Kulicke and Soffa Industries (NASDAQ:KLIC) Given New $40.00 Price Target at Needham & Company LLC

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 target price raised by stock analysts at Needham & Company LLC from $37.00 to $40.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor company's stock. Needham & Company LLC's price objective points to a potential upside of 14.09% from the company's current price.

A number of other brokerages have also recently weighed in on KLIC. DA Davidson decreased 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. TD Cowen upped their price objective on Kulicke and Soffa Industries from $36.00 to $38.00 and gave the stock a "hold" rating in a research note on Thursday.

Kulicke and Soffa Industries Price Performance

Shares of KLIC stock traded down $0.36 during mid-day trading on Thursday, hitting $35.06. The stock had a trading volume of 531,081 shares, compared to its average volume of 514,490. Kulicke and Soffa Industries has a 12-month low of $26.63 and a 12-month high of $52.08. The firm has a market capitalization of $1.83 billion, a P/E ratio of 438.25 and a beta of 1.52. The firm's 50-day moving average is $34.74 and its two-hundred day moving average is $35.14.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The semiconductor company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The business 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 business's revenue for the quarter was down 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 EPS. Analysts expect that Kulicke and Soffa Industries will post 0.93 EPS for the current year.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC raised its stake in Kulicke and Soffa Industries by 7,609.1% in the second 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 last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Kulicke and Soffa Industries by 789.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 925 shares of the semiconductor company's stock valued at $32,000 after buying an additional 821 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Kulicke and Soffa Industries in the second quarter valued at about $34,000. Menard Financial Group LLC purchased a new stake in Kulicke and Soffa Industries in the fourth quarter valued at about $54,000. Finally, Fifth Third Bancorp raised its stake in Kulicke and Soffa Industries by 99.7% in the first quarter. Fifth Third Bancorp now owns 1,214 shares of the semiconductor company's stock valued at $40,000 after buying an additional 606 shares during the last quarter. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.