Kulicke and Soffa Industries (NASDAQ:KLIC) Releases Q4 Earnings Guidance

Posted by Defense World Staff on Aug 10th, 2023

Kulicke and Soffa Industries (NASDAQ:KLIC – Get Free Report) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.38-0.46 for the period, compared to the consensus earnings per share estimate of $0.44. The company issued revenue guidance of $180-220 million, compared to the consensus revenue estimate of $209.73 million. Kulicke and Soffa Industries also updated its Q4 2023 guidance to $0.38-$0.46 EPS.

Analysts Set New Price Targets

Several research firms have weighed in on KLIC. StockNews.com began coverage on shares of Kulicke and Soffa Industries in a report on Thursday, May 18th. They set a hold rating on the stock. B. Riley upped their price objective on shares of Kulicke and Soffa Industries from $45.00 to $50.00 in a report on Monday, July 17th. Finally, DA Davidson upped their price objective on shares of Kulicke and Soffa Industries from $60.00 to $70.00 in a report on Wednesday, June 21st.

Read Our Latest Report on KLIC

Kulicke and Soffa Industries Price Performance

Shares of KLIC stock opened at $54.41 on Thursday. The firm has a 50-day moving average of $57.12 and a 200-day moving average of $53.28. The company has a market cap of $3.08 billion, a P/E ratio of 15.11 and a beta of 1.39. Kulicke and Soffa Industries has a one year low of $35.95 and a one year high of $60.20.

Kulicke and Soffa Industries (NASDAQ:KLIC – Get Free Report) last announced its earnings results on Wednesday, August 9th. The semiconductor company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.32 by $0.23. The company had revenue of $190.92 million during the quarter, compared to the consensus estimate of $190.08 million. Kulicke and Soffa Industries had a net margin of 21.19% and a return on equity of 20.08%. The firm’s revenue for the quarter was down 48.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 earnings per share. As a group, research analysts expect that Kulicke and Soffa Industries will post 1.53 earnings per share for the current fiscal year.

Kulicke and Soffa Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 10th. Investors of record on Thursday, June 22nd were given a dividend of $0.19 per share. The ex-dividend date was Wednesday, June 21st. This represents a $0.76 annualized dividend and a yield of 1.40%. Kulicke and Soffa Industries’s payout ratio is currently 21.11%.

Insider Activity at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, EVP Chan Pin Chong sold 10,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the executive vice president now owns 51,151 shares in the company, valued at $3,069,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Nelson Munpun Wong sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the sale, the senior vice president now directly owns 180,076 shares of the company’s stock, valued at $10,804,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Chan Pin Chong sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the sale, the executive vice president now directly owns 51,151 shares in the company, valued at $3,069,060. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,000 shares of company stock worth $1,474,600. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Kulicke and Soffa Industries by 53.2% during the first quarter. JPMorgan Chase & Co. now owns 482,645 shares of the semiconductor company’s stock worth $25,431,000 after acquiring an additional 167,669 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Kulicke and Soffa Industries in the first quarter worth approximately $225,000. Penn Capital Management Company LLC grew its holdings in shares of Kulicke and Soffa Industries by 2.7% in the first quarter. Penn Capital Management Company LLC now owns 297,192 shares of the semiconductor company’s stock worth $15,718,000 after purchasing an additional 7,817 shares during the last quarter. State Street Corp grew its holdings in shares of Kulicke and Soffa Industries by 1.8% in the first quarter. State Street Corp now owns 1,998,003 shares of the semiconductor company’s stock worth $105,652,000 after purchasing an additional 35,265 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Kulicke and Soffa Industries by 345.4% in the first quarter. First Trust Advisors LP now owns 89,058 shares of the semiconductor company’s stock worth $4,692,000 after purchasing an additional 69,062 shares during the last quarter. 99.73% of the stock is owned by hedge funds and other institutional investors.

About Kulicke and Soffa Industries

(Get Free Report)

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through two segments, Capital Equipment, and Aftermarket Products and Services (APS). The company manufactures and sells advanced displays; die-transfer, flip-chip, and TCB advanced packaging products; ball bonder, die-attach, electronics assembly, lithography, wafer-level bonder, and wedge bonder products; consumables, such as capillaries, dicing blades, and wedge bonds; and auto offline programming, KNet PLUS, and new product introduction/manufacturing execution system software products.