The Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Posts Quarterly Earnings Results, Beats Expectations By $0.21 EPS

The Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) Posts Quarterly  Earnings Results, Beats Expectations By $0.21 EPS

Kulicke and Soffa Industries (NASDAQ KLIC) traded down 11.83% on Wednesday, reaching $19.15. The company’s stock had a trading volume of 945,891 shares. Kulicke and Soffa Industries has a 52-week low of $11.29 and a 52-week high of $23.00. The firm’s 50-day moving average price is $20.96 and its 200 day moving average price is $20.59. The company has a market cap of $1.36 billion, a P/E ratio of 15.70 and a beta of 1.25.

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) announced its earnings results on Wednesday. The semiconductor company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.41 by $0.21, Morningstar.com reports. The company had revenue of $243.90 million for the quarter, compared to analysts’ expectations of $245.02 million. Kulicke and Soffa Industries had a return on equity of 10.59% and a net margin of 12.19%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share.

Several institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its position in shares of Kulicke and Soffa Industries by 95.9% in the first quarter. UBS Group AG now owns 5,997 shares of the semiconductor company’s stock valued at $122,000 after buying an additional 2,935 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Kulicke and Soffa Industries by 24.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,634 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 1,482 shares during the period. Creative Planning raised its position in shares of Kulicke and Soffa Industries by 9.7% in the first quarter. Creative Planning now owns 6,765 shares of the semiconductor company’s stock valued at $137,000 after buying an additional 600 shares during the period. State of Alaska Department of Revenue raised its position in shares of Kulicke and Soffa Industries by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 7,830 shares of the semiconductor company’s stock valued at $159,000 after buying an additional 210 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Kulicke and Soffa Industries by 6.2% in the second quarter. Bank of Montreal Can now owns 9,143 shares of the semiconductor company’s stock valued at $173,000 after buying an additional 532 shares during the period. 94.21% of the stock is owned by institutional investors.

KLIC has been the topic of several research reports. B. Riley reaffirmed a “buy” rating and set a $29.50 price target on shares of Kulicke and Soffa Industries in a research note on Tuesday, May 9th. Zacks Investment Research raised Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub lowered Kulicke and Soffa Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, ValuEngine raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $28.50.

About Kulicke and Soffa Industries

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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