Jennison Associates LLC Takes Position in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)

Jennison Associates LLC bought a new stake in shares of Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) during the 3rd quarter, Holdings Channel reports. The fund bought 18,236 shares of the semiconductor company’s stock, valued at approximately $1,063,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Kulicke and Soffa Industries by 40.3% during the second quarter. BlackRock Inc. now owns 9,426,286 shares of the semiconductor company’s stock valued at $576,889,000 after buying an additional 2,709,103 shares during the period. Capital International Investors grew its stake in Kulicke and Soffa Industries by 178.1% in the second quarter. Capital International Investors now owns 4,870,110 shares of the semiconductor company’s stock worth $298,051,000 after purchasing an additional 3,119,047 shares during the period. Vanguard Group Inc. grew its stake in Kulicke and Soffa Industries by 19.3% in the second quarter. Vanguard Group Inc. now owns 2,812,692 shares of the semiconductor company’s stock worth $172,136,000 after purchasing an additional 455,995 shares during the period. State Street Corp grew its stake in Kulicke and Soffa Industries by 108.5% in the second quarter. State Street Corp now owns 2,024,923 shares of the semiconductor company’s stock worth $124,089,000 after purchasing an additional 1,053,961 shares during the period. Finally, Geode Capital Management LLC grew its stake in Kulicke and Soffa Industries by 82.3% in the second quarter. Geode Capital Management LLC now owns 1,080,345 shares of the semiconductor company’s stock worth $66,117,000 after purchasing an additional 487,605 shares during the period. 90.74% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on KLIC shares. B. Riley upped their price target on Kulicke and Soffa Industries from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, September 17th. Zacks Investment Research raised Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Wednesday, November 3rd. DA Davidson increased their target price on Kulicke and Soffa Industries from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 24th. Finally, Needham & Company LLC increased their target price on Kulicke and Soffa Industries from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, September 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Kulicke and Soffa Industries currently has a consensus rating of “Buy” and an average price target of $82.40.

In related news, EVP Chan Pin Chong sold 25,384 shares of the business’s stock in a transaction on Tuesday, December 7th. The stock was sold at an average price of $62.49, for a total transaction of $1,586,246.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Lester A. Wong sold 30,000 shares of the business’s stock in a transaction on Friday, December 10th. The stock was sold at an average price of $67.83, for a total value of $2,034,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,784 shares of company stock valued at $6,988,982. 2.20% of the stock is currently owned by corporate insiders.

NASDAQ:KLIC opened at $60.56 on Friday. Kulicke and Soffa Industries, Inc. has a 12-month low of $34.79 and a 12-month high of $75.29. The stock has a 50-day moving average price of $59.36 and a 200 day moving average price of $59.90. The stock has a market capitalization of $3.78 billion, a P/E ratio of 10.46 and a beta of 1.24.

Kulicke and Soffa Industries (NASDAQ:KLIC) last released its quarterly earnings results on Wednesday, November 17th. The semiconductor company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.04. The business had revenue of $485.33 million during the quarter, compared to analysts’ expectations of $485.00 million. Kulicke and Soffa Industries had a return on equity of 41.70% and a net margin of 24.19%. During the same quarter last year, the business posted $0.29 EPS. Research analysts predict that Kulicke and Soffa Industries, Inc. will post 5.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 10th. Investors of record on Thursday, December 23rd were paid a dividend of $0.17 per share. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.14. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Wednesday, December 22nd. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is currently 11.74%.

Kulicke and Soffa Industries Profile

Kulicke & Soffa Industries, Inc engages in the design, manufacture, and sale of semiconductor and electronic assembly solutions. It includes integrated circuits (ICs), high and low powered discrete devices, light-emitting diodes (LEDs), and power modules. It serves global automotive, consumer, communications, computing, and industrial markets.

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

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