Kulicke and Soffa Industries’ (KLIC) “Buy” Rating Reiterated at B. Riley

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)‘s stock had its “buy” rating reissued by analysts at B. Riley in a research note issued on Monday. They presently have a $31.00 target price on the semiconductor company’s stock. B. Riley’s price target would indicate a potential upside of 31.30% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. BidaskClub downgraded Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Zacks Investment Research downgraded Kulicke and Soffa Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, ValuEngine upgraded Kulicke and Soffa Industries from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $26.50.

Kulicke and Soffa Industries (NASDAQ:KLIC) traded up $0.09 during trading hours on Monday, reaching $23.61. The company had a trading volume of 261,500 shares, compared to its average volume of 517,339. The stock has a market cap of $1,680.00, a P/E ratio of 16.99, a PEG ratio of 1.10 and a beta of 1.34. The company has a quick ratio of 4.20, a current ratio of 4.83 and a debt-to-equity ratio of 0.02. Kulicke and Soffa Industries has a 12-month low of $13.55 and a 12-month high of $24.56.

Kulicke and Soffa Industries declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 15th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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Several hedge funds have recently made changes to their positions in KLIC. BlackRock Inc. grew its stake in shares of Kulicke and Soffa Industries by 909,858.7% in the 1st quarter. BlackRock Inc. now owns 5,532,549 shares of the semiconductor company’s stock valued at $112,421,000 after purchasing an additional 5,531,941 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Kulicke and Soffa Industries by 526.1% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,230,688 shares of the semiconductor company’s stock valued at $23,409,000 after buying an additional 1,034,116 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Kulicke and Soffa Industries in the second quarter valued at approximately $19,020,000. Royce & Associates LP boosted its stake in shares of Kulicke and Soffa Industries by 40.3% in the second quarter. Royce & Associates LP now owns 2,507,921 shares of the semiconductor company’s stock valued at $47,701,000 after buying an additional 721,000 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Kulicke and Soffa Industries by 28.4% in the second quarter. Acadian Asset Management LLC now owns 1,396,391 shares of the semiconductor company’s stock valued at $26,560,000 after buying an additional 308,501 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

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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