Principal Financial Group Inc. Cuts Stake in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)


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Principal Financial Group Inc. lowered its holdings in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 72.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 472,031 shares of the semiconductor company’s stock after selling 1,226,413 shares during the quarter. Principal Financial Group Inc.’s holdings in Kulicke and Soffa Industries were worth $15,016,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KLIC. Hood River Capital Management LLC purchased a new stake in shares of Kulicke and Soffa Industries during the fourth quarter worth about $26,325,000. Morgan Stanley grew its position in shares of Kulicke and Soffa Industries by 245.7% during the fourth quarter. Morgan Stanley now owns 579,778 shares of the semiconductor company’s stock worth $18,442,000 after purchasing an additional 412,076 shares in the last quarter. Neumeier Poma Investment Counsel LLC grew its position in shares of Kulicke and Soffa Industries by 31.7% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 1,639,278 shares of the semiconductor company’s stock worth $52,145,000 after purchasing an additional 394,865 shares in the last quarter. BlackRock Inc. grew its position in shares of Kulicke and Soffa Industries by 3.4% during the fourth quarter. BlackRock Inc. now owns 6,410,783 shares of the semiconductor company’s stock worth $203,927,000 after purchasing an additional 211,541 shares in the last quarter. Finally, Tygh Capital Management Inc. purchased a new position in Kulicke and Soffa Industries during the 4th quarter valued at approximately $4,995,000. Hedge funds and other institutional investors own 82.56% of the company’s stock.

In related news, EVP Chan Pin Chong sold 10,578 shares of the firm’s stock in a transaction that occurred on Wednesday, March 17th. The stock was sold at an average price of $51.07, for a total transaction of $540,218.46. Following the completion of the sale, the executive vice president now directly owns 94,303 shares of the company’s stock, valued at approximately $4,816,054.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lester A. Wong sold 33,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 2nd. The stock was sold at an average price of $50.55, for a total value of $1,668,150.00. Following the sale, the chief financial officer now directly owns 131,256 shares of the company’s stock, valued at $6,634,990.80. The disclosure for this sale can be found here. Insiders sold a total of 46,078 shares of company stock valued at $2,345,868 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

NASDAQ:KLIC opened at $53.79 on Tuesday. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 64.81 and a beta of 1.18. Kulicke and Soffa Industries, Inc. has a 1 year low of $20.10 and a 1 year high of $56.67. The business has a 50 day simple moving average of $48.81 and a 200-day simple moving average of $36.57.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings data on Tuesday, February 2nd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.11. The business had revenue of $267.86 million during the quarter, compared to analyst estimates of $265.00 million. Kulicke and Soffa Industries had a return on equity of 7.92% and a net margin of 8.39%. On average, analysts expect that Kulicke and Soffa Industries, Inc. will post 1.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 12th. Stockholders of record on Thursday, March 25th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, March 24th. Kulicke and Soffa Industries’s payout ratio is 58.95%.

KLIC has been the subject of several research analyst reports. Zacks Investment Research cut Kulicke and Soffa Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 7th. B. Riley raised their price target on Kulicke and Soffa Industries from $38.00 to $44.00 and gave the company a “buy” rating in a report on Monday, December 14th. Finally, Craig Hallum raised their price target on Kulicke and Soffa Industries from $40.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, January 20th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $45.75.

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 ball and wedge bonders, and advanced packaging and electronic assembly solutions.

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

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