Kulicke & Soffa Sets New 12-Month High on Better-Than-Expected Earnings (KLIC)
Kulicke & Soffa (NASDAQ:KLIC) reached a new 52-week high on Tuesday following a stronger than expected earnings report, Stock Ratings News reports. The company traded as high as $13.98 and last traded at $13.76, with a volume of 1,458,413 shares traded. The stock had previously closed at $12.63.
The company reported $0.12 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.01. The company had revenue of $114.20 million for the quarter, compared to the consensus estimate of $115.00 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis.
Separately, analysts at B. Riley initiated coverage on shares of Kulicke & Soffa in a research note on Wednesday, February 26th. They set a “buy” rating and a $14.50 price target on the stock.
In other Kulicke & Soffa news, CEO Bruno Guilmart sold 8,300 shares of the stock on the open market in a transaction dated Monday, April 21st. The shares were sold at an average price of $12.25, for a total value of $101,675.00. Following the transaction, the chief executive officer now directly owns 237,540 shares in the company, valued at approximately $2,909,865. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
The stock’s 50-day moving average is $12.37 and its 200-day moving average is $12.29. The company has a market cap of $1.054 billion and a price-to-earnings ratio of 18.02.
Kulicke and Soffa Industries, Inc (NASDAQ:KLIC) designs, manufactures and sells capital equipment and expendable tools used to assemble semiconductor devices, including integrated circuits (IC), high and low powered discrete devices, light-emitting diodes (LEDs), and power modules.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.