Pallas Capital Advisors LLC Purchases New Stake in Kulicke and Soffa Industries, Inc. $KLIC

Key Points

• Pallas Capital Advisors LLC has acquired a new stake in Kulicke and Soffa Industries, purchasing 7,358 shares valued at approximately $255,000.
• Analysts have increased the price targets for Kulicke and Soffa Industries, with TD Cowen raising it from $36.00 to $38.00 and Needham & Company increasing it from $37.00 to $40.00, indicating a general optimism about the stock.
• Kulicke and Soffa Industries is set to pay a quarterly dividend of $0.205 per share on October 7th, reflecting a high annualized dividend yield of 1.9% despite a significant payout ratio of 1,025.00%.

Pallas Capital Advisors LLC purchased a new stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,358 shares of the semiconductor company's stock, valued at approximately $255,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its position in shares of Kulicke and Soffa Industries by 789.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 925 shares of the semiconductor company's stock valued at $32,000 after acquiring an additional 821 shares during the period. 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. Caitong International Asset Management Co. Ltd raised its stake in shares of Kulicke and Soffa Industries by 280.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,234 shares of the semiconductor company's stock worth $41,000 after acquiring an additional 910 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Kulicke and Soffa Industries by 1,763.5% in the first quarter. Federated Hermes Inc. now owns 1,379 shares of the semiconductor company's stock worth $45,000 after buying an additional 1,305 shares during the period. Finally, Menard Financial Group LLC purchased a new position in shares of Kulicke and Soffa Industries in the fourth quarter worth $54,000. Institutional investors own 98.22% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. TD Cowen lifted their price target 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. 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. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Kulicke and Soffa Industries currently has an average rating of "Moderate Buy" and a consensus target price of $44.33.

Kulicke and Soffa Industries Trading Up 2.3%

Shares of NASDAQ:KLIC opened at $42.94 on Tuesday. The stock has a 50 day moving average of $36.69 and a 200 day moving average of $34.55. The company has a market cap of $2.24 billion, a PE ratio of 536.75 and a beta of 1.56. Kulicke and Soffa Industries, Inc. has a 12-month low of $26.63 and a 12-month high of $52.08.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The company 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 was down 18.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. Equities 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Thursday, September 18th will be paid a dividend of $0.205 per share. The ex-dividend date is Thursday, September 18th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.9%. Kulicke and Soffa Industries's payout ratio is 1,025.00%.

Insider Activity

In related news, SVP Nelson Munpun Wong sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $37.07, for a total transaction of $1,112,100.00. Following the completion of the transaction, the senior vice president directly owned 147,533 shares in the company, valued at approximately $5,469,048.31. The trade was a 16.90% decrease in their position. 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 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.

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