Kulicke and Soffa Industries (NASDAQ:KLIC) Given Hold (C-) Rating at Weiss Ratings

Key Points

• Kulicke and Soffa Industries' stock has been given a "hold (C-)" rating by Weiss Ratings, while other analysts have set a price target averaging $44.33 with mixed ratings.
• The company reported $0.07 earnings per share for the last quarter, exceeding estimates, but its revenue declined by 18.3% year-over-year.
• Significant institutional investment activity was observed, with large investors like Oversee Chinese Banking Corp increasing their stakes in the company, enhancing ownership to 98.22% among institutional investors.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report)'s stock had its "hold (c-)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently weighed in on KLIC. Needham & Company LLC upped their price objective on Kulicke and Soffa Industries from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. TD Cowen boosted their target price on Kulicke and Soffa Industries from $36.00 to $38.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $44.33.

Kulicke and Soffa Industries Price Performance

Shares of NASDAQ KLIC opened at $40.73 on Wednesday. The stock has a market capitalization of $2.12 billion, a P/E ratio of 509.13 and a beta of 1.57. Kulicke and Soffa Industries has a 1-year low of $26.63 and a 1-year high of $52.08. The business has a fifty day moving average price of $38.14 and a 200 day moving average price of $34.97.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The firm had revenue of $148.41 million during the quarter, compared to analysts' expectations 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 quarterly revenue was down 18.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 EPS. As a group, equities research analysts anticipate that Kulicke and Soffa Industries will post 0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Kulicke and Soffa Industries news, SVP Nelson Munpun Wong sold 30,000 shares of the business's stock in a transaction dated 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 sale, the senior vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.40% of the company's stock.

Institutional Trading of Kulicke and Soffa Industries

Several large investors have recently added to or reduced their stakes in KLIC. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Kulicke and Soffa Industries by 3,534.6% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 461,555 shares of the semiconductor company's stock valued at $15,222,000 after purchasing an additional 448,856 shares during the last quarter. Invesco Ltd. grew its stake in Kulicke and Soffa Industries by 188.4% during the 1st quarter. Invesco Ltd. now owns 681,407 shares of the semiconductor company's stock valued at $22,473,000 after purchasing an additional 445,148 shares during the last quarter. Woodline Partners LP grew its stake in Kulicke and Soffa Industries by 1,401.7% during the 1st quarter. Woodline Partners LP now owns 438,667 shares of the semiconductor company's stock valued at $14,467,000 after purchasing an additional 409,456 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Kulicke and Soffa Industries by 21.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,348,020 shares of the semiconductor company's stock valued at $81,241,000 after purchasing an additional 409,116 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Kulicke and Soffa Industries by 20.4% during the 2nd quarter. American Century Companies Inc. now owns 2,313,378 shares of the semiconductor company's stock valued at $80,043,000 after purchasing an additional 392,691 shares during the last quarter. Hedge funds and other institutional investors own 98.22% of the company's stock.

About Kulicke and Soffa Industries

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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