Zacks Investment Research Upgrades Kulicke and Soffa Industries (KLIC) to Strong-Buy

Zacks Investment Research upgraded shares of Kulicke and Soffa Industries (NASDAQ:KLIC) from a sell rating to a strong-buy rating in a report issued on Wednesday. The firm currently has $24.00 price objective on the semiconductor company’s stock.

According to Zacks, “Kulicke & Soffa is a leading provider of semiconductor packaging and electronic assembly solutions supporting the global automotive, consumer, communications, computing and industrial segments. As a pioneer in the semiconductor space, K&S has provided customers with market leading packaging solutions for decades. In recent years, K&S has expanded its product offerings through strategic acquisitions and organic development, adding advanced packaging, electronics assembly, wedge bonding and a broader range of expendable tools to its core offerings. Combined with its extensive expertise in process technology and focus on development, K&S is well positioned to help customers meet the challenges of packaging and assembling the next-generation of electronic devices. “

A number of other analysts also recently weighed in on the stock. ValuEngine raised shares of Kulicke and Soffa Industries from a buy rating to a strong-buy rating in a report on Friday, February 2nd. B. Riley reaffirmed a buy rating and set a $36.00 price target on shares of Kulicke and Soffa Industries in a research note on Thursday, February 1st. BidaskClub downgraded shares of Kulicke and Soffa Industries from a buy rating to a hold rating in a research note on Thursday, January 25th. DA Davidson raised their price target on shares of Kulicke and Soffa Industries to $35.00 and gave the company a buy rating in a research note on Wednesday, November 15th. Finally, Bank of America increased their price objective on shares of Kulicke and Soffa Industries from $15.50 to $18.50 and gave the stock an underperform rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $28.38.

Kulicke and Soffa Industries (NASDAQ KLIC) opened at $21.39 on Wednesday. Kulicke and Soffa Industries has a 52 week low of $18.22 and a 52 week high of $28.71. The company has a market cap of $1,530.00, a PE ratio of 61.11, a P/E/G ratio of 0.79 and a beta of 1.36. The company has a quick ratio of 5.08, a current ratio of 5.72 and a debt-to-equity ratio of 0.02.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings results on Wednesday, January 31st. The semiconductor company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.28. Kulicke and Soffa Industries had a net margin of 3.10% and a return on equity of 16.70%. The business had revenue of $213.70 million for the quarter, compared to analyst estimates of $189.48 million. During the same quarter in the prior year, the business earned $0.22 EPS. Kulicke and Soffa Industries’s quarterly revenue was up 42.8% on a year-over-year basis. equities analysts forecast that Kulicke and Soffa Industries will post 2.23 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of KLIC. Wells Fargo & Company MN increased its position in shares of Kulicke and Soffa Industries by 71.4% during the fourth quarter. Wells Fargo & Company MN now owns 5,879 shares of the semiconductor company’s stock worth $143,000 after buying an additional 2,449 shares during the period. Advisor Group Inc. increased its position in shares of Kulicke and Soffa Industries by 11,247.9% during the second quarter. Advisor Group Inc. now owns 8,057 shares of the semiconductor company’s stock worth $153,000 after buying an additional 7,986 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Kulicke and Soffa Industries by 43.0% during the third quarter. Envestnet Asset Management Inc. now owns 9,079 shares of the semiconductor company’s stock worth $195,000 after buying an additional 2,731 shares during the period. LS Investment Advisors LLC increased its position in shares of Kulicke and Soffa Industries by 247.1% during the fourth quarter. LS Investment Advisors LLC now owns 8,536 shares of the semiconductor company’s stock worth $208,000 after buying an additional 6,077 shares during the period. Finally, FDx Advisors Inc. acquired a new stake in shares of Kulicke and Soffa Industries during the fourth quarter worth $255,000. Institutional investors own 84.05% of the company’s stock.

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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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