B. Riley Comments on Kulicke and Soffa Industries, Inc.’s FY2024 Earnings (NASDAQ:KLIC)

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) – Analysts at B. Riley reduced their FY2024 earnings estimates for shares of Kulicke and Soffa Industries in a research note issued to investors on Thursday, May 2nd. B. Riley analyst C. Ellis now forecasts that the semiconductor company will earn $0.06 per share for the year, down from their prior estimate of $1.55. B. Riley has a “Neutral” rating and a $47.00 price target on the stock. The consensus estimate for Kulicke and Soffa Industries’ current full-year earnings is $1.20 per share. B. Riley also issued estimates for Kulicke and Soffa Industries’ Q4 2024 earnings at $0.41 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.33 EPS and FY2025 earnings at $1.69 EPS.

KLIC has been the topic of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Kulicke and Soffa Industries in a research note on Friday. TheStreet cut shares of Kulicke and Soffa Industries from a “b-” rating to a “c” rating in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $59.00.

Kulicke and Soffa Industries Stock Performance

KLIC opened at $47.00 on Monday. The business’s 50-day simple moving average is $48.18 and its 200 day simple moving average is $49.25. The firm has a market capitalization of $2.65 billion, a PE ratio of -39.50 and a beta of 1.48. Kulicke and Soffa Industries has a 52-week low of $40.20 and a 52-week high of $60.20.

Kulicke and Soffa Industries (NASDAQ:KLIC) last posted its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($1.19). The firm had revenue of $172.10 million for the quarter, compared to the consensus estimate of $170.20 million. Kulicke and Soffa Industries had a positive return on equity of 2.22% and a negative net margin of 8.94%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share.

Kulicke and Soffa Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Monday, March 25th were given a $0.20 dividend. The ex-dividend date was Friday, March 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.70%. Kulicke and Soffa Industries’s payout ratio is presently -67.23%.

Insider Activity at Kulicke and Soffa Industries

In other Kulicke and Soffa Industries news, SVP Robert Nestor Chylak sold 8,771 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $48.97, for a total transaction of $429,515.87. Following the transaction, the senior vice president now owns 24,240 shares in the company, valued at approximately $1,187,032.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Kulicke and Soffa Industries

Several large investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. increased its stake in Kulicke and Soffa Industries by 340.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 443 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Kulicke and Soffa Industries in the 4th quarter valued at $33,000. Blue Trust Inc. increased its stake in shares of Kulicke and Soffa Industries by 224.6% in the 4th quarter. Blue Trust Inc. now owns 672 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 465 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Kulicke and Soffa Industries in the 4th quarter valued at $40,000. Finally, CWM LLC increased its stake in shares of Kulicke and Soffa Industries by 120.7% in the 4th quarter. CWM LLC now owns 779 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 426 shares during the last quarter. 98.22% of the stock is owned by institutional investors and hedge funds.

About Kulicke and Soffa Industries

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services (APS). The company offers ball bonding equipment, wafer level bonding equipment, wedge bonding equipment; and advanced display, die-attach, and thermocompression systems and solutions, as well as tools, spares and services for equipment.