Kulicke and Soffa Industries, Inc. (KLIC) Stake Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 79.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,013 shares of the semiconductor company’s stock after buying an additional 6,183 shares during the period. State of Alaska Department of Revenue’s holdings in Kulicke and Soffa Industries were worth $266,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its stake in Kulicke and Soffa Industries by 1.1% in the first quarter. Municipal Employees Retirement System of Michigan now owns 22,550 shares of the semiconductor company’s stock valued at $458,000 after buying an additional 250 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Kulicke and Soffa Industries by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the semiconductor company’s stock valued at $587,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System increased its stake in Kulicke and Soffa Industries by 1.4% in the first quarter. Arizona State Retirement System now owns 36,963 shares of the semiconductor company’s stock valued at $751,000 after buying an additional 500 shares in the last quarter. Bank of Montreal Can increased its stake in Kulicke and Soffa Industries by 6.2% in the second quarter. Bank of Montreal Can now owns 9,143 shares of the semiconductor company’s stock valued at $173,000 after buying an additional 532 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. increased its stake in Kulicke and Soffa Industries by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 153,087 shares of the semiconductor company’s stock worth $3,111,000 after buying an additional 557 shares in the last quarter. Institutional investors and hedge funds own 98.49% of the company’s stock.

Shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) opened at 18.90 on Friday. The company has a market cap of $1.34 billion, a PE ratio of 15.71 and a beta of 1.25. Kulicke and Soffa Industries, Inc. has a one year low of $11.29 and a one year high of $23.00. The stock’s 50 day moving average price is $20.56 and its 200-day moving average price is $20.69.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.21. Kulicke and Soffa Industries had a net margin of 11.61% and a return on equity of 11.88%. The firm had revenue of $243.90 million during the quarter, compared to analysts’ expectations of $245.02 million. During the same period in the previous year, the company earned $0.45 earnings per share. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts expect that Kulicke and Soffa Industries, Inc. will post $1.40 EPS for the current year.

Kulicke and Soffa Industries announced that its Board of Directors has approved a share buyback plan on Tuesday, August 15th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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A number of analysts recently issued reports on KLIC shares. B. Riley reaffirmed a “buy” rating and issued a $31.00 target price on shares of Kulicke and Soffa Industries in a research report on Wednesday, August 2nd. BidaskClub downgraded Kulicke and Soffa Industries from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research downgraded Kulicke and Soffa Industries from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Kulicke and Soffa Industries presently has an average rating of “Hold” and an average price target of $28.50.

About Kulicke and Soffa Industries

Kulicke and Soffa Industries, Inc designs, manufactures and sells capital equipment and expendable tools, as well as services, maintains, repairs and upgrades equipment, all used to assemble semiconductor devices. The Company supplies a range of bonding equipment. The Company operates through two segments: Equipment and Expendable Tools.

Institutional Ownership by Quarter for Kulicke and Soffa Industries (NASDAQ:KLIC)

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