Kulicke & Soffa price target lowered to $37 from $53 at Needham

Needham lowered the firm’s price target on Kulicke & Soffa to $37 from $53 and keeps a Buy rating on the shares. The company’s Q2 results missed guidance and the management guided Q3 below the Street, though the company attributes the shortfall to a further decline in auto/industrial demand, the analyst tells investors in a research note. General semi demand, specifically in Taiwan and China, is not ticking up as previously expected, with customers in a “wait-and-see” mode amid the tariff uncertainties, the firm added.