Kulicke and Soffa Industries (NASDAQ:KLIC) Sees Large Volume Increase – Should You Buy?

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) saw unusually-high trading volume on Monday . Approximately 953,109 shares were traded during trading, an increase of 65% from the previous session’s volume of 576,068 shares.The stock last traded at $34.25 and had previously closed at $33.17.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KLIC. Needham & Company LLC cut their target price on Kulicke and Soffa Industries from $53.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. TD Cowen cut their price target on Kulicke and Soffa Industries from $50.00 to $36.00 and set a “hold” rating on the stock in a research report on Wednesday, May 7th. Finally, DA Davidson decreased their price objective on Kulicke and Soffa Industries from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Kulicke and Soffa Industries has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Kulicke and Soffa Industries Stock Up 4.1%

The company has a fifty day moving average of $31.70 and a two-hundred day moving average of $39.33. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 287.22 and a beta of 1.53.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.71). The firm had revenue of $161.99 million for the quarter, compared to analysts’ expectations of $165.10 million. Kulicke and Soffa Industries had a negative return on equity of 1.26% and a net margin of 0.48%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.95) EPS. Equities analysts anticipate that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Thursday, June 19th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, June 18th. Kulicke and Soffa Industries’s dividend payout ratio is presently 227.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in shares of Kulicke and Soffa Industries by 68.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,762,112 shares of the semiconductor company’s stock worth $82,220,000 after buying an additional 717,832 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Kulicke and Soffa Industries in the fourth quarter valued at about $24,109,000. Point72 Asset Management L.P. purchased a new stake in shares of Kulicke and Soffa Industries in the fourth quarter valued at about $22,134,000. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Kulicke and Soffa Industries by 3,534.6% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 461,555 shares of the semiconductor company’s stock valued at $15,222,000 after purchasing an additional 448,856 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Kulicke and Soffa Industries by 188.4% during the 1st quarter. Invesco Ltd. now owns 681,407 shares of the semiconductor company’s stock worth $22,473,000 after purchasing an additional 445,148 shares in the last quarter. 98.22% of the stock is owned by hedge funds and other institutional investors.

Kulicke and Soffa Industries Company Profile

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.