Needham & Company LLC Forecasts Strong Price Appreciation for Kulicke and Soffa Industries (NASDAQ:KLIC) Stock

Key Points

• Needham & Company LLC has raised its price objective for Kulicke and Soffa Industries stock from $37.00 to $40.00, indicating a potential upside of 16.09% from its current price.
• Kulicke and Soffa Industries reported $0.07 earnings per share for the last quarter, beating expectations, but experienced an 18.3% decline in revenue compared to the previous year.
• The company has a consensus rating of "Moderate Buy" with a target price averaging $45.75 among analysts, reflecting positive sentiment towards its stock performance.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) had its price objective raised by Needham & Company LLC from $37.00 to $40.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price target suggests a potential upside of 16.09% from the stock's current price.

A number of other research analysts have also issued reports on KLIC. DA Davidson decreased their target price on shares of Kulicke and Soffa Industries from $60.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. TD Cowen raised their price objective on shares of Kulicke and Soffa Industries from $36.00 to $38.00 and gave the company a "hold" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.75.

Kulicke and Soffa Industries Stock Up 7.3%

Shares of KLIC stock traded up $2.35 during trading on Thursday, reaching $34.46. The company's stock had a trading volume of 608,157 shares, compared to its average volume of 599,762. The business has a fifty day moving average price of $34.58 and a 200-day moving average price of $35.56. Kulicke and Soffa Industries has a one year low of $26.63 and a one year high of $52.08. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 95.11 and a beta of 1.52.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The semiconductor company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $148.41 million for the quarter, compared to analysts' expectations of $145.48 million. During the same quarter in the prior year, the business posted $0.35 EPS. The business's revenue was down 18.3% compared to the same quarter last year. Research analysts anticipate that Kulicke and Soffa Industries will post 0.93 EPS for the current year.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several institutional investors have recently bought and sold shares of KLIC. Tower Research Capital LLC TRC boosted its position in shares of Kulicke and Soffa Industries by 9.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,985 shares of the semiconductor company's stock worth $139,000 after acquiring an additional 254 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Kulicke and Soffa Industries by 43.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,225 shares of the semiconductor company's stock worth $57,000 after purchasing an additional 371 shares during the last quarter. Ifrah Financial Services Inc. grew its holdings in Kulicke and Soffa Industries by 3.0% during the 2nd 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 in the last quarter. Covestor Ltd raised its holdings in shares of Kulicke and Soffa Industries by 27.0% in the 4th quarter. Covestor Ltd now owns 2,041 shares of the semiconductor company's stock valued at $95,000 after purchasing an additional 434 shares in the last quarter. Finally, Meritage Portfolio Management increased 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 valued at $242,000 after buying an additional 452 shares during the period. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Company 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.

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