B. Riley Reiterates a Buy Rating on Kulicke & Soffa

By Carrie Williams

B. Riley analyst Craig Ellis reiterated a Buy rating on Kulicke & Soffa (NASDAQ: KLIC) today and set a price target of $31. The company’s shares opened today at $20.29.

According to TipRanks.com, Ellis is a top 100 analyst with an average return of 31.2% and a 77.1% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Rudolph Technologies.

Kulicke & Soffa has an analyst consensus of Hold.

Based on Kulicke & Soffa’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $200 million and quarterly net profit of $29.04 million. In comparison, last year the company earned revenue of $216 million and had a net profit of $31.79 million.

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Kulicke & Soffa Industries, Inc. provides semiconductor packaging and electronic assembly solutions for the automotive, consumer, communications, computing and industrial segments. It operates through the following segments: Equipment and Expendable Tools.