Bank of America Corp DE Boosts Stake in Kulicke and Soffa Industries, Inc. (KLIC)

Bank of America Corp DE boosted its stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 17.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,630 shares of the semiconductor company’s stock after buying an additional 36,155 shares during the period. Bank of America Corp DE owned 0.34% of Kulicke and Soffa Industries worth $4,889,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in KLIC. Dalton Greiner Hartman Maher & Co. raised its stake in Kulicke and Soffa Industries by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 153,087 shares of the semiconductor company’s stock valued at $3,111,000 after buying an additional 557 shares during the period. Navellier & Associates Inc purchased a new stake in Kulicke and Soffa Industries during the first quarter valued at about $1,004,000. State of Alaska Department of Revenue raised its stake in shares of Kulicke and Soffa Industries by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 7,830 shares of the semiconductor company’s stock worth $159,000 after buying an additional 210 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Kulicke and Soffa Industries by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the semiconductor company’s stock worth $587,000 after buying an additional 400 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Kulicke and Soffa Industries during the first quarter worth $573,000. Hedge funds and other institutional investors own 98.49% of the company’s stock.

Shares of Kulicke and Soffa Industries, Inc. (KLIC) opened at 18.90 on Friday. Kulicke and Soffa Industries, Inc. has a one year low of $11.29 and a one year high of $23.00. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 15.71 and a beta of 1.25. The company’s 50-day moving average is $20.56 and its 200-day moving average is $20.69.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.21. The company had revenue of $243.90 million during the quarter, compared to analyst estimates of $245.02 million. Kulicke and Soffa Industries had a net margin of 11.61% and a return on equity of 11.88%. Kulicke and Soffa Industries’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. On average, equities analysts predict that Kulicke and Soffa Industries, Inc. will post $1.40 EPS for the current year.

Kulicke and Soffa Industries announced that its Board of Directors has initiated 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 buy up to 7.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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KLIC has been the subject of a number of research analyst reports. B. Riley reiterated a “buy” rating and set a $31.00 price objective on shares of Kulicke and Soffa Industries in a report on Tuesday, July 4th. BidaskClub lowered shares of Kulicke and Soffa Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. ValuEngine upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $28.50.

About Kulicke and Soffa Industries

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.

Institutional Ownership by Quarter for Kulicke and Soffa Industries (NASDAQ:KLIC)

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