Insider Selling: Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) SVP Sells $564,082.32 in Stock

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) SVP Robert Nestor Chylak sold 11,391 shares of Kulicke and Soffa Industries stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $49.52, for a total value of $564,082.32. Following the completion of the sale, the senior vice president now owns 20,838 shares of the company’s stock, valued at $1,031,897.76. The trade was a 35.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Kulicke and Soffa Industries Price Performance

Shares of Kulicke and Soffa Industries stock opened at $49.43 on Friday. Kulicke and Soffa Industries, Inc. has a 1-year low of $38.20 and a 1-year high of $56.71. The company’s fifty day simple moving average is $46.77 and its 200-day simple moving average is $45.52. The stock has a market capitalization of $2.66 billion, a PE ratio of -40.19 and a beta of 1.38.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its earnings results on Wednesday, November 13th. The semiconductor company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). The company had revenue of $181.30 million for the quarter, compared to analysts’ expectations 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%. Kulicke and Soffa Industries’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 earnings per share. As a group, research analysts anticipate that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current year.

Kulicke and Soffa Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Thursday, December 19th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 1.66%. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio is currently -66.67%.

Kulicke and Soffa Industries declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 13th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kulicke and Soffa Industries by 1.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,735 shares of the semiconductor company’s stock valued at $891,000 after buying an additional 250 shares in the last quarter. Creative Planning lifted its position in shares of Kulicke and Soffa Industries by 3.4% in the second quarter. Creative Planning now owns 11,384 shares of the semiconductor company’s stock valued at $560,000 after acquiring an additional 372 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Kulicke and Soffa Industries by 137.5% in the third quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 414 shares during the period. Meritage Portfolio Management grew its position in shares of Kulicke and Soffa Industries by 9.4% during the third quarter. Meritage Portfolio Management now owns 6,054 shares of the semiconductor company’s stock worth $273,000 after purchasing an additional 519 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Kulicke and Soffa Industries by 226.3% during the 3rd 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. 98.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on KLIC shares. StockNews.com lowered shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. DA Davidson decreased their target price on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, November 15th. TD Cowen increased their price target on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday, November 15th. Finally, Needham & Company LLC raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $52.40.

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.