OVERSEA CHINESE BANKING Corp Ltd Buys 448,856 Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

OVERSEA CHINESE BANKING Corp Ltd grew its stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 3,534.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 461,555 shares of the semiconductor company's stock after buying an additional 448,856 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned 0.86% of Kulicke and Soffa Industries worth $15,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new position in shares of Kulicke and Soffa Industries in the fourth quarter valued at approximately $37,000. Fifth Third Bancorp boosted its holdings in shares of Kulicke and Soffa Industries by 99.7% in the first 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 during the period. Signaturefd LLC lifted its position in shares of Kulicke and Soffa Industries by 35.5% in the fourth quarter. Signaturefd LLC now owns 1,061 shares of the semiconductor company's stock worth $50,000 after purchasing an additional 278 shares in the last quarter. Menard Financial Group LLC bought a new stake in shares of Kulicke and Soffa Industries in the fourth quarter worth $54,000. Finally, Quadrant Capital Group LLC lifted its position in shares of 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 worth $57,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.

Kulicke and Soffa Industries Price Performance

NASDAQ KLIC traded up $0.72 on Thursday, hitting $35.90. 377,174 shares of the stock were exchanged, compared to its average volume of 579,663. The business's fifty day moving average is $34.31 and its 200 day moving average is $36.78. Kulicke and Soffa Industries, Inc. has a 52 week low of $26.63 and a 52 week high of $52.08. The company has a market capitalization of $1.89 billion, a PE ratio of 99.72 and a beta of 1.54.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.71). The firm had revenue of $161.99 million for the quarter, compared to the consensus estimate 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 was down 5.9% compared to the same quarter last year. During the same period last year, the company posted ($0.95) earnings per share. Analysts predict that Kulicke and Soffa Industries, Inc. will post 0.93 EPS for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Thursday, June 19th were paid a $0.205 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.82 annualized dividend and a dividend yield of 2.28%. Kulicke and Soffa Industries's dividend payout ratio (DPR) is presently 227.78%.

Analysts Set New Price Targets

KLIC has been the topic of a number of research reports. TD Cowen cut their price objective on shares of Kulicke and Soffa Industries from $50.00 to $36.00 and set a "hold" rating on the stock in a research report on Wednesday, May 7th. DA Davidson cut their price objective 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 cut their price objective on shares of Kulicke and Soffa Industries from $53.00 to $37.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $44.50.

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.