Point72 Asset Management L.P. Makes New Investment in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Point72 Asset Management L.P. acquired a new stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 474,360 shares of the semiconductor company's stock, valued at approximately $22,134,000. Point72 Asset Management L.P. owned about 0.88% of Kulicke and Soffa Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in KLIC. Barclays PLC raised its position in Kulicke and Soffa Industries by 85.2% in the third quarter. Barclays PLC now owns 96,604 shares of the semiconductor company's stock valued at $4,361,000 after purchasing an additional 44,429 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Kulicke and Soffa Industries during the 4th quarter worth about $548,000. Rhumbline Advisers raised its holdings in Kulicke and Soffa Industries by 8.2% in the 4th quarter. Rhumbline Advisers now owns 163,491 shares of the semiconductor company's stock valued at $7,628,000 after buying an additional 12,355 shares during the period. Empowered Funds LLC acquired a new position in Kulicke and Soffa Industries in the fourth quarter valued at about $346,000. Finally, Vanguard Group Inc. boosted its stake in Kulicke and Soffa Industries by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 3,278,512 shares of the semiconductor company's stock worth $152,975,000 after buying an additional 50,430 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Price Performance

Shares of NASDAQ KLIC traded down $0.76 during midday trading on Friday, hitting $31.50. The company's stock had a trading volume of 66,548 shares, compared to its average volume of 563,121. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 262.72 and a beta of 1.53. The business's fifty day simple moving average is $32.27 and its two-hundred day simple moving average is $40.56. Kulicke and Soffa Industries, Inc. has a 1 year low of $26.63 and a 1 year high of $53.71.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($0.52) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.71). Kulicke and Soffa Industries had a net margin of 0.48% and a negative return on equity of 1.26%. The business had revenue of $161.99 million during the quarter, compared to analysts' expectations of $165.10 million. During the same period in the prior year, the business earned ($0.95) EPS. The business's quarterly revenue was down 5.9% on a year-over-year basis. Analysts anticipate that Kulicke and Soffa Industries, Inc. will post 0.93 EPS for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Thursday, March 20th were issued a dividend of $0.205 per share. The ex-dividend date was Thursday, March 20th. This represents a $0.82 annualized dividend and a yield of 2.60%. Kulicke and Soffa Industries's dividend payout ratio (DPR) is 227.78%.

Analysts Set New Price Targets

KLIC has been the topic of a number of research analyst reports. TD Cowen reduced their price target on shares of Kulicke and Soffa Industries from $50.00 to $36.00 and set a "hold" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC dropped their target price on shares of 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 cut their target price on 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, Wall Street Zen upgraded Kulicke and Soffa Industries from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.50.

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.