First Horizon Advisors Inc. Reduces Stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Posted by Defense World Staff on Feb 15th, 2023

First Horizon Advisors Inc. trimmed its holdings in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC – Get Rating) by 53.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 954 shares of the semiconductor company’s stock after selling 1,095 shares during the period. First Horizon Advisors Inc.’s holdings in Kulicke and Soffa Industries were worth $36,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in KLIC. Raymond James & Associates lifted its stake in shares of Kulicke and Soffa Industries by 12.2% during the first quarter. Raymond James & Associates now owns 21,762 shares of the semiconductor company’s stock valued at $1,219,000 after buying an additional 2,368 shares during the period. Natixis Advisors L.P. acquired a new position in Kulicke and Soffa Industries in the first quarter valued at $602,000. MetLife Investment Management LLC lifted its holdings in shares of Kulicke and Soffa Industries by 46.5% during the 1st quarter. MetLife Investment Management LLC now owns 31,834 shares of the semiconductor company’s stock worth $1,783,000 after acquiring an additional 10,110 shares during the period. Rhumbline Advisers boosted its holdings in shares of Kulicke and Soffa Industries by 7.9% in the 1st quarter. Rhumbline Advisers now owns 150,077 shares of the semiconductor company’s stock valued at $8,407,000 after purchasing an additional 10,932 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in Kulicke and Soffa Industries by 2.1% during the first quarter. Yousif Capital Management LLC now owns 59,215 shares of the semiconductor company’s stock valued at $3,317,000 after acquiring an additional 1,190 shares during the period. 98.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on KLIC. Craig Hallum boosted their price objective on Kulicke and Soffa Industries from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. DA Davidson raised their price target on Kulicke and Soffa Industries from $55.00 to $60.00 in a report on Friday, November 18th. Finally, B. Riley raised their price target on Kulicke and Soffa Industries from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Friday, February 3rd.

Kulicke and Soffa Industries Stock Up 0.1 %

NASDAQ:KLIC opened at $54.74 on Wednesday. The business’s 50-day moving average price is $49.30 and its 200 day moving average price is $45.60. Kulicke and Soffa Industries, Inc. has a 52-week low of $35.95 and a 52-week high of $62.16. The firm has a market cap of $3.10 billion, a P/E ratio of 10.53 and a beta of 1.39.

Kulicke and Soffa Industries (NASDAQ:KLIC – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The semiconductor company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.13. Kulicke and Soffa Industries had a net margin of 25.80% and a return on equity of 28.72%. The company had revenue of $176.20 million for the quarter, compared to analysts’ expectations of $176.49 million. During the same quarter in the previous year, the company posted $2.19 EPS. The business’s revenue was down 61.8% compared to the same quarter last year. Sell-side analysts expect that Kulicke and Soffa Industries, Inc. will post 1.85 EPS for the current year.

Insider Buying and Selling at Kulicke and Soffa Industries

In related news, SVP Robert Nestor Chylak sold 3,178 shares of Kulicke and Soffa Industries stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $48.98, for a total value of $155,658.44. Following the transaction, the senior vice president now directly owns 23,693 shares in the company, valued at approximately $1,160,483.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Chan Pin Chong sold 42,700 shares of the business’s stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $45.97, for a total transaction of $1,962,919.00. Following the sale, the executive vice president now owns 61,151 shares in the company, valued at $2,811,111.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert Nestor Chylak sold 3,178 shares of the firm’s stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $48.98, for a total transaction of $155,658.44. Following the completion of the transaction, the senior vice president now directly owns 23,693 shares of the company’s stock, valued at approximately $1,160,483.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,749 shares of company stock valued at $3,346,757. Corporate insiders own 3.10% of the company’s stock.

About Kulicke and Soffa Industries

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Kulicke & Soffa Industries, Inc engages in the design, manufacture, and sale of capital equipment and tools used to assemble semiconductor devices, including integrated circuits (“ICs“), high and low powered discrete devices, light-emitting diodes (“LEDs“), and power modules. The firm operates through the Capital Equipment, and Aftermarket Products and Services (APS) segments.