Nuveen LLC Makes New $6.15 Million Investment 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 acquired a new position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 186,380 shares of the semiconductor company's stock, valued at approximately $6,147,000. Nuveen LLC owned approximately 0.35% of Kulicke and Soffa Industries at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Kulicke and Soffa Industries by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 3,476,131 shares of the semiconductor company's stock worth $114,643,000 after purchasing an additional 197,619 shares in the last quarter. Victory Capital Management Inc. increased its stake in Kulicke and Soffa Industries by 6.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,699,897 shares of the semiconductor company's stock worth $89,043,000 after buying an additional 156,144 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Kulicke and Soffa Industries by 68.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,762,112 shares of the semiconductor company's stock worth $82,220,000 after buying an additional 717,832 shares in the last quarter. Royce & Associates LP increased its stake in Kulicke and Soffa Industries by 16.0% in the 1st quarter. Royce & Associates LP now owns 1,351,392 shares of the semiconductor company's stock worth $44,569,000 after buying an additional 185,964 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Kulicke and Soffa Industries by 11.8% in the 4th quarter. Northern Trust Corp now owns 734,140 shares of the semiconductor company's stock worth $34,255,000 after buying an additional 77,479 shares in the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on KLIC. DA Davidson dropped their price objective on shares of 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. 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 report on Thursday, August 7th. Finally, Needham & Company LLC increased their price objective 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. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $44.33.

Insider Activity at Kulicke and Soffa Industries

In other news, SVP Nelson Munpun Wong sold 30,000 shares of the firm's 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 transaction, the senior vice president directly owned 147,533 shares of the company's stock, valued at approximately $5,469,048.31. This trade represents a 16.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.40% of the company's stock.

Kulicke and Soffa Industries Trading Up 0.5%

Shares of NASDAQ:KLIC traded up $0.18 during trading on Thursday, reaching $37.80. The company's stock had a trading volume of 442,020 shares, compared to its average volume of 540,949. Kulicke and Soffa Industries, Inc. has a 12 month low of $26.63 and a 12 month high of $52.08. The firm's 50 day simple moving average is $35.51 and its two-hundred day simple moving average is $34.71. The stock has a market capitalization of $1.97 billion, a PE ratio of 472.50 and a beta of 1.52.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate 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 firm's revenue for the quarter was down 18.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 EPS. Research analysts anticipate that Kulicke and Soffa Industries, Inc. will post 0.93 EPS for the current fiscal year.

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.