Kulicke and Soffa Industries (NASDAQ:KLIC) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research report issued on Tuesday, Zacks.com reports.
According to Zacks, "Kulicke & Soffa is a leading provider of semiconductor packaging and electronic assembly solutions supporting the global automotive, consumer, communications, computing and industrial segments. As a pioneer in the semiconductor space, K&S has provided customers with market leading packaging solutions for decades. In recent years, K&S has expanded its product offerings through strategic acquisitions and organic development, adding advanced packaging, electronics assembly, wedge bonding and a broader range of expendable tools to its core offerings. Combined with its extensive expertise in process technology and focus on development, K&S is well positioned to help customers meet the challenges of packaging and assembling the next-generation of electronic devices. "
A number of other research firms have also recently issued reports on KLIC. BidaskClub upgraded shares of Kulicke and Soffa Industries from a "sell" rating to a "hold" rating in a research report on Wednesday, July 22nd. TheStreet upgraded Kulicke and Soffa Industries from a "c" rating to a "b-" rating in a research note on Thursday, July 30th. Finally, B. Riley upped their target price on Kulicke and Soffa Industries from $26.00 to $29.00 and gave the stock a "buy" rating in a report on Friday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Kulicke and Soffa Industries currently has a consensus rating of "Hold" and a consensus price target of $29.20.
NASDAQ KLIC opened at $23.60 on Tuesday. The firm's 50 day simple moving average is $22.64 and its 200 day simple moving average is $23.31. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 34.71 and a beta of 1.27. Kulicke and Soffa Industries has a 1 year low of $16.91 and a 1 year high of $28.66.
Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Wednesday, July 29th. The semiconductor company reported $0.21 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.15 by $0.06. Kulicke and Soffa Industries had a return on equity of 6.75% and a net margin of 7.33%. The firm had revenue of $150.45 million for the quarter, compared to the consensus estimate of $150.00 million. Equities research analysts predict that Kulicke and Soffa Industries will post 0.8 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC lifted its holdings in Kulicke and Soffa Industries by 21.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 2,744 shares of the semiconductor company's stock worth $57,000 after buying an additional 490 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Kulicke and Soffa Industries in the fourth quarter valued at approximately $94,000. Contravisory Investment Management Inc. acquired a new stake in Kulicke and Soffa Industries during the 2nd quarter valued at approximately $124,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kulicke and Soffa Industries by 43.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,375 shares of the semiconductor company's stock worth $112,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Advisor Group Holdings Inc. acquired a new position in shares of Kulicke and Soffa Industries in the 1st quarter worth approximately $142,000. 87.21% 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 to assemble semiconductor devices. It operates in two segments, Capital Equipment, and Aftermarket Products and Services (APS). The Capital Equipment segment manufactures and sells a line of ball bonders, wedge bonders, advanced packaging, and electronic assembly solutions.
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