The Manufacturers Life Insurance Company Has $63.95 Million Stock Holdings in Kulicke and Soffa Industries, Inc. $KLIC

Key Points

• The Manufacturers Life Insurance Company recently increased its stake in Kulicke and Soffa Industries by 10%, now holding approximately 3.67% of the company, valued at about $63.95 million.
• Analysts have mixed ratings for Kulicke and Soffa, with a target price range between $38.00 and $55.00, and the stock is currently rated as a "Moderate Buy."
• Kulicke and Soffa Industries declared a quarterly dividend of $0.205 per share, reflecting an annualized yield of 2.2%, with a significant dividend payout ratio of 1,025%.

The Manufacturers Life Insurance Company raised its holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC - Free Report) by 10.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,938,904 shares of the semiconductor company's stock after acquiring an additional 176,792 shares during the quarter. The Manufacturers Life Insurance Company owned 3.67% of Kulicke and Soffa Industries worth $63,945,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KLIC. Point72 Hong Kong Ltd acquired a new stake in Kulicke and Soffa Industries in the fourth quarter valued at $24,109,000. Point72 Asset Management L.P. acquired a new stake in Kulicke and Soffa Industries in the fourth quarter valued at $22,134,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Kulicke and Soffa Industries by 3,534.6% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 461,555 shares of the semiconductor company's stock valued at $15,222,000 after acquiring an additional 448,856 shares during the period. Invesco Ltd. lifted its holdings in Kulicke and Soffa Industries by 188.4% in the first quarter. Invesco Ltd. now owns 681,407 shares of the semiconductor company's stock valued at $22,473,000 after acquiring an additional 445,148 shares during the period. Finally, Millennium Management LLC grew its holdings in Kulicke and Soffa Industries by 286.1% in the fourth quarter. Millennium Management LLC now owns 423,208 shares of the semiconductor company's stock valued at $19,747,000 after purchasing an additional 313,595 shares during the last quarter. Institutional investors and hedge funds own 98.22% of the company's stock.

Kulicke and Soffa Industries Stock Performance

Kulicke and Soffa Industries stock traded up $1.51 during trading on Thursday, reaching $37.88. 217,110 shares of the company's stock were exchanged, compared to its average volume of 590,446. 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 $1.98 billion, a price-to-earnings ratio of 473.44 and a beta of 1.57. The company's 50-day moving average is $35.72 and its two-hundred day moving average is $34.60.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Kulicke and Soffa Industries had a net margin of 0.90% and a negative return on equity of 1.06%. The firm had revenue of $148.41 million for the quarter, compared to the consensus estimate of $145.48 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The firm's quarterly revenue was down 18.3% on a year-over-year basis. Analysts anticipate that Kulicke and Soffa Industries, Inc. will post 0.93 EPS for the current year.

Kulicke and Soffa Industries Announces Dividend

The company 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 dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 18th. Kulicke and Soffa Industries's payout ratio is 1,025.00%.

Analyst Ratings Changes

Several analysts have weighed in on KLIC shares. TD Cowen upped their target price on 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 upped their target price on 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, DA Davidson lowered their target price on 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. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Kulicke and Soffa Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.33.

Insider Activity

In other news, SVP Nelson Munpun Wong sold 30,000 shares of the stock in a transaction 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 owned 147,533 shares in the company, valued at $5,469,048.31. This represents a 16.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by company insiders.

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.