Fifth Third Bancorp Reduces Position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Fifth Third Bancorp decreased its holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 28.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 608 shares of the semiconductor company’s stock after selling 236 shares during the period. Fifth Third Bancorp’s holdings in Kulicke and Soffa Industries were worth $28,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KLIC. Copeland Capital Management LLC boosted its position 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 valued at $66,319,000 after acquiring an additional 264,638 shares during the last quarter. Royce & Associates LP raised its position in Kulicke and Soffa Industries by 20.3% in the third quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company’s stock valued at $50,154,000 after purchasing an additional 187,673 shares during the period. Pinpoint Asset Management Ltd purchased a new stake in Kulicke and Soffa Industries during the third quarter worth about $4,062,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Kulicke and Soffa Industries by 105.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,079 shares of the semiconductor company’s stock worth $6,593,000 after buying an additional 75,043 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Kulicke and Soffa Industries by 418.5% in the second quarter. Millennium Management LLC now owns 69,211 shares of the semiconductor company’s stock valued at $3,404,000 after purchasing an additional 55,862 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, Director Chin Hu Lim sold 30,000 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $48.11, for a total transaction of $1,443,300.00. Following the completion of the sale, the director now owns 59,701 shares of the company’s stock, valued at approximately $2,872,215.11. The trade was a 33.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Robert Nestor Chylak sold 11,391 shares of the business’s 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 221,121 shares of company stock worth $10,527,843. Corporate insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on KLIC. Needham & Company LLC upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Friday, November 15th. TD Cowen lifted their price target on shares of Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Friday, November 15th. StockNews.com upgraded Kulicke and Soffa Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, DA Davidson lowered their price objective 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. Three equities research analysts have rated the stock with 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 “Moderate Buy” and a consensus price target of $52.40.

Kulicke and Soffa Industries Stock Up 0.0 %

Shares of NASDAQ KLIC opened at $44.35 on Monday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of -36.06 and a beta of 1.37. Kulicke and Soffa Industries, Inc. has a 52 week low of $38.20 and a 52 week high of $53.71. The firm has a 50-day moving average price of $47.43 and a 200 day moving average price of $45.31.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted 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 firm 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 period last year, the company posted $0.51 EPS. Equities research analysts expect that Kulicke and Soffa Industries, Inc. will post 1.29 EPS for the current fiscal year.

Kulicke and Soffa Industries announced that its board has initiated a stock repurchase program on Wednesday, November 13th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the semiconductor company to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Kulicke and Soffa Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th were given a $0.205 dividend. This is an increase from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Thursday, December 19th. Kulicke and Soffa Industries’s dividend payout ratio is currently -66.67%.

Kulicke and Soffa Industries Company 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.