Victory Capital Management Inc. Sells 202,036 Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Victory Capital Management Inc. cut its holdings in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,543,753 shares of the semiconductor company’s stock after selling 202,036 shares during the quarter. Victory Capital Management Inc. owned approximately 4.74% of Kulicke and Soffa Industries worth $118,692,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of KLIC. Advisors Asset Management Inc. raised its holdings in 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 valued at $32,000 after acquiring an additional 414 shares during the period. GAMMA Investing LLC increased its holdings in shares of Kulicke and Soffa Industries by 61.0% in the fourth quarter. GAMMA Investing LLC now owns 1,021 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 387 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Kulicke and Soffa Industries in the third quarter worth about $53,000. Smartleaf Asset Management LLC increased its holdings in shares of Kulicke and Soffa Industries by 397.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,149 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 918 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Kulicke and Soffa Industries by 93.2% in the fourth quarter. KBC Group NV now owns 2,898 shares of the semiconductor company’s stock worth $135,000 after purchasing an additional 1,398 shares during the last quarter. 98.22% of the stock is owned by institutional investors.

Kulicke and Soffa Industries Trading Up 2.7 %

KLIC opened at $37.52 on Thursday. The firm has a market cap of $2.00 billion, a P/E ratio of 312.67 and a beta of 1.36. Kulicke and Soffa Industries, Inc. has a 12 month low of $36.13 and a 12 month high of $53.71. The stock has a 50-day moving average of $43.76 and a 200 day moving average of $44.72.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). Kulicke and Soffa Industries had a negative return on equity of 1.26% and a net margin of 0.48%. On average, research analysts forecast that Kulicke and Soffa Industries, Inc. will post 0.93 earnings per share for the current fiscal year.

Kulicke and Soffa Industries announced that its board has authorized a stock buyback plan 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 plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, SVP Robert Nestor Chylak sold 11,391 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $49.52, for a total transaction of $564,082.32. Following the completion of the transaction, the senior vice president now owns 20,838 shares in the company, valued at $1,031,897.76. The trade was a 35.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Chin Hu Lim sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $48.11, for a total value of $1,443,300.00. Following the transaction, the director now owns 59,701 shares of the company’s stock, valued at $2,872,215.11. This trade represents a 33.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KLIC. StockNews.com raised Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 target price on shares of Kulicke and Soffa Industries in a report on Thursday, February 6th. DA Davidson reduced their target price on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, TD Cowen lifted their target price 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.00.

Kulicke and Soffa Industries Profile

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.