Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Sees Large Growth in Short Interest

Kulicke and Soffa Industries, Inc. (NASDAQ:KLICGet Rating) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 7,360,000 shares, an increase of 19.9% from the March 31st total of 6,140,000 shares. Based on an average daily volume of 896,700 shares, the short-interest ratio is presently 8.2 days. Currently, 12.1% of the shares of the stock are short sold.

A number of research firms have commented on KLIC. B. Riley lowered Kulicke and Soffa Industries from a “buy” rating to a “neutral” rating and reduced their price target for the company from $80.00 to $59.00 in a research report on Tuesday, April 12th. Zacks Investment Research downgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, April 20th. StockNews.com started coverage on shares of Kulicke and Soffa Industries in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Needham & Company LLC cut shares of Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a research report on Friday, February 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Kulicke and Soffa Industries currently has a consensus rating of “Hold” and an average price target of $77.20.

Shares of NASDAQ:KLIC traded down $0.51 during mid-day trading on Thursday, hitting $50.23. The company had a trading volume of 15,196 shares, compared to its average volume of 742,276. The firm has a fifty day moving average price of $53.32 and a 200 day moving average price of $55.59. The company has a market capitalization of $3.13 billion, a PE ratio of 7.12 and a beta of 1.30. Kulicke and Soffa Industries has a one year low of $43.41 and a one year high of $75.29.

Kulicke and Soffa Industries (NASDAQ:KLICGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The semiconductor company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.48. The firm had revenue of $384.28 million during the quarter, compared to the consensus estimate of $380.25 million. Kulicke and Soffa Industries had a net margin of 26.45% and a return on equity of 45.90%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. On average, equities research analysts predict that Kulicke and Soffa Industries will post 6.14 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 11th. Investors of record on Thursday, March 24th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Wednesday, March 23rd. Kulicke and Soffa Industries’s payout ratio is currently 9.54%.

Kulicke and Soffa Industries declared that its board has authorized a stock repurchase program on Thursday, March 3rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 13.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In other Kulicke and Soffa Industries news, Director Chin Hu Lim acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 11th. The stock was acquired at an average price of $51.50 per share, for a total transaction of $103,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. First Trust Advisors LP bought a new stake in shares of Kulicke and Soffa Industries in the first quarter valued at approximately $350,000. Morgan Stanley boosted its stake in shares of Kulicke and Soffa Industries by 8.5% in the 2nd quarter. Morgan Stanley now owns 397,499 shares of the semiconductor company’s stock valued at $24,326,000 after purchasing an additional 31,016 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Kulicke and Soffa Industries by 92.8% in the 3rd quarter. SG Americas Securities LLC now owns 7,841 shares of the semiconductor company’s stock valued at $457,000 after purchasing an additional 3,774 shares in the last quarter. AE Wealth Management LLC boosted its stake in shares of Kulicke and Soffa Industries by 19.1% in the 3rd quarter. AE Wealth Management LLC now owns 6,749 shares of the semiconductor company’s stock valued at $393,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Kulicke and Soffa Industries in the 3rd quarter valued at $988,000. 97.02% of the stock is currently owned by institutional investors and hedge funds.

About Kulicke and Soffa Industries (Get Rating)

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through two segments, Capital Equipment, and Aftermarket Products and Services (APS). The company manufactures and sells advanced displays; die-transfer, flip-chip, and TCB advanced packaging products; ball bonder, die-attach, electronics assembly, lithography, wafer-level bonder, and wedge bonder products; consumables, such as capillaries, dicing blades, and wedge bonds; and auto offline programming, KNet PLUS, and new product introduction/manufacturing execution system software products.

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