Kulicke and Soffa Industries (NASDAQ:KLIC) Announces Quarterly Earnings Results

Kulicke and Soffa Industries (NASDAQ:KLIC) announced its earnings results on Thursday. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.08, Briefing.com reports. The business had revenue of $202.32 million for the quarter, compared to analysts’ expectations of $200.17 million. Kulicke and Soffa Industries had a return on equity of 8.92% and a net margin of 7.70%. The business’s revenue for the quarter was down 29.3% on a year-over-year basis. During the same period last year, the firm posted $1.19 earnings per share.

Kulicke and Soffa Industries Trading Up 3.4 %

KLIC traded up $1.67 on Friday, hitting $50.65. 993,582 shares of the company’s stock traded hands, compared to its average volume of 485,599. The company’s 50 day simple moving average is $46.06 and its 200-day simple moving average is $51.17. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 51.16 and a beta of 1.41. Kulicke and Soffa Industries has a one year low of $40.20 and a one year high of $60.20.

Kulicke and Soffa Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 9th. Investors of record on Thursday, December 21st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, December 20th. This is an increase from Kulicke and Soffa Industries’s previous quarterly dividend of $0.19. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is 76.77%.

Insider Activity at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, SVP Robert Nestor Chylak sold 4,084 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $48.88, for a total value of $199,625.92. Following the sale, the senior vice president now owns 19,609 shares of the company’s stock, valued at approximately $958,487.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Robert Nestor Chylak sold 4,084 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $48.88, for a total value of $199,625.92. Following the completion of the transaction, the senior vice president now owns 19,609 shares in the company, valued at approximately $958,487.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Fusen Ernie Chen sold 30,000 shares of Kulicke and Soffa Industries stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $47.11, for a total value of $1,413,300.00. Following the completion of the transaction, the chief executive officer now owns 1,094,380 shares of the company’s stock, valued at approximately $51,556,241.80. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kulicke and Soffa Industries

A number of large investors have recently bought and sold shares of KLIC. First Horizon Advisors Inc. raised its position in Kulicke and Soffa Industries by 37.7% during the 1st quarter. First Horizon Advisors Inc. now owns 1,259 shares of the semiconductor company’s stock valued at $66,000 after purchasing an additional 345 shares in the last quarter. Point72 Middle East FZE bought a new stake in Kulicke and Soffa Industries during the 4th quarter valued at $65,000. Point72 Hong Kong Ltd bought a new stake in Kulicke and Soffa Industries during the 2nd quarter valued at $89,000. Lazard Asset Management LLC bought a new stake in Kulicke and Soffa Industries during the 3rd quarter valued at $164,000. Finally, Hsbc Holdings PLC bought a new stake in Kulicke and Soffa Industries during the 2nd quarter valued at $205,000. Hedge funds and other institutional investors own 98.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on KLIC. StockNews.com began coverage on Kulicke and Soffa Industries in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. B. Riley raised their price objective on Kulicke and Soffa Industries from $52.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Craig Hallum raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday.

About Kulicke and Soffa Industries

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.