Kulicke and Soffa Industries (NASDAQ:KLIC) Given New $55.00 Price Target at DA Davidson

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price objective trimmed by DA Davidson from $60.00 to $55.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other analysts have also recently issued reports about the company. Needham & Company LLC cut their price objective on Kulicke and Soffa Industries from $53.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday. TD Cowen reduced their price objective on shares of Kulicke and Soffa Industries from $50.00 to $36.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, StockNews.com upgraded shares of Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Kulicke and Soffa Industries Price Performance

NASDAQ:KLIC opened at $31.85 on Thursday. The company has a 50 day moving average price of $32.83 and a 200-day moving average price of $41.27. Kulicke and Soffa Industries has a 1-year low of $26.63 and a 1-year high of $53.71. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 265.42 and a beta of 1.53.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings data 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 negative return on equity of 1.26% and a net margin of 0.48%. The firm had revenue of $161.99 million during the quarter, compared to analyst estimates of $165.10 million. During the same quarter last year, the company posted ($0.95) EPS. The company’s revenue was down 5.9% on a year-over-year basis. On average, sell-side analysts anticipate that Kulicke and Soffa Industries will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Thursday, March 20th were issued a $0.205 dividend. The ex-dividend date was Thursday, March 20th. This represents a $0.82 dividend on an annualized basis and a yield of 2.57%. Kulicke and Soffa Industries’s payout ratio is currently 683.33%.

Institutional Investors Weigh In On Kulicke and Soffa Industries

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Kulicke and Soffa Industries by 6.0% in the first quarter. Vanguard Group Inc. now owns 3,476,131 shares of the semiconductor company’s stock worth $114,643,000 after buying an additional 197,619 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Kulicke and Soffa Industries by 6.1% in the 1st quarter. Victory Capital Management Inc. now owns 2,699,897 shares of the semiconductor company’s stock worth $89,043,000 after purchasing an additional 156,144 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Kulicke and Soffa Industries by 68.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,762,112 shares of the semiconductor company’s stock worth $82,220,000 after purchasing an additional 717,832 shares during the last quarter. Copeland Capital Management LLC grew its position in shares of Kulicke and Soffa Industries by 2.3% in the fourth quarter. Copeland Capital Management LLC now owns 1,502,640 shares of the semiconductor company’s stock valued at $70,113,000 after purchasing an additional 33,124 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Kulicke and Soffa Industries by 16.0% in the first quarter. Royce & Associates LP now owns 1,351,392 shares of the semiconductor company’s stock valued at $44,569,000 after purchasing an additional 185,964 shares during the last quarter. Hedge funds and other institutional investors 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.