DA Davidson Lowers Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target to $60.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its target price decreased by DA Davidson from $65.00 to $60.00 in a research report released on Friday,Benzinga reports. DA Davidson currently has a buy rating on the semiconductor company’s stock. DA Davidson also issued estimates for Kulicke and Soffa Industries’ FY2025 earnings at $1.32 EPS.

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

Kulicke and Soffa Industries Price Performance

NASDAQ:KLIC opened at $46.33 on Friday. The company’s 50-day moving average is $44.27 and its two-hundred day moving average is $45.36. Kulicke and Soffa Industries has a 1-year low of $38.20 and a 1-year high of $56.71. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -37.55 and a beta of 1.38.

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

Kulicke and Soffa Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Thursday, December 19th will be paid a $0.205 dividend. 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. This represents a $0.82 annualized dividend and a dividend yield of 1.77%. Kulicke and Soffa Industries’s payout ratio is -65.04%.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KLIC. Vanguard Group Inc. raised its position in Kulicke and Soffa Industries by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 2,841,236 shares of the semiconductor company’s stock valued at $142,943,000 after purchasing an additional 128,026 shares in the last quarter. Copeland Capital Management LLC raised its holdings in Kulicke and Soffa Industries by 22.0% in the third quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company’s stock valued at $66,319,000 after acquiring an additional 264,638 shares in the last quarter. Royce & Associates LP raised its holdings in Kulicke and Soffa Industries by 20.3% in the third quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company’s stock valued at $50,154,000 after acquiring an additional 187,673 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Kulicke and Soffa Industries by 37.2% in the second quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company’s stock worth $52,918,000 after acquiring an additional 291,787 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Kulicke and Soffa Industries by 12.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 671,675 shares of the semiconductor company’s stock worth $33,040,000 after acquiring an additional 73,243 shares in the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

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.