Craig-Hallum downgrades Kulicke & Soffa to Hold, awaits greater visibility

As previously reported, Craig-Hallum analyst Christian Schwab downgraded Kulicke & Soffa to Hold from Buy with a $55 price target. The company’s results appear to be stabilizing at current revenue levels. However, the firm does not believe shares can make a material move higher from here until there is increased visibility and conviction in a meaningful semiconductor unit recovery in 2024 and 2025. Craig-Hallum thinks shares could be range-bound until that occurs.