TD Cowen Forecasts Strong Price Appreciation for Kulicke and Soffa Industries (NASDAQ:KLIC) Stock

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price target lifted by stock analysts at TD Cowen from $45.00 to $50.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s target price would indicate a potential upside of 8.25% from the company’s current price.

A number of other analysts have also weighed in on the company. StockNews.com lowered Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Craig Hallum cut their price target on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC raised 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Kulicke and Soffa Industries presently has an average rating of “Hold” and an average price target of $52.40.

Kulicke and Soffa Industries Stock Up 1.3 %

KLIC stock opened at $46.19 on Friday. The firm’s fifty day moving average is $44.27 and its 200 day moving average is $45.36. Kulicke and Soffa Industries has a 52 week low of $38.20 and a 52 week high of $56.71.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings data on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share (EPS) 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 company 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 business posted $0.51 earnings per share. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, research analysts forecast that Kulicke and Soffa Industries will post 1.32 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.

Hedge Funds Weigh In On Kulicke and Soffa Industries

A number of institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new position in shares of Kulicke and Soffa Industries during the 1st quarter worth approximately $29,000. Advisors Asset Management Inc. raised its holdings in Kulicke and Soffa Industries by 137.5% in the third quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 414 shares in the last quarter. Signaturefd LLC lifted its position in Kulicke and Soffa Industries by 226.3% during the third quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 543 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Kulicke and Soffa Industries during the 3rd quarter valued at $53,000. Finally, Blue Trust Inc. grew its position in shares of 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 worth $69,000 after buying an additional 1,366 shares during the period. 98.22% of the stock is owned by institutional investors.

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.