Cowen Reiterates “Hold” Rating for Kulicke and Soffa Industries (KLIC)

Kulicke and Soffa Industries (NASDAQ:KLIC)‘s stock had its “hold” rating restated by equities researchers at Cowen in a note issued to investors on Monday, February 4th. They currently have a $22.00 price objective on the semiconductor company’s stock. Cowen’s target price would suggest a potential downside of 6.14% from the company’s current price.

Several other equities analysts have also issued reports on KLIC. BidaskClub lowered shares of Kulicke and Soffa Industries from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 13th. ValuEngine raised shares of Kulicke and Soffa Industries from a “strong sell” rating to a “sell” rating in a report on Monday, November 26th. Craig Hallum initiated coverage on shares of Kulicke and Soffa Industries in a report on Tuesday, November 20th. They set a “buy” rating and a $30.00 price objective on the stock. B. Riley cut their price objective on shares of Kulicke and Soffa Industries from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, November 20th. Finally, Zacks Investment Research lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “strong sell” rating in a report on Friday, November 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Kulicke and Soffa Industries currently has a consensus rating of “Hold” and an average price target of $28.40.

Shares of Kulicke and Soffa Industries stock traded up $0.12 on Monday, hitting $23.44. 284,357 shares of the company traded hands, compared to its average volume of 600,292. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.81 and a current ratio of 6.58. Kulicke and Soffa Industries has a 52 week low of $17.40 and a 52 week high of $28.69. The company has a market capitalization of $1.56 billion, a PE ratio of 9.65, a P/E/G ratio of 2.33 and a beta of 1.13.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings results on Thursday, January 31st. The semiconductor company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.05. Kulicke and Soffa Industries had a net margin of 16.06% and a return on equity of 16.99%. The firm had revenue of $157.21 million during the quarter, compared to the consensus estimate of $155.00 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. On average, analysts forecast that Kulicke and Soffa Industries will post 0.84 earnings per share for the current year.

Kulicke and Soffa Industries declared that its board has initiated a stock buyback program on Thursday, January 31st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC grew its holdings in Kulicke and Soffa Industries by 5.0% in the fourth quarter. EP Wealth Advisors LLC now owns 10,500 shares of the semiconductor company’s stock worth $213,000 after purchasing an additional 500 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in Kulicke and Soffa Industries by 56.4% in the fourth quarter. Proficio Capital Partners LLC now owns 1,472 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 531 shares during the last quarter. Advisory Services Network LLC grew its holdings 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 worth $25,000 after purchasing an additional 631 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Kulicke and Soffa Industries by 3.1% during the fourth quarter. State of Alaska Department of Revenue now owns 22,461 shares of the semiconductor company’s stock worth $455,000 after buying an additional 668 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Kulicke and Soffa Industries by 14.0% during the fourth quarter. Bank of Montreal Can now owns 7,218 shares of the semiconductor company’s stock worth $147,000 after buying an additional 886 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Kulicke and Soffa Industries Company Profile

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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