Kulicke & Soffa Industries rises as Craig-Hallum upgrades to "buy" on upbeat results

Kulicke And Soffa Industries

17/11/2023 14:12

** Shares of semiconductor assembling solutions co Kulicke
and Soffa Industries  KLIC.O  rise $2.6% to $50.25 premarket
    ** Craig-Hallum upgrades KLIC to "buy" from "hold", raises
price target to $60 from $55
    ** The new price target represents a 22.5% upside to the
stock's last close $48.98
    ** Brokerage expects co's semiconductor unit growth recovery
to begin next year, with advanced technology solutions driving
multi-year growth expectations
    ** KLIC reported Q4 revenue of $202.3 mln vs. estimate of
$200.2 mln, Q4 adj. EPS of 51 cents ahead of estimates of 43
cents - LSEG data
    ** Two of five brokerages rate the stock "buy" and three
"hold"; their median PT is $58
    ** Up to Thursday's close, stock had risen 10.7% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))