Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target Raised to $38.00 at TD Cowen

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 target price raised by research analysts at TD Cowen from $36.00 to $38.00 in a research note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage presently has a "hold" rating on the semiconductor company's stock. TD Cowen's price target suggests a potential upside of 18.34% from the stock's previous close.

A number of other research firms have also issued reports on KLIC. Needham & Company LLC reduced their target price on Kulicke and Soffa Industries from $53.00 to $37.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. DA Davidson cut their price target on Kulicke and Soffa Industries from $60.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.00.

Kulicke and Soffa Industries Stock Down 0.8%

Shares of KLIC stock opened at $32.11 on Thursday. The stock has a market capitalization of $1.69 billion, a PE ratio of 89.20 and a beta of 1.52. Kulicke and Soffa Industries has a 52-week low of $26.63 and a 52-week high of $52.08. The stock's 50-day moving average price is $34.58 and its 200 day moving average price is $35.56.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Kulicke and Soffa Industries had a return on equity of 0.76% and a net margin of 3.11%. The firm had revenue of $148.41 million for the quarter, compared to analysts' expectations of $145.48 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The firm's revenue for the quarter was down 18.3% on a year-over-year basis. Analysts expect that Kulicke and Soffa Industries will post 0.93 earnings per share for the current fiscal year.

Institutional Trading of Kulicke and Soffa Industries

Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in Kulicke and Soffa Industries by 9.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,985 shares of the semiconductor company's stock valued at $139,000 after buying an additional 254 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Kulicke and Soffa Industries by 43.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,225 shares of the semiconductor company's stock worth $57,000 after acquiring an additional 371 shares during the last quarter. Ifrah Financial Services Inc. lifted its holdings in Kulicke and Soffa Industries by 3.0% in the second quarter. Ifrah Financial Services Inc. now owns 13,433 shares of the semiconductor company's stock worth $465,000 after acquiring an additional 386 shares during the last quarter. Covestor Ltd raised its holdings in Kulicke and Soffa Industries by 27.0% during the fourth quarter. Covestor Ltd now owns 2,041 shares of the semiconductor company's stock worth $95,000 after purchasing an additional 434 shares in the last quarter. Finally, Meritage Portfolio Management raised its holdings in Kulicke and Soffa Industries by 6.9% during the second quarter. Meritage Portfolio Management now owns 6,983 shares of the semiconductor company's stock worth $242,000 after purchasing an additional 452 shares in the last quarter. 98.22% of the stock is currently 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.

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