TimesSquare Capital Management LLC Lowers Stock Holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

TimesSquare Capital Management LLC reduced its position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 22.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 411,375 shares of the semiconductor company's stock after selling 119,452 shares during the quarter. TimesSquare Capital Management LLC owned about 0.77% of Kulicke and Soffa Industries worth $13,567,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in Kulicke and Soffa Industries in the 4th quarter valued at $819,000. Raymond James Financial Inc. purchased a new stake in Kulicke and Soffa Industries in the 4th quarter valued at $2,916,000. Amundi grew its holdings in Kulicke and Soffa Industries by 200.8% in the 4th quarter. Amundi now owns 27,898 shares of the semiconductor company's stock valued at $1,326,000 after buying an additional 18,623 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Kulicke and Soffa Industries by 13.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,370 shares of the semiconductor company's stock valued at $1,044,000 after buying an additional 2,635 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in Kulicke and Soffa Industries by 17.9% in the 4th quarter. HighTower Advisors LLC now owns 7,032 shares of the semiconductor company's stock valued at $328,000 after buying an additional 1,068 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KLIC. Needham & Company LLC dropped their target price on Kulicke and Soffa Industries from $53.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, May 8th. DA Davidson dropped their target price on Kulicke and Soffa Industries from $60.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, TD Cowen lowered their price target on Kulicke and Soffa Industries from $50.00 to $36.00 and set a "hold" rating for the company in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $44.50.

Kulicke and Soffa Industries Stock Performance

Shares of NASDAQ KLIC traded down $0.45 during mid-day trading on Friday, reaching $35.45. 157,595 shares of the company's stock were exchanged, compared to its average volume of 578,017. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 98.49 and a beta of 1.54. Kulicke and Soffa Industries, Inc. has a 52-week low of $26.63 and a 52-week high of $52.08. The company's 50-day moving average is $34.31 and its 200-day moving average is $36.78.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($0.52) earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.71). The business had revenue of $161.99 million for the quarter, compared to analysts' expectations of $165.10 million. Kulicke and Soffa Industries had a return on equity of 0.76% and a net margin of 3.11%. The business's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.95) earnings per share. As a group, equities analysts predict that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Thursday, June 19th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Wednesday, June 18th. Kulicke and Soffa Industries's dividend payout ratio (DPR) is 227.78%.

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.