Bank Hapoalim BM Trims Stock Holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Bank Hapoalim BM reduced its stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,385 shares of the semiconductor company’s stock after selling 575 shares during the quarter. Bank Hapoalim BM’s holdings in Kulicke and Soffa Industries were worth $905,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KLIC. Millennium Management LLC lifted its position in shares of Kulicke and Soffa Industries by 418.5% in the second quarter. Millennium Management LLC now owns 69,211 shares of the semiconductor company’s stock valued at $3,404,000 after acquiring an additional 55,862 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Kulicke and Soffa Industries in the second quarter valued at $279,000. Creative Planning increased its stake in Kulicke and Soffa Industries by 3.4% in the second quarter. Creative Planning now owns 11,384 shares of the semiconductor company’s stock valued at $560,000 after purchasing an additional 372 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Kulicke and Soffa Industries by 56.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,741 shares of the semiconductor company’s stock valued at $135,000 after purchasing an additional 990 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Kulicke and Soffa Industries in the second quarter valued at $1,328,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Price Performance

Shares of NASDAQ:KLIC opened at $43.40 on Wednesday. Kulicke and Soffa Industries, Inc. has a 12 month low of $38.20 and a 12 month high of $53.71. The firm has a market capitalization of $2.33 billion, a PE ratio of -35.28 and a beta of 1.36. The business has a 50-day moving average of $47.30 and a two-hundred day moving average of $45.23.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. As a group, research analysts anticipate that Kulicke and Soffa Industries, Inc. will post 1.29 earnings per share for the current year.

Kulicke and Soffa Industries declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 13th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Kulicke and Soffa Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th were paid a $0.205 dividend. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is -66.67%.

Insider Activity

In related news, Director Chin Hu Lim sold 30,000 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $48.11, for a total value of $1,443,300.00. Following the completion of the transaction, the director now owns 59,701 shares of the company’s stock, valued at approximately $2,872,215.11. This represents a 33.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Robert Nestor Chylak sold 11,391 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $49.52, for a total value of $564,082.32. Following the completion of the transaction, the senior vice president now directly owns 20,838 shares of the company’s stock, valued at $1,031,897.76. This represents a 35.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 221,121 shares of company stock worth $10,527,843. 3.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KLIC shares. DA Davidson dropped their target price on 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. StockNews.com upgraded Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. TD Cowen upped their target price on 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. Finally, Needham & Company LLC upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.