Kulicke and Soffa Industries (NASDAQ:KLIC) Stock Price Expected to Rise, TD Cowen Analyst Says

Key Points

• TD Cowen has raised the price target for Kulicke and Soffa Industries from $36.00 to $38.00, indicating a potential upside of 18.34% from the stock's previous close.
• Kulicke and Soffa Industries reported $0.07 earnings per share for its latest quarter, which exceeded the consensus estimate of $0.06 but showed an 18.3% decline in revenue year-over-year.
• The stock has a consensus rating of "Moderate Buy" with a target price of $45.00, according to MarketBeat.com.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) had its price objective raised by equities research analysts at TD Cowen from $36.00 to $38.00 in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a "hold" rating on the semiconductor company's stock. TD Cowen's price target indicates a potential upside of 7.84% from the stock's current price.

Several other research firms also recently commented on KLIC. DA Davidson reduced their price objective on Kulicke and Soffa Industries from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Needham & Company LLC cut their target price on Kulicke and Soffa Industries from $53.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, May 8th.

Kulicke and Soffa Industries Price Performance

NASDAQ KLIC traded down $0.18 during mid-day trading on Thursday, hitting $35.24. The stock had a trading volume of 151,344 shares, compared to its average volume of 600,728. The firm's 50 day moving average is $34.68 and its 200 day moving average is $35.21. Kulicke and Soffa Industries has a twelve month low of $26.63 and a twelve month high of $52.08. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 440.45 and a beta of 1.52.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. Kulicke and Soffa Industries had a negative return on equity of 1.06% and a net margin of 0.90%. The firm had revenue of $148.41 million during the quarter, compared to the consensus estimate of $145.48 million. During the same period in the prior year, the company earned $0.35 EPS. The firm's revenue was down 18.3% compared to the same quarter last year. As a group, equities research analysts expect that Kulicke and Soffa Industries will post 0.93 earnings per share for the current year.

Institutional Trading of Kulicke and Soffa Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. True Wealth Design LLC boosted its stake in shares of Kulicke and Soffa Industries by 7,609.1% in the 2nd quarter. True Wealth Design LLC now owns 848 shares of the semiconductor company's stock valued at $29,000 after buying an additional 837 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Kulicke and Soffa Industries by 789.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 925 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 821 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Kulicke and Soffa Industries during the second quarter worth approximately $34,000. Fifth Third Bancorp lifted its stake in 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 purchasing an additional 606 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in 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 purchasing an additional 910 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

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.