Pinpoint Asset Management Ltd Invests $4.06 Million in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Pinpoint Asset Management Ltd purchased a new stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 90,000 shares of the semiconductor company’s stock, valued at approximately $4,062,000. Kulicke and Soffa Industries makes up about 0.9% of Pinpoint Asset Management Ltd’s investment portfolio, making the stock its 17th biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in Kulicke and Soffa Industries by 37.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company’s stock valued at $52,918,000 after acquiring an additional 291,787 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Kulicke and Soffa Industries by 22.0% during 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 purchasing an additional 264,638 shares during the last quarter. Royce & Associates LP boosted its position in shares of Kulicke and Soffa Industries by 20.3% in the 3rd quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company’s stock valued at $50,154,000 after purchasing an additional 187,673 shares during the period. DDD Partners LLC purchased a new position in Kulicke and Soffa Industries in the 2nd quarter worth about $8,163,000. Finally, Emerald Advisers LLC raised its holdings in Kulicke and Soffa Industries by 57.5% during the 2nd quarter. Emerald Advisers LLC now owns 443,002 shares of the semiconductor company’s stock worth $21,791,000 after buying an additional 161,791 shares during the period. Institutional investors and hedge funds own 98.22% of the company’s stock.

Kulicke and Soffa Industries Price Performance

Shares of KLIC stock opened at $50.36 on Wednesday. Kulicke and Soffa Industries, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $56.71. The stock’s 50-day moving average is $46.11 and its two-hundred day moving average is $45.41. The firm has a market cap of $2.71 billion, a P/E ratio of -40.94 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its earnings results 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 business had revenue of $181.30 million during the quarter, compared to analyst estimates of $180.03 million. During the same quarter last year, the firm earned $0.51 earnings per share. Kulicke and Soffa Industries’s revenue was down 10.4% compared to the same quarter last year. As a group, research analysts expect that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

Kulicke and Soffa Industries declared that its Board of Directors has approved a share buyback 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Kulicke and Soffa Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be given a $0.205 dividend. The ex-dividend date is Thursday, December 19th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s payout ratio is currently -65.04%.

Insider Activity at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, CFO Lester A. Wong sold 60,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $46.37, for a total transaction of $2,782,200.00. Following the completion of the sale, the chief financial officer now directly owns 79,636 shares in the company, valued at $3,692,721.32. This represents a 42.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nelson Munpun Wong sold 30,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $47.56, for a total value of $1,426,800.00. Following the completion of the sale, the senior vice president now directly owns 177,533 shares in the company, valued at approximately $8,443,469.48. This represents a 14.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,730 shares of company stock valued at $4,657,261. Corporate insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on KLIC. StockNews.com downgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Needham & Company LLC upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, November 15th. TD Cowen increased their price objective on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 15th. DA Davidson decreased their price objective on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, November 15th. 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 investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $52.40.

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.