Kulicke and Soffa Industries, Inc. (KLIC) Sets New 1-Year High After Better-Than-Expected Earnings

Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) hit a new 52-week high on Tuesday following a stronger than expected earnings report. The company traded as high as $27.70 and last traded at $23.69, with a volume of 980700 shares. The stock had previously closed at $23.61.

The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.21. Kulicke and Soffa Industries had a return on equity of 11.88% and a net margin of 11.61%. The business had revenue of $215.89 million during the quarter, compared to analyst estimates of $208.20 million. During the same period last year, the company earned $0.15 earnings per share. Kulicke and Soffa Industries’s quarterly revenue was up 48.0% compared to the same quarter last year.

Kulicke and Soffa Industries declared that its board has approved a stock buyback program on Tuesday, August 15th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Several equities analysts have commented on KLIC shares. BidaskClub raised shares of Kulicke and Soffa Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. B. Riley reissued a “buy” rating and set a $31.00 target price on shares of Kulicke and Soffa Industries in a research report on Wednesday, August 2nd. Finally, ValuEngine raised shares of Kulicke and Soffa Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $26.50.

Large investors have recently modified their holdings of the company. Advisor Group Inc. grew its position in shares of Kulicke and Soffa Industries by 11,247.9% in the second quarter. Advisor Group Inc. now owns 8,057 shares of the semiconductor company’s stock valued at $153,000 after purchasing an additional 7,986 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Kulicke and Soffa Industries by 19.6% in the second quarter. Goldman Sachs Group Inc. now owns 289,391 shares of the semiconductor company’s stock valued at $5,504,000 after purchasing an additional 47,363 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Kulicke and Soffa Industries by 27.2% in the first quarter. Public Employees Retirement System of Ohio now owns 135,313 shares of the semiconductor company’s stock valued at $2,750,000 after purchasing an additional 28,972 shares during the last quarter. New Jersey Better Educational Savings Trust grew its position in shares of Kulicke and Soffa Industries by 18.5% in the third quarter. New Jersey Better Educational Savings Trust now owns 32,000 shares of the semiconductor company’s stock valued at $690,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Voya Investment Management LLC acquired a new stake in shares of Kulicke and Soffa Industries in the second quarter valued at about $1,362,000. 84.09% of the stock is currently owned by institutional investors.

The stock has a market cap of $1,678.62, a PE ratio of 16.99, a PEG ratio of 1.10 and a beta of 1.34. The company has a current ratio of 4.83, a quick ratio of 4.20 and a debt-to-equity ratio of 0.02.

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Kulicke and Soffa Industries Company Profile

Kulicke and Soffa Industries, Inc designs, manufactures and sells capital equipment and expendable tools, as well as services, maintains, repairs and upgrades equipment, all used to assemble semiconductor devices. The Company supplies a range of bonding equipment. The Company operates through two segments: Equipment and Expendable Tools.

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