Summit Global Investments Makes New Investment in Kulicke and Soffa Industries, Inc. $KLIC

Summit Global Investments purchased a new stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 33,121 shares of the semiconductor company’s stock, valued at approximately $1,346,000.

Other institutional investors also recently modified their holdings of the company. Creative Planning lifted its holdings in Kulicke and Soffa Industries by 63.3% during the 2nd quarter. Creative Planning now owns 56,706 shares of the semiconductor company’s stock worth $1,962,000 after purchasing an additional 21,983 shares in the last quarter. Copeland Capital Management LLC grew its holdings in Kulicke and Soffa Industries by 14.5% during the 2nd quarter. Copeland Capital Management LLC now owns 1,645,508 shares of the semiconductor company’s stock valued at $56,935,000 after buying an additional 207,899 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Kulicke and Soffa Industries by 134.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,858 shares of the semiconductor company’s stock valued at $693,000 after buying an additional 10,826 shares during the period. American Century Companies Inc. lifted its holdings in shares of Kulicke and Soffa Industries by 20.4% in the second quarter. American Century Companies Inc. now owns 2,313,378 shares of the semiconductor company’s stock worth $80,043,000 after buying an additional 392,691 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in Kulicke and Soffa Industries during the third quarter valued at approximately $17,532,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Stock Performance

Shares of NASDAQ:KLIC opened at $57.33 on Friday. The firm has a market capitalization of $3.00 billion, a PE ratio of -2,865.07 and a beta of 1.63. Kulicke and Soffa Industries, Inc. has a 52-week low of $26.63 and a 52-week high of $60.00. The firm has a fifty day moving average of $50.55 and a 200 day moving average of $42.40.

Kulicke and Soffa Industries (NASDAQ:KLIC) last issued its quarterly earnings results on Thursday, November 20th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.06. Kulicke and Soffa Industries had a negative return on equity of 1.64% and a net margin of 0.03%.The firm had revenue of $177.56 million during the quarter, compared to analyst estimates of $169.84 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that Kulicke and Soffa Industries, Inc. will post 0.93 EPS for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Thursday, December 18th were paid a $0.205 dividend. The ex-dividend date of this dividend was Thursday, December 18th. This represents a $0.82 annualized dividend and a yield of 1.4%. Kulicke and Soffa Industries’s dividend payout ratio is currently -4,100.00%.

Insider Activity at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, General Counsel Zi Yao Lim sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the transaction, the general counsel directly owned 23,714 shares in the company, valued at $1,067,130. This trade represents a 4.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Nelson Munpun Wong sold 30,000 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $56.53, for a total transaction of $1,695,900.00. Following the transaction, the senior vice president directly owned 126,369 shares in the company, valued at $7,143,639.57. This trade represents a 19.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 36,204 shares of company stock valued at $2,003,450. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on KLIC shares. B. Riley reiterated a “neutral” rating and issued a $39.00 target price (up from $35.00) on shares of Kulicke and Soffa Industries in a research note on Friday, November 21st. DA Davidson reiterated a “buy” rating and issued a $55.00 price objective on shares of Kulicke and Soffa Industries in a research report on Friday, November 21st. Zacks Research lowered Kulicke and Soffa Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Wall Street Zen upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating in a research note on Sunday, January 25th. Finally, Needham & Company LLC raised their price target on Kulicke and Soffa Industries from $57.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kulicke and Soffa Industries presently has a consensus rating of “Hold” and an average price target of $49.00.

Kulicke and Soffa Industries Profile

Kulicke & Soffa Industries (NASDAQ:KLIC) is a global supplier of semiconductor and LED assembly equipment. The company specializes in the design, development and manufacture of advanced die bonding, wire bonding, flip-chip bumping and wafer-level packaging systems. Its solutions support a wide range of applications in consumer electronics, automotive, communications and other high-growth segments within the semiconductor and LED industries.

Key products include precision wire bonders for microelectronic packaging, die attach systems for chip placement, flip-chip bonders for advanced packaging architectures and LED packaging platforms that enable high-volume production of automotive and general-illumination LEDs.