Needham & Company LLC Issues Pessimistic Forecast for Kulicke and Soffa Industries (NASDAQ:KLIC) Stock Price

Kulicke and Soffa Industries (NASDAQ:KLIC - Free Report) had its target price cut by Needham & Company LLC from $53.00 to $37.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the semiconductor company's stock.

KLIC has been the subject of several other reports. StockNews.com raised Kulicke and Soffa Industries from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. TD Cowen cut their target price on Kulicke and Soffa Industries from $50.00 to $36.00 and set a "hold" rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $44.50.

Kulicke and Soffa Industries Trading Up 0.4 %

Shares of NASDAQ KLIC traded up $0.13 during mid-day trading on Thursday, reaching $31.85. 678,209 shares of the company's stock were exchanged, compared to its average volume of 559,018. The business has a fifty day simple moving average of $32.83 and a 200 day simple moving average of $41.27. Kulicke and Soffa Industries has a twelve month low of $26.63 and a twelve month high of $53.71. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 265.42 and a beta of 1.53.

Kulicke and Soffa Industries (NASDAQ:KLIC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported ($0.52) earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.71). Kulicke and Soffa Industries had a net margin of 0.48% and a negative return on equity of 1.26%. The company had revenue of $161.99 million during the quarter, compared to the consensus estimate of $165.10 million. During the same period in the previous year, the firm posted ($0.95) EPS. The business's quarterly revenue was down 5.9% compared to the same quarter last year. Equities research analysts predict that Kulicke and Soffa Industries will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Investors of record on Thursday, March 20th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.82 annualized dividend and a yield of 2.57%. Kulicke and Soffa Industries's dividend payout ratio (DPR) is presently 227.78%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KLIC. Tower Research Capital LLC TRC grew its stake in shares of Kulicke and Soffa Industries by 9.3% in the fourth 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 in the last quarter. Signaturefd LLC grew its position in shares of Kulicke and Soffa Industries by 35.5% in the 4th quarter. Signaturefd LLC now owns 1,061 shares of the semiconductor company's stock valued at $50,000 after acquiring an additional 278 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of Kulicke and Soffa Industries by 0.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 50,007 shares of the semiconductor company's stock worth $2,333,000 after purchasing an additional 298 shares during the last quarter. Personal CFO Solutions LLC raised its holdings in shares of Kulicke and Soffa Industries by 6.5% in the 4th quarter. Personal CFO Solutions LLC now owns 5,576 shares of the semiconductor company's stock valued at $260,000 after purchasing an additional 341 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in Kulicke and Soffa Industries by 1.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 36,329 shares of the semiconductor company's stock worth $1,695,000 after purchasing an additional 371 shares during the period. Institutional investors and hedge funds own 98.22% of the company's stock.

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.