Comerica Bank Has $1.60 Million Position in Kulicke and Soffa Industries, Inc. (KLIC)

Comerica Bank lessened its holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 5.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,813 shares of the semiconductor company’s stock after selling 4,267 shares during the quarter. Comerica Bank owned 0.10% of Kulicke and Soffa Industries worth $1,599,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Legal & General Group Plc raised its position in Kulicke and Soffa Industries by 10.4% in the 2nd quarter. Legal & General Group Plc now owns 121,501 shares of the semiconductor company’s stock worth $2,311,000 after purchasing an additional 11,409 shares during the period. SG Americas Securities LLC raised its position in Kulicke and Soffa Industries by 100.8% in the 2nd quarter. SG Americas Securities LLC now owns 16,911 shares of the semiconductor company’s stock worth $322,000 after purchasing an additional 8,489 shares during the period. Pitcairn Co. purchased a new position in Kulicke and Soffa Industries in the 2nd quarter worth $220,000. ClariVest Asset Management LLC raised its position in Kulicke and Soffa Industries by 17.1% in the 2nd quarter. ClariVest Asset Management LLC now owns 544,043 shares of the semiconductor company’s stock worth $10,346,000 after purchasing an additional 79,342 shares during the period. Finally, Arizona State Retirement System raised its position in Kulicke and Soffa Industries by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 37,063 shares of the semiconductor company’s stock worth $705,000 after purchasing an additional 100 shares during the period. Institutional investors own 84.91% of the company’s stock.

A number of equities analysts recently commented on KLIC shares. B. Riley reiterated a “buy” rating and issued a $31.00 target price on shares of Kulicke and Soffa Industries in a research report on Wednesday, August 2nd. BidaskClub cut shares of Kulicke and Soffa Industries from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. ValuEngine upgraded shares of Kulicke and Soffa Industries from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research cut shares of Kulicke and Soffa Industries from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Kulicke and Soffa Industries currently has a consensus rating of “Buy” and a consensus price target of $26.50.

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Kulicke and Soffa Industries, Inc. (KLIC) opened at 19.16 on Wednesday. Kulicke and Soffa Industries, Inc. has a 52-week low of $11.85 and a 52-week high of $23.00. The firm has a 50 day moving average of $19.62 and a 200-day moving average of $20.58. The stock has a market cap of $1.36 billion, a PE ratio of 15.93 and a beta of 1.27.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.21. Kulicke and Soffa Industries had a net margin of 11.61% and a return on equity of 11.88%. The business had revenue of $243.90 million for the quarter, compared to the consensus estimate of $245.02 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts anticipate 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 plan on Tuesday, August 15th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Kulicke and Soffa Industries 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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Institutional Ownership by Quarter for Kulicke and Soffa Industries (NASDAQ:KLIC)

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