TD Cowen Raises Kulicke and Soffa Industries (NASDAQ:KLIC) Price Target to $50.00

Kulicke and Soffa Industries (NASDAQ:KLIC) had its price objective upped by equities research analysts at TD Cowen from $45.00 to $50.00 in a research report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a “hold” rating on the semiconductor company’s stock. TD Cowen’s price target would suggest a potential upside of 9.63% from the stock’s current price.

Several other research analysts also recently commented on KLIC. Craig Hallum reduced their price objective on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC upgraded 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. Finally, StockNews.com downgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.50.

Kulicke and Soffa Industries Stock Performance

NASDAQ:KLIC opened at $45.61 on Friday. The stock has a market capitalization of $2.49 billion, a PE ratio of -37.08 and a beta of 1.38. The company has a fifty day moving average of $44.00 and a two-hundred day moving average of $45.36. Kulicke and Soffa Industries has a fifty-two week low of $38.20 and a fifty-two week high of $56.71.

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

Institutional Trading of Kulicke and Soffa Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in Kulicke and Soffa Industries during the 1st quarter worth approximately $29,000. Advisors Asset Management Inc. increased its position 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 acquiring an additional 414 shares during the period. Signaturefd LLC raised its stake 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 acquiring an additional 543 shares in the last quarter. Blue Trust Inc. grew its stake in Kulicke and Soffa Industries by 17,075.0% during the 2nd quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 1,366 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Kulicke and Soffa Industries in the 2nd quarter valued at about $73,000. 98.22% of the stock is currently owned by hedge funds and other institutional investors.

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.