Edgestream Partners L.P. Sells 70,055 Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Edgestream Partners L.P. lowered its position in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 46.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 79,189 shares of the semiconductor company’s stock after selling 70,055 shares during the quarter. Edgestream Partners L.P.’s holdings in Kulicke and Soffa Industries were worth $3,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in shares of Kulicke and Soffa Industries by 137.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 414 shares during the period. Signaturefd LLC grew its stake in Kulicke and Soffa Industries by 226.3% in the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 543 shares in the last quarter. Blue Trust Inc. grew its stake in Kulicke and Soffa Industries by 17,075.0% in the 2nd quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock valued at $69,000 after buying an additional 1,366 shares in the last quarter. Innealta Capital LLC purchased a new position in Kulicke and Soffa Industries in the 2nd quarter valued at approximately $73,000. Finally, CWM LLC grew its stake in Kulicke and Soffa Industries by 101.8% in the 3rd quarter. CWM LLC now owns 1,923 shares of the semiconductor company’s stock valued at $87,000 after buying an additional 970 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

Insider Activity

In related news, EVP Chan Pin Chong sold 9,730 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.07, for a total transaction of $448,261.10. Following the transaction, the executive vice president now owns 81,916 shares in the company, valued at $3,773,870.12. The trade was a 10.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lester A. Wong sold 60,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $46.37, for a total transaction of $2,782,200.00. Following the transaction, the chief financial officer now owns 79,636 shares in the company, valued at $3,692,721.32. This represents a 42.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,730 shares of company stock valued at $4,657,261. Insiders own 0.03% of the company’s stock.

Kulicke and Soffa Industries Stock Up 2.1 %

Kulicke and Soffa Industries stock opened at $48.42 on Monday. The company has a market capitalization of $2.61 billion, a PE ratio of -39.37 and a beta of 1.38. The firm has a fifty day simple moving average of $45.77 and a two-hundred day simple moving average of $45.37. Kulicke and Soffa Industries, Inc. has a twelve month low of $38.20 and a twelve month high of $56.71.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The business had revenue of $181.30 million during the quarter, compared to the consensus estimate of $180.03 million. Kulicke and Soffa Industries had a negative return on equity of 0.92% and a negative net margin of 9.77%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, equities analysts expect that Kulicke and Soffa Industries, Inc. will post 1.29 earnings per share for the current fiscal year.

Kulicke and Soffa Industries declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, November 13th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Kulicke and Soffa Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 1.69%. This is an increase from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio is -65.04%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on KLIC shares. DA Davidson reduced their price objective on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 15th. TD Cowen lifted their price objective on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, November 15th. Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Friday, November 15th. StockNews.com lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Finally, Craig Hallum reduced their price target 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.40.

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.