Nuveen LLC Buys New Holdings in Kulicke and Soffa Industries, Inc. $KLIC

Key Points

• Nuveen LLC recently acquired 186,380 shares of Kulicke and Soffa Industries, totaling approximately $6.15 million, increasing its stake to 0.35% of the company.
• Several analysts have updated their target prices for Kulicke and Soffa Industries, with DA Davidson lowering it to $55 while Needham & Company raised it to $40, showcasing mixed market sentiments.
• Kulicke and Soffa Industries announced a quarterly dividend of $0.205, reflecting a high payout ratio of 1,025%, indicating potential financial strain despite the dividend distribution.

Nuveen LLC bought a new stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 186,380 shares of the semiconductor company's stock, valued at approximately $6,147,000. Nuveen LLC owned about 0.35% of Kulicke and Soffa Industries at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KLIC. Principal Financial Group Inc. grew its position 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 buying an additional 3,667 shares during the period. GAMMA Investing LLC raised its stake in Kulicke and Soffa Industries by 1,770.2% in the first quarter. GAMMA Investing LLC now owns 19,095 shares of the semiconductor company's stock valued at $579,000 after purchasing an additional 18,074 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Kulicke and Soffa Industries by 99.7% during the first quarter. Fifth Third Bancorp now owns 1,214 shares of the semiconductor company's stock worth $40,000 after acquiring an additional 606 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kulicke and Soffa Industries during the fourth quarter worth approximately $2,916,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of 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. Hedge funds and other institutional investors own 98.22% of the company's stock.

Insiders Place Their Bets

In other Kulicke and Soffa Industries news, SVP Nelson Munpun Wong sold 30,000 shares of the stock in a transaction on 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 sale, the senior vice president owned 147,533 shares in the company, valued at $5,469,048.31. This trade represents a 16.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.40% of the stock is currently owned by insiders.

Kulicke and Soffa Industries Price Performance

Shares of NASDAQ:KLIC traded down $0.30 during mid-day trading on Friday, reaching $37.50. 610,316 shares of the company traded hands, compared to its average volume of 538,776. Kulicke and Soffa Industries, Inc. has a 52 week low of $26.63 and a 52 week high of $52.08. The firm has a market cap of $1.96 billion, a PE ratio of 468.75 and a beta of 1.56. The company's 50 day moving average price is $35.59 and its 200-day moving average price is $34.60.

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, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $148.41 million during 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 firm's revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. On average, research 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Thursday, September 18th will be paid a $0.205 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.82 dividend on an annualized basis and a yield of 2.2%. Kulicke and Soffa Industries's dividend payout ratio (DPR) is presently 1,025.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. DA Davidson cut their target price 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 boosted their target price on shares of Kulicke and Soffa Industries from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, 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 report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $44.33.

Kulicke and Soffa Industries Company 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.