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 to clients and investors 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. “
Several other research analysts have also recently commented on the stock. BidaskClub raised shares of Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a report on Friday, June 21st. ValuEngine raised shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $28.40.
Shares of KLIC opened at $22.28 on Tuesday. Kulicke and Soffa Industries has a 12 month low of $17.40 and a 12 month high of $28.69. The stock’s 50 day simple moving average is $20.71. The company has a market capitalization of $1.44 billion, a PE ratio of 9.17, a PEG ratio of 3.12 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.19 and a quick ratio of 6.35.
Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its earnings results on Thursday, May 2nd. The semiconductor company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.06). Kulicke and Soffa Industries had a return on equity of 12.85% and a net margin of 12.91%. The business had revenue of $115.90 million for the quarter, compared to the consensus estimate of $118.42 million. During the same period in the prior year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was down 47.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Kulicke and Soffa Industries will post 0.59 EPS for the current year.
In other news, Director Peter T. M. Kong acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average cost of $19.37 per share, with a total value of $193,700.00. Following the completion of the purchase, the director now directly owns 64,690 shares of the company’s stock, valued at approximately $1,253,045.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.80% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Advisory Services Network LLC boosted its position in Kulicke and Soffa Industries by 103.1% in the fourth quarter. Advisory Services Network LLC now owns 1,243 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 631 shares in the last quarter. Versant Capital Management Inc boosted its position in Kulicke and Soffa Industries by 758.3% in the first quarter. Versant Capital Management Inc now owns 1,399 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 1,236 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in Kulicke and Soffa Industries in the first quarter valued at approximately $36,000. Valeo Financial Advisors LLC acquired a new stake in Kulicke and Soffa Industries in the first quarter valued at approximately $46,000. Finally, Advisor Group Inc. boosted its position in Kulicke and Soffa Industries by 340.9% in the fourth quarter. Advisor Group Inc. now owns 2,231 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 1,725 shares in the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.
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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