MetLife Investment Management LLC Sells 1,674 Shares of Kulicke and Soffa Industries, Inc. $KLIC

MetLife Investment Management LLC trimmed its position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 5.2% during the first quarter, HoldingsChannel.com reports. The fund owned 30,668 shares of the semiconductor company’s stock after selling 1,674 shares during the quarter. MetLife Investment Management LLC’s holdings in Kulicke and Soffa Industries were worth $1,011,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in KLIC. Point72 Hong Kong Ltd bought a new position in Kulicke and Soffa Industries in the fourth quarter valued at approximately $24,109,000. Point72 Asset Management L.P. bought a new position in Kulicke and Soffa Industries in the fourth quarter valued at approximately $22,134,000. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Kulicke and Soffa Industries by 3,534.6% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 461,555 shares of the semiconductor company’s stock valued at $15,222,000 after acquiring an additional 448,856 shares during the last quarter. Invesco Ltd. increased its stake in Kulicke and Soffa Industries by 188.4% in the first quarter. Invesco Ltd. now owns 681,407 shares of the semiconductor company’s stock valued at $22,473,000 after acquiring an additional 445,148 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Kulicke and Soffa Industries by 286.1% in the fourth quarter. Millennium Management LLC now owns 423,208 shares of the semiconductor company’s stock valued at $19,747,000 after buying an additional 313,595 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Needham & Company LLC raised their target price on shares of Kulicke and Soffa Industries from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. TD Cowen raised their target price on shares of Kulicke and Soffa Industries from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.33.

Kulicke and Soffa Industries Price Performance

Shares of Kulicke and Soffa Industries stock opened at $38.21 on Friday. Kulicke and Soffa Industries, Inc. has a fifty-two week low of $26.63 and a fifty-two week high of $52.08. The firm has a market capitalization of $1.99 billion, a P/E ratio of 477.63 and a beta of 1.57. The company’s 50 day moving average price is $35.84 and its two-hundred day moving average price is $34.55.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings results on Wednesday, August 6th. The semiconductor company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $148.41 million for the quarter, compared to analyst estimates of $145.48 million. Kulicke and Soffa Industries had a net margin of 0.90% and a negative return on equity of 1.06%. Kulicke and Soffa Industries’s revenue was down 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, analysts expect that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current year.

Kulicke and Soffa Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Thursday, September 18th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, September 18th. Kulicke and Soffa Industries’s payout ratio is 1,025.00%.

Insider Activity at Kulicke and Soffa Industries

In other news, SVP Nelson Munpun Wong sold 30,000 shares of Kulicke and Soffa Industries stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $37.07, for a total transaction of $1,112,100.00. Following the transaction, the senior vice president owned 147,533 shares in the company, valued at approximately $5,469,048.31. The trade was a 16.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.40% of the company’s stock.

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.