BlackRock Inc. increased its position in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 909,858.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,532,549 shares of the semiconductor company’s stock after buying an additional 5,531,941 shares during the period. BlackRock Inc. owned about 7.80% of Kulicke and Soffa Industries worth $112,421,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in KLIC. State Street Corp raised its position in Kulicke and Soffa Industries by 27.8% in the fourth quarter. State Street Corp now owns 403,070 shares of the semiconductor company’s stock worth $6,430,000 after buying an additional 87,571 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Kulicke and Soffa Industries by 24.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,634 shares of the semiconductor company’s stock worth $123,000 after buying an additional 1,482 shares in the last quarter. AQR Capital Management LLC raised its position in Kulicke and Soffa Industries by 15.9% in the fourth quarter. AQR Capital Management LLC now owns 139,534 shares of the semiconductor company’s stock worth $2,226,000 after buying an additional 19,093 shares in the last quarter. Norges Bank acquired a new position in Kulicke and Soffa Industries during the fourth quarter worth approximately $19,491,000. Finally, Quadrature Capital Ltd acquired a new position in Kulicke and Soffa Industries during the fourth quarter worth approximately $205,000. 98.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Kulicke and Soffa Industries, Inc. (KLIC) opened at 18.62 on Friday. Kulicke and Soffa Industries, Inc. has a 12-month low of $11.29 and a 12-month high of $23.00. The company’s 50-day moving average is $20.57 and its 200-day moving average is $20.69. The stock has a market cap of $1.32 billion, a P/E ratio of 15.48 and a beta of 1.25.
Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.21. The business had revenue of $243.90 million for the quarter, compared to the consensus estimate of $245.02 million. Kulicke and Soffa Industries had a net margin of 11.61% and a return on equity of 11.88%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. On average, analysts expect that Kulicke and Soffa Industries, Inc. will post $1.40 earnings per share for the current fiscal year.
Kulicke and Soffa Industries announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 15th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the semiconductor company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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A number of research analysts have recently issued reports on KLIC shares. BidaskClub lowered shares of Kulicke and Soffa Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, May 3rd. B. Riley reiterated a “buy” rating and set a $31.00 price target on shares of Kulicke and Soffa Industries in a research note on Thursday, June 29th. Finally, ValuEngine upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $28.50.
Kulicke and Soffa Industries Company Profile
Kulicke and Soffa Industries, Inc designs, manufactures and sells capital equipment and expendable tools, as well as services, maintains, repairs and upgrades equipment, all used to assemble semiconductor devices. The Company supplies a range of bonding equipment. The Company operates through two segments: Equipment and Expendable Tools.
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