Kulicke and Soffa Industries, Inc. (KLIC) Receives $31.00 Average PT from Brokerages

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) has been given an average recommendation of “Buy” by the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $31.00.

Several research firms have recently commented on KLIC. BidaskClub raised shares of Kulicke and Soffa Industries from a “buy” rating to a “strong-buy” rating in a 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 report on Tuesday, August 1st. B. Riley reissued a “buy” rating and issued a $31.00 target price on shares of Kulicke and Soffa Industries in a report on Tuesday, August 8th. Finally, ValuEngine raised shares of Kulicke and Soffa Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st.

Shares of Kulicke and Soffa Industries (NASDAQ:KLIC) traded up 0.27% during trading on Friday, hitting $21.96. 261,663 shares of the stock were exchanged. Kulicke and Soffa Industries has a 52-week low of $12.79 and a 52-week high of $23.00. The stock has a market cap of $1.56 billion, a PE ratio of 18.25 and a beta of 1.33. The firm has a 50 day moving average of $20.13 and a 200-day moving average of $20.64.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.41 by $0.21. Kulicke and Soffa Industries had a net margin of 11.61% and a return on equity of 11.88%. The firm had revenue of $243.90 million for the quarter, compared to the consensus estimate of $245.02 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that Kulicke and Soffa Industries will post $1.40 earnings per share for the current fiscal year.

Kulicke and Soffa Industries announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 15th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Navellier & Associates Inc increased its position in Kulicke and Soffa Industries by 51.9% in the second quarter. Navellier & Associates Inc now owns 75,035 shares of the semiconductor company’s stock worth $1,427,000 after purchasing an additional 25,625 shares during the last quarter. Oak Associates Ltd. OH increased its position in Kulicke and Soffa Industries by 17.8% in the second quarter. Oak Associates Ltd. OH now owns 27,845 shares of the semiconductor company’s stock worth $530,000 after purchasing an additional 4,210 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in Kulicke and Soffa Industries by 10.7% in the second quarter. Dynamic Technology Lab Private Ltd now owns 32,304 shares of the semiconductor company’s stock worth $614,000 after purchasing an additional 3,117 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in Kulicke and Soffa Industries in the second quarter worth $292,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Kulicke and Soffa Industries in the second quarter worth $715,000. Institutional investors own 84.87% of the company’s stock.

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.

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