TimesSquare Capital Management LLC Trims Holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

TimesSquare Capital Management LLC decreased its holdings in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 599,767 shares of the semiconductor company’s stock after selling 13,890 shares during the period. TimesSquare Capital Management LLC owned 1.06% of Kulicke and Soffa Industries worth $32,819,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KLIC. Victory Capital Management Inc. lifted its stake in Kulicke and Soffa Industries by 31.6% in the third quarter. Victory Capital Management Inc. now owns 2,903,559 shares of the semiconductor company’s stock worth $141,200,000 after acquiring an additional 697,496 shares during the period. Invesco Ltd. lifted its position in shares of Kulicke and Soffa Industries by 102.6% in the 3rd quarter. Invesco Ltd. now owns 673,859 shares of the semiconductor company’s stock worth $32,770,000 after purchasing an additional 341,300 shares during the period. American Century Companies Inc. boosted its stake in shares of Kulicke and Soffa Industries by 9.8% during the 3rd quarter. American Century Companies Inc. now owns 2,821,598 shares of the semiconductor company’s stock valued at $137,214,000 after purchasing an additional 251,773 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Kulicke and Soffa Industries during the fourth quarter valued at about $9,215,000. Finally, Vanguard Group Inc. raised its stake in Kulicke and Soffa Industries by 6.4% in the third quarter. Vanguard Group Inc. now owns 2,670,432 shares of the semiconductor company’s stock worth $129,863,000 after buying an additional 159,483 shares in the last quarter. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. B. Riley cut their price objective on Kulicke and Soffa Industries from $54.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. TheStreet cut shares of Kulicke and Soffa Industries from a “b-” rating to a “c” rating in a report on Wednesday, January 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Kulicke and Soffa Industries in a research note on Friday, May 3rd. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Kulicke and Soffa Industries has an average rating of “Hold” and an average target price of $59.00.

Kulicke and Soffa Industries Price Performance

KLIC stock traded up $0.19 on Wednesday, reaching $48.21. 399,487 shares of the company traded hands, compared to its average volume of 477,696. The firm has a fifty day simple moving average of $48.14 and a 200-day simple moving average of $49.30. The company has a market cap of $2.67 billion, a P/E ratio of -40.51 and a beta of 1.48. Kulicke and Soffa Industries, Inc. has a one year low of $40.20 and a one year high of $60.20.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings results on Wednesday, May 1st. The semiconductor company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($1.19). Kulicke and Soffa Industries had a positive return on equity of 2.22% and a negative net margin of 8.94%. The company had revenue of $172.10 million during the quarter, compared to analysts’ expectations of $170.20 million. During the same period in the prior year, the firm earned $0.38 EPS. Kulicke and Soffa Industries’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts forecast that Kulicke and Soffa Industries, Inc. will post 1.2 EPS for the current year.

Kulicke and Soffa Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Monday, March 25th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Friday, March 22nd. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is currently -67.23%.

Insider Buying and Selling

In other Kulicke and Soffa Industries news, Director Peter T. M. Kong bought 1,000 shares of Kulicke and Soffa Industries stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $47.51 per share, with a total value of $47,510.00. Following the acquisition, the director now owns 92,072 shares in the company, valued at $4,374,340.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Peter T. M. Kong bought 1,000 shares of the stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $47.51 per share, for a total transaction of $47,510.00. Following the purchase, the director now owns 92,072 shares of the company’s stock, valued at $4,374,340.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Robert Nestor Chylak sold 8,771 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $48.97, for a total transaction of $429,515.87. Following the sale, the senior vice president now directly owns 24,240 shares in the company, valued at approximately $1,187,032.80. The disclosure for this sale can be found here. 0.03% of the stock is owned by company insiders.

Kulicke and Soffa Industries Profile

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.