NJ State Employees Deferred Compensation Plan Increases Stake in Kulicke and Soffa Industries, Inc. (KLIC)

NJ State Employees Deferred Compensation Plan grew its stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 38.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,000 shares of the semiconductor company’s stock after buying an additional 20,000 shares during the period. NJ State Employees Deferred Compensation Plan owned 0.10% of Kulicke and Soffa Industries worth $1,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. OppenheimerFunds Inc. boosted its position in Kulicke and Soffa Industries by 3.1% during the 1st quarter. OppenheimerFunds Inc. now owns 24,169 shares of the semiconductor company’s stock worth $491,000 after purchasing an additional 731 shares during the period. Principal Financial Group Inc. boosted its position in Kulicke and Soffa Industries by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 542,191 shares of the semiconductor company’s stock worth $11,017,000 after purchasing an additional 19,502 shares during the period. Wellington Management Group LLP boosted its position in Kulicke and Soffa Industries by 18.8% during the 1st quarter. Wellington Management Group LLP now owns 189,252 shares of the semiconductor company’s stock worth $3,845,000 after purchasing an additional 29,891 shares during the period. FMR LLC purchased a new stake in Kulicke and Soffa Industries during the 1st quarter worth $1,566,000. Finally, California Public Employees Retirement System boosted its position in Kulicke and Soffa Industries by 2.4% during the 1st quarter. California Public Employees Retirement System now owns 328,270 shares of the semiconductor company’s stock worth $6,670,000 after purchasing an additional 7,600 shares during the period. 83.75% of the stock is owned by institutional investors.

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Shares of Kulicke and Soffa Industries, Inc. (NASDAQ KLIC) traded down 0.97% during mid-day trading on Wednesday, reaching $22.43. 147,720 shares of the company were exchanged. Kulicke and Soffa Industries, Inc. has a 12 month low of $13.08 and a 12 month high of $23.00. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 18.65 and a beta of 1.33. The firm’s 50-day moving average is $21.28 and its 200-day moving average is $20.85.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.21. The business had revenue of $243.90 million for the quarter, compared to the consensus estimate 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 for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. On average, equities analysts forecast that Kulicke and Soffa Industries, Inc. will post $1.40 earnings per share for the current fiscal year.

Kulicke and Soffa Industries declared that its board has authorized a share repurchase plan on Tuesday, August 15th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

A number of brokerages recently weighed in on KLIC. Zacks Investment Research cut shares of Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. 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. BidaskClub cut shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Finally, B. Riley reaffirmed a “buy” rating and set a $31.00 price target on shares of Kulicke and Soffa Industries in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Kulicke and Soffa Industries currently has an average rating of “Buy” and a consensus price target of $26.50.

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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