DA Davidson analyst Thomas Diffely lowered the firm’s price target on Kulicke & Soffa to $65 from $70 but keeps a Buy rating on the shares. The company’s Q4 earnings beat estimates but its guidance was “weak” partially due to seasonality, the analyst tells investors in a research note. The firm adds however that the markets have likely bottomed, and it expects activity to pick up in the second half of FY24, with new product ramps in advanced packaging and display that should meaningfully contribute to growth and boost margins for Kulicke & Soffa.
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Read More on KLIC:
- Kulicke & Soffa upgraded to Buy from Hold at Craig-Hallum
- Kulicke & Soffa receives orders for Thermocompression Bonding solutions
- Kulicke & Soffa raises quarterly dividend to 20c from 19c per share
- Kulicke & Soffa sees Q1 adjusted EPS 25c +/- 10%, consensus 38c
- Kulicke & Soffa reports Q4 adjusted EPS 51c, consensus 43c
