Kulicke and Soffa Industries (NASDAQ:KLIC) Stock Rating Upgraded by Needham & Company LLC

Kulicke and Soffa Industries (NASDAQ:KLIC) was upgraded by equities research analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a $55.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 19.07% from the company’s current price.

Several other research analysts have also recently issued reports on the company. StockNews.com cut Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Craig Hallum decreased their target price on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, TD Cowen dropped their price target on shares of Kulicke and Soffa Industries from $52.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.40.

Kulicke and Soffa Industries Price Performance

Kulicke and Soffa Industries stock opened at $46.19 on Friday. Kulicke and Soffa Industries has a 52-week low of $38.20 and a 52-week high of $56.71. The firm has a 50-day moving average price of $44.27 and a two-hundred day moving average price of $45.36.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The business had revenue of $181.30 million for the quarter, compared to the consensus estimate of $180.03 million. During the same period last year, the firm posted $0.51 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. Sell-side analysts anticipate that Kulicke and Soffa Industries will post 1.32 EPS for the current year.

Kulicke and Soffa Industries declared that its board has authorized a stock buyback plan on Wednesday, November 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the semiconductor company to buy up to 11.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Several hedge funds have recently made changes to their positions in KLIC. Headlands Technologies LLC acquired a new position in Kulicke and Soffa Industries in the first quarter worth approximately $29,000. Advisors Asset Management Inc. boosted its stake in shares of Kulicke and Soffa Industries by 137.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 414 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Kulicke and Soffa Industries by 226.3% in the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 543 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kulicke and Soffa Industries during the third quarter worth $53,000. Finally, Blue Trust Inc. raised its position in shares of Kulicke and Soffa Industries by 17,075.0% during the second quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 1,366 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

About Kulicke and Soffa Industries

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.