16.9% reduction of his position in the company.
• Kulicke and Soffa reported earnings of $0.07 EPS in its latest quarter, exceeding expectations, although its revenue decreased by 18.3% year-over-year.

Kovitz Investment Group Partners LLC lifted its holdings in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 366.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 99,482 shares of the semiconductor company's stock after acquiring an additional 78,132 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.19% of Kulicke and Soffa Industries worth $3,281,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KLIC. Principal Financial Group Inc. boosted its holdings in Kulicke and Soffa Industries by 1.4% during 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 in the last quarter. GAMMA Investing LLC lifted its position in shares of Kulicke and Soffa Industries by 1,770.2% during 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 period. Fifth Third Bancorp boosted its stake in 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 valued at $40,000 after buying an additional 606 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Kulicke and Soffa Industries in the fourth quarter valued at $2,916,000. Finally, Envestnet Asset Management Inc. raised its stake in Kulicke and Soffa Industries by 0.6% during the first 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 in the last quarter. Institutional investors own 98.22% of the company's stock.

Analyst Upgrades and Downgrades

KLIC has been the topic of several recent analyst reports. TD Cowen boosted their target price 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. DA Davidson reduced 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 research report on Thursday, May 8th. Finally, Needham & Company LLC raised their price objective 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. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $44.33.

Insider Activity

In other news, SVP Nelson Munpun Wong sold 30,000 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $37.07, for a total transaction of $1,112,100.00. Following the completion of the sale, the senior vice president owned 147,533 shares in the company, valued at $5,469,048.31. The trade was a 16.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.40% of the company's stock.

Kulicke and Soffa Industries Stock Up 3.4%

KLIC stock traded up $1.25 during trading on Friday, hitting $37.63. The company had a trading volume of 210,867 shares, compared to its average volume of 592,622. The firm has a 50-day moving average price of $35.18 and a 200-day moving average price of $34.88. Kulicke and Soffa Industries, Inc. has a 12 month low of $26.63 and a 12 month high of $52.08. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 470.09 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, beating analysts' consensus estimates 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 negative return on equity of 1.06% and a net margin of 0.90%.The business's quarterly revenue was down 18.3% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. Equities analysts expect that Kulicke and Soffa Industries, Inc. will post 0.93 EPS for the current year.

Kulicke and Soffa Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Thursday, June 19th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend 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 currently 1,025.00%.

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.