Kulicke and Soffa Industries (NASDAQ:KLIC) Upgraded to Buy by DA Davidson

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Kulicke and Soffa Industries (NASDAQ:KLIC) was upgraded by equities researchers at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued on Thursday, The Fly reports. DA Davidson also issued estimates for Kulicke and Soffa Industries’ Q1 2020 earnings at $0.10 EPS and FY2020 earnings at $1.25 EPS.

Several other equities analysts also recently weighed in on the stock. Cowen lifted their price target on shares of Kulicke and Soffa Industries from $23.00 to $25.00 and gave the company a “market perform” rating in a report on Friday, November 15th. B. Riley reaffirmed a “buy” rating and set a $32.00 price target on shares of Kulicke and Soffa Industries in a report on Monday, November 11th. Zacks Investment Research downgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. BidaskClub downgraded shares of Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a report on Saturday, November 16th. Finally, ValuEngine downgraded shares of Kulicke and Soffa Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Kulicke and Soffa Industries presently has a consensus rating of “Hold” and a consensus target price of $27.67.

KLIC opened at $22.95 on Thursday. The company has a current ratio of 5.12, a quick ratio of 4.61 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 49.89 and a beta of 1.36. The company’s 50 day moving average is $23.84 and its 200 day moving average is $22.17. Kulicke and Soffa Industries has a 12-month low of $17.79 and a 12-month high of $26.95.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings data on Thursday, November 14th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $139.80 million for the quarter, compared to the consensus estimate of $140.11 million. Kulicke and Soffa Industries had a net margin of 2.16% and a return on equity of 3.72%. The firm’s revenue was down 24.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 earnings per share. As a group, analysts predict that Kulicke and Soffa Industries will post 1.27 EPS for the current fiscal year.

In other Kulicke and Soffa Industries news, Director Brian R. Bachman sold 2,000 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the transaction, the director now owns 23,293 shares of the company’s stock, valued at $582,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. Financial Gravity Wealth Inc. lifted its holdings in shares of Kulicke and Soffa Industries by 348.4% in the second quarter. Financial Gravity Wealth Inc. now owns 1,780 shares of the semiconductor company’s stock worth $40,000 after buying an additional 1,383 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Kulicke and Soffa Industries in the second quarter worth $51,000. Tower Research Capital LLC TRC lifted its holdings in shares of Kulicke and Soffa Industries by 25,411.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,296 shares of the semiconductor company’s stock worth $52,000 after buying an additional 2,287 shares in the last quarter. Quantamental Technologies LLC lifted its holdings in shares of Kulicke and Soffa Industries by 31.2% in the second quarter. Quantamental Technologies LLC now owns 3,378 shares of the semiconductor company’s stock worth $76,000 after buying an additional 804 shares in the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in shares of Kulicke and Soffa Industries by 56.2% in the third quarter. First Mercantile Trust Co. now owns 8,385 shares of the semiconductor company’s stock worth $197,000 after buying an additional 3,016 shares in the last quarter. 82.37% of the stock is currently 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 to assemble semiconductor devices. It operates in two segments, Capital Equipment, and Aftermarket Products and Services (APS). The Capital Equipment segment manufactures and sells a line of ball bonders, wedge bonders, advanced packaging, and electronic assembly solutions.

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