Kulicke and Soffa Industries (NASDAQ:KLIC) Sees Large Volume Increase – Here’s What Happened

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) saw unusually-strong trading volume on Monday . Approximately 953,109 shares changed hands during mid-day trading, an increase of 65% from the previous session’s volume of 576,068 shares.The stock last traded at $34.25 and had previously closed at $33.17.

Analyst Ratings Changes

A number of research firms have commented on KLIC. DA Davidson decreased their target price on shares of Kulicke and Soffa Industries from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC decreased their price objective on shares of Kulicke and Soffa Industries from $53.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, TD Cowen dropped their target price on shares of Kulicke and Soffa Industries from $50.00 to $36.00 and set a “hold” rating for the company in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Kulicke and Soffa Industries Stock Performance

The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 287.22 and a beta of 1.53. The firm has a 50-day simple moving average of $31.70 and a two-hundred day simple moving average of $39.33.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced 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). The business had revenue of $161.99 million during the quarter, compared to analyst estimates of $165.10 million. Kulicke and Soffa Industries had a net margin of 0.48% and a negative return on equity of 1.26%. The company’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.95) EPS. As a group, equities analysts forecast that Kulicke and Soffa Industries, Inc. will post 0.93 EPS for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Thursday, June 19th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Wednesday, June 18th. Kulicke and Soffa Industries’s payout ratio is currently 227.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KLIC. Acadian Asset Management LLC acquired a new stake in Kulicke and Soffa Industries in the 1st quarter valued at about $95,000. Jane Street Group LLC raised its holdings in Kulicke and Soffa Industries by 55.7% in the first quarter. Jane Street Group LLC now owns 66,898 shares of the semiconductor company’s stock valued at $2,206,000 after acquiring an additional 23,923 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Kulicke and Soffa Industries by 8.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,842 shares of the semiconductor company’s stock worth $5,140,000 after acquiring an additional 11,522 shares during the last quarter. Woodline Partners LP lifted its stake in Kulicke and Soffa Industries by 1,401.7% in the first quarter. Woodline Partners LP now owns 438,667 shares of the semiconductor company’s stock worth $14,467,000 after acquiring an additional 409,456 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Kulicke and Soffa Industries by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,080 shares of the semiconductor company’s stock worth $1,025,000 after acquiring an additional 877 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

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.