Summit Global Investments Buys Shares of 23,700 Kulicke and Soffa Industries, Inc. (KLIC)

Summit Global Investments bought a new stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,700 shares of the semiconductor company’s stock, valued at approximately $451,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in Kulicke and Soffa Industries by 0.3% during the second quarter. Arizona State Retirement System now owns 37,063 shares of the semiconductor company’s stock valued at $705,000 after buying an additional 100 shares in the last quarter. Geneva Advisors LLC boosted its stake in Kulicke and Soffa Industries by 0.4% during the second quarter. Geneva Advisors LLC now owns 28,457 shares of the semiconductor company’s stock valued at $541,000 after buying an additional 112 shares in the last quarter. Aperio Group LLC boosted its stake in Kulicke and Soffa Industries by 0.9% during the second quarter. Aperio Group LLC now owns 20,973 shares of the semiconductor company’s stock valued at $399,000 after buying an additional 180 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Kulicke and Soffa Industries by 1.4% during the second quarter. BNP Paribas Arbitrage SA now owns 15,008 shares of the semiconductor company’s stock valued at $285,000 after buying an additional 207 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Kulicke and Soffa Industries by 1.1% during the first quarter. Municipal Employees Retirement System of Michigan now owns 22,550 shares of the semiconductor company’s stock valued at $458,000 after buying an additional 250 shares in the last quarter. 84.91% of the stock is owned by institutional investors and hedge funds.

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Several research analysts recently weighed in on KLIC shares. B. Riley reaffirmed a “buy” rating and set a $31.00 target price on shares of Kulicke and Soffa Industries in a research note on Wednesday, August 2nd. BidaskClub cut Kulicke and Soffa Industries from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. ValuEngine raised Kulicke and Soffa Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut Kulicke and Soffa Industries from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $26.50.

Kulicke and Soffa Industries, Inc. (NASDAQ KLIC) opened at 19.12 on Friday. The company has a market cap of $1.36 billion, a PE ratio of 15.89 and a beta of 1.27. The company’s 50-day moving average price is $19.33 and its 200 day moving average price is $20.55. Kulicke and Soffa Industries, Inc. has a 52 week low of $11.85 and a 52 week high of $23.00.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.21. The company had revenue of $243.90 million during the quarter, compared to the consensus estimate of $245.02 million. Kulicke and Soffa Industries had a return on equity of 11.88% and a net margin of 11.61%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, analysts anticipate that Kulicke and Soffa Industries, Inc. will post $1.40 EPS for the current year.

Kulicke and Soffa Industries announced that its board has authorized a share repurchase program on Tuesday, August 15th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the semiconductor company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Kulicke and Soffa Industries Company Profile

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.

Institutional Ownership by Quarter for Kulicke and Soffa Industries (NASDAQ:KLIC)

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