Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) SVP Robert Nestor Chylak Sells 11,391 Shares

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) SVP Robert Nestor Chylak sold 11,391 shares of Kulicke and Soffa Industries stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $49.52, for a total value of $564,082.32. Following the sale, the senior vice president now directly owns 20,838 shares in the company, valued at approximately $1,031,897.76. The trade was a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Kulicke and Soffa Industries Stock Down 2.6 %

KLIC stock traded down $1.30 during midday trading on Tuesday, reaching $48.84. The company had a trading volume of 588,606 shares, compared to its average volume of 502,968. The stock has a 50 day moving average price of $46.50 and a 200 day moving average price of $45.46. Kulicke and Soffa Industries, Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $56.71. The firm has a market capitalization of $2.63 billion, a PE ratio of -39.71 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $181.30 million for the quarter, compared to the consensus estimate 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 business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.51 EPS. Research analysts predict that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

Kulicke and Soffa Industries announced that its board has authorized a share buyback plan on Wednesday, November 13th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Kulicke and Soffa Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, January 7th 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 1.68%. The ex-dividend date is Thursday, December 19th. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s payout ratio is -65.04%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KLIC shares. 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 note on Friday, November 15th. StockNews.com downgraded Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. TD Cowen lifted their price target 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. Finally, DA Davidson decreased their price target on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.40.

Institutional Investors Weigh In On Kulicke and Soffa Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in Kulicke and Soffa Industries by 85.2% during the third quarter. Barclays PLC now owns 96,604 shares of the semiconductor company’s stock worth $4,361,000 after purchasing an additional 44,429 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Kulicke and Soffa Industries during the third quarter worth approximately $53,000. Kovitz Investment Group Partners LLC raised its holdings in Kulicke and Soffa Industries by 27.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 88,712 shares of the semiconductor company’s stock worth $3,977,000 after purchasing an additional 19,279 shares in the last quarter. Stifel Financial Corp raised its holdings in Kulicke and Soffa Industries by 32.4% during the third quarter. Stifel Financial Corp now owns 48,328 shares of the semiconductor company’s stock worth $2,181,000 after purchasing an additional 11,836 shares in the last quarter. Finally, Systematic Financial Management LP increased its holdings in shares of Kulicke and Soffa Industries by 59.7% in the third quarter. Systematic Financial Management LP now owns 140,269 shares of the semiconductor company’s stock valued at $6,330,000 after buying an additional 52,419 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.

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.