On June 12th, 2023, Renaissance Technologies LLC filed a report with the SEC stating that it reduced its holdings in Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) by 12.7% in the fourth quarter. This institutional investor now holds 396,128 shares of the semiconductor company’s stock after selling 57,829 shares during the period. The total worth of these shares is calculated to be $17,533,000 as per the recent SEC filing.
Kulicke and Soffa Industries recently announced their quarterly earnings results on May 4th. In that quarter, the firm reported earnings per share (EPS) of $0.38 which exceeded analysts’ consensus estimates of $0.26 by $0.12. It had a net profit margin of 21.19% with a return on equity of 20.08%. The firm’s revenue was estimated at $173 million for this fiscal year compared to $171 million as predicted by analysts.
Despite its most recent success, there have been some changes within Kulicke and Soffa Industries that have caught investors’ attention. Senior Vice President Nelson Munpun Wong sold 5,000 shares of the company’s stock on March 17th for a total value of $269,000 at an average price of $53.80 per share. As disclosed in a legal filing with the SEC, this move could potentially impact his ownership stake in Klicke and Soffa Industries significantly.
In addition to Mr Wong’s sale of company stocks CFO Lester A Wong also sold off shares valued at approximately $2 million on March 15th.This decision now leaves him owning only 129,746 shares valued at approximately over six million dollars.
Investors now await further decision-making changes within Klicke and Soffa Industries and how they will affect future profits following these recent insider moves. Overall, the projected EPS for the current fiscal year is $1.53 with a revenue decrease of 55% compared to last year’s quarter in parallel.
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Changes in Stockholdings of Global Semiconductor Company Kulicke and Soffa Industries
Kulicke and Soffa Industries, a global semiconductor company based in Singapore, has recently undergone some significant changes in its stockholdings. A number of hedge funds and institutional investors have bought or sold shares of the company, with Auxano Advisors LLC purchasing a new stake in the 4th quarter worth $208,000. Reports also state that Bank of Montreal Can boosted its holdings by 31.1% during the same period of time.
Mutual of America Capital Management LLC was one of the other investors buying shares in Kulicke and Soffa Industries, boosting its holdings by 16.3% during the 3rd quarter alone. Finally, Globeflex Capital L P purchases surged by 46%, bringing their total ownership to over $7 million worth of stock.
Institutional investors currently own roughly 98.95% of the company’s total stock, which is astounding when considering just how much value each share holds for investors. Today, one share rose by $0.82 to trade at $57.62 on NASDAQ: KLIC, marking yet another positive turn for Kulicke and Soffa Industries.
Additionally, the firm recently disclosed a quarterly dividend requiring shareholders to hold record as June 22nd if they wish to receive payment come July 10th; this particular dividend represents an annualized return on investment (ROI) amounting to $0.76.
Several research firms have commented on Kulicke and Soffa Industries as well as many analysts have predicted that it will continue to outperform competitors repeatedly throughout FY2023.
DA Davidson Analysts are skeptical about future performance & suggest reducing stake but cannot stress enough on how much potential this industry holds.
In conclusion, we await further decision making from investment companies whose shares would certainly continue to command seemingly endless demand due to bullish forecast & dividends earnings year after year charting back to early last decade.