Short Interest in Kulicke and Soffa Industries Inc. (NASDAQ:KLIC) Grows By 21.1%

Kulicke and Soffa Industries Inc. (NASDAQ:KLIC) saw a large growth in short interest in November. As of November 29th, there was short interest totalling 2,700,000 shares, a growth of 21.1% from the November 14th total of 2,230,000 shares. Based on an average daily trading volume, of 379,800 shares, the days-to-cover ratio is presently 7.1 days. Approximately 4.4% of the shares of the stock are sold short.

Several brokerages have recently commented on KLIC. Cowen boosted their target price on shares of Kulicke and Soffa Industries from $23.00 to $25.00 and gave the company a “market perform” rating in a research report on Friday, November 15th. BidaskClub upgraded shares of Kulicke and Soffa Industries from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Zacks Investment Research cut shares of Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. DA Davidson upgraded shares of Kulicke and Soffa Industries from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Thursday, November 21st. Finally, B. Riley reiterated a “buy” rating and set a $32.00 price objective on shares of Kulicke and Soffa Industries in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Kulicke and Soffa Industries has an average rating of “Hold” and an average target price of $29.00.

In other news, Director Brian R. Bachman sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the transaction, the director now directly owns 23,293 shares in the company, valued at approximately $582,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in KLIC. First Trust Advisors LP bought a new stake in shares of Kulicke and Soffa Industries in the 1st quarter valued at $350,000. Commonwealth Equity Services LLC lifted its position in Kulicke and Soffa Industries by 20.9% during the second quarter. Commonwealth Equity Services LLC now owns 26,778 shares of the semiconductor company’s stock valued at $603,000 after purchasing an additional 4,625 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Kulicke and Soffa Industries by 11.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 26,270 shares of the semiconductor company’s stock valued at $592,000 after purchasing an additional 2,620 shares during the last quarter. Balter Liquid Alternatives LLC bought a new stake in Kulicke and Soffa Industries during the second quarter valued at approximately $641,000. Finally, Wedge Capital Management L L P NC bought a new stake in Kulicke and Soffa Industries during the second quarter valued at approximately $326,000. Hedge funds and other institutional investors own 90.13% of the company’s stock.

KLIC stock traded up $0.62 during trading on Thursday, reaching $26.15. 15,567 shares of the company were exchanged, compared to its average volume of 436,702. The company has a 50-day moving average of $24.54 and a two-hundred day moving average of $22.57. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 56.85 and a beta of 1.38. Kulicke and Soffa Industries has a twelve month low of $17.79 and a twelve month high of $26.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.12 and a quick ratio of 4.61.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings data on Thursday, November 14th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. The business had revenue of $139.80 million during the quarter, compared to analysts’ expectations of $140.11 million. Kulicke and Soffa Industries had a net margin of 2.16% and a return on equity of 3.72%. The firm’s quarterly revenue was down 24.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. On average, analysts forecast that Kulicke and Soffa Industries will post 1.28 EPS for the current year.

Kulicke and Soffa Industries Company Profile

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools to assemble semiconductor devices. It operates in two segments, Capital Equipment, and Aftermarket Products and Services (APS). The Capital Equipment segment manufactures and sells a line of ball bonders, wedge bonders, advanced packaging, and electronic assembly solutions.

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