Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target Cut to $47.00 by Analysts at B. Riley

Kulicke and Soffa Industries (NASDAQ:KLIC) had its target price dropped by analysts at B. Riley from $54.00 to $47.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the semiconductor company’s stock. B. Riley also issued estimates for Kulicke and Soffa Industries’ Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.41 EPS, FY2024 earnings at $0.06 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.33 EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.61 EPS and FY2025 earnings at $1.69 EPS.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Kulicke and Soffa Industries in a report on Friday. TheStreet lowered shares of Kulicke and Soffa Industries from a “b-” rating to a “c” rating in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $59.00.

Kulicke and Soffa Industries Stock Performance

Shares of Kulicke and Soffa Industries stock traded up $0.98 on Friday, hitting $47.00. 535,479 shares of the company traded hands, compared to its average volume of 459,442. The stock’s 50 day moving average price is $48.18 and its 200-day moving average price is $49.22. Kulicke and Soffa Industries has a 52 week low of $40.20 and a 52 week high of $60.20.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its earnings results on Wednesday, May 1st. The semiconductor company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of $0.24 by ($1.19). The firm had revenue of $172.10 million during the quarter, compared to analysts’ expectations of $170.20 million. Kulicke and Soffa Industries had a positive return on equity of 2.22% and a negative net margin of 8.94%. Kulicke and Soffa Industries’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. As a group, equities analysts forecast that Kulicke and Soffa Industries will post 1.2 earnings per share for the current year.

Insider Transactions at Kulicke and Soffa Industries

In related news, SVP Robert Nestor Chylak sold 8,771 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $48.97, for a total transaction of $429,515.87. Following the completion of the sale, the senior vice president now owns 24,240 shares of the company’s stock, valued at $1,187,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On Kulicke and Soffa Industries

A number of large investors have recently made changes to their positions in the business. Sei Investments Co. grew its stake in Kulicke and Soffa Industries by 22.8% during the 3rd quarter. Sei Investments Co. now owns 309,681 shares of the semiconductor company’s stock worth $15,060,000 after buying an additional 57,418 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Kulicke and Soffa Industries by 23.7% during the third quarter. Envestnet Asset Management Inc. now owns 250,207 shares of the semiconductor company’s stock worth $12,168,000 after acquiring an additional 47,903 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of Kulicke and Soffa Industries during the fourth quarter valued at about $981,000. Trexquant Investment LP acquired a new position in shares of Kulicke and Soffa Industries during the third quarter valued at about $1,259,000. Finally, Victory Capital Management Inc. raised its position in shares of Kulicke and Soffa Industries by 3.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,995,493 shares of the semiconductor company’s stock valued at $163,913,000 after purchasing an additional 91,934 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

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.