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

Kulicke and Soffa Industries (NASDAQ:KLIC) had its target price dropped by analysts at DA Davidson from $65.00 to $60.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. DA Davidson’s price target points to a potential upside of 30.43% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. 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 on the stock in a report on Friday. TD Cowen raised their price target 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 lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Craig Hallum dropped their target price on 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $52.40.

Kulicke and Soffa Industries Price Performance

Shares of KLIC stock traded up $0.39 on Friday, hitting $46.00. The stock had a trading volume of 492,332 shares, compared to its average volume of 496,879. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -37.40 and a beta of 1.38. Kulicke and Soffa Industries has a 12-month low of $38.20 and a 12-month high of $56.71. The business has a 50 day moving average of $44.12 and a 200 day moving average of $45.37.

Kulicke and Soffa Industries announced that its Board of Directors has authorized a share repurchase plan on Wednesday, November 13th that authorizes the company to buyback $300.00 million in 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several large investors have recently added to or reduced their stakes in KLIC. Headlands Technologies LLC acquired a new position in shares of Kulicke and Soffa Industries during the first quarter valued at about $29,000. Advisors Asset Management Inc. lifted its position in shares of Kulicke and Soffa Industries by 137.5% during 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 grew its holdings in Kulicke and Soffa Industries by 226.3% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 543 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Kulicke and Soffa Industries by 17,075.0% during the second quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 1,366 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in Kulicke and Soffa Industries during the 2nd quarter valued at approximately $73,000. 98.22% of the stock is owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Company 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.