Pinpoint Asset Management Ltd Takes $4.06 Million Position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Pinpoint Asset Management Ltd acquired a new stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 90,000 shares of the semiconductor company’s stock, valued at approximately $4,062,000. Kulicke and Soffa Industries comprises approximately 0.9% of Pinpoint Asset Management Ltd’s portfolio, making the stock its 17th largest holding. Pinpoint Asset Management Ltd owned 0.17% of Kulicke and Soffa Industries as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KLIC. Citigroup Inc. lifted its stake in shares of Kulicke and Soffa Industries by 37.4% during the third quarter. Citigroup Inc. now owns 150,533 shares of the semiconductor company’s stock valued at $6,794,000 after buying an additional 40,990 shares during the period. Creative Planning lifted its stake in shares of Kulicke and Soffa Industries by 127.2% during the 3rd quarter. Creative Planning now owns 25,864 shares of the semiconductor company’s stock worth $1,167,000 after purchasing an additional 14,480 shares during the period. Copeland Capital Management LLC lifted its stake in shares of Kulicke and Soffa Industries by 22.0% during the 3rd quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company’s stock worth $66,319,000 after purchasing an additional 264,638 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Kulicke and Soffa Industries by 137.5% during the third quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 414 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Kulicke and Soffa Industries by 226.3% in the third quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 543 shares during the period. Hedge funds and other institutional investors own 98.22% of the company’s stock.

Kulicke and Soffa Industries Stock Down 0.4 %

Kulicke and Soffa Industries stock opened at $50.36 on Wednesday. The firm has a fifty day moving average of $46.11 and a 200-day moving average of $45.41. Kulicke and Soffa Industries, Inc. has a 52-week low of $38.20 and a 52-week high of $56.71. The firm has a market capitalization of $2.71 billion, a P/E ratio of -40.94 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last announced its quarterly earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $181.30 million during the quarter, compared to analyst estimates of $180.03 million. Kulicke and Soffa Industries had a negative net margin of 9.77% and a negative return on equity of 0.92%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, research analysts expect that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current fiscal year.

Kulicke and Soffa Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Thursday, December 19th. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s dividend payout ratio is currently -65.04%.

Kulicke and Soffa Industries announced that its board has authorized a share repurchase program on Wednesday, November 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to buy up to 11.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KLIC shares. Craig Hallum reduced their target price on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. DA Davidson decreased their target price on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. StockNews.com lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, November 15th. Finally, TD Cowen upped their price objective on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $52.40.

Insider Buying and Selling at Kulicke and Soffa Industries

In other news, EVP Chan Pin Chong sold 9,730 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.07, for a total transaction of $448,261.10. Following the completion of the sale, the executive vice president now directly owns 81,916 shares in the company, valued at $3,773,870.12. This trade represents a 10.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Lester A. Wong sold 60,000 shares of Kulicke and Soffa Industries stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $46.37, for a total value of $2,782,200.00. Following the sale, the chief financial officer now directly owns 79,636 shares in the company, valued at approximately $3,692,721.32. The trade was a 42.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,730 shares of company stock valued at $4,657,261 over the last 90 days. 0.03% of the stock is owned by corporate insiders.

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 four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services (APS). The company offers ball bonding equipment, wafer level bonding equipment, wedge bonding equipment; and advanced display, die-attach, and thermocompression systems and solutions, as well as tools, spares and services for equipment.