Needham & Company Starts Kulicke and Soffa Industries (KLIC) at Buy

Needham & Company analyst Charles Shi initiates coverage on Kulicke and Soffa Industries (NASDAQ: KLIC) with a Buy rating and a price target of $64.00.

The analyst comments "In conjunction with today's publication of our industry report titled "Could Semi Assembly Equipment Turn Into a Secular Growth Industry?" we are initiating coverage of Kulicke & Soffa Industries with a Buy rating and a 12-month price target of $64. KLIC is the market leader in wire bonder equipment, which packages ~80% of the world's semiconductor units. The company in recent years diversified into advanced display, including mini- and micro-LEDs, which are supported by leading electronics OEMs. Given that Apple will soon introduce new iPad models with mini-LED displays, we anticipate multi-year demand growth for mini-LED assembly equipment and expect KLIC to benefit directly. Importantly, we believe the growth we anticipate for mini-LED will overcome a projected cyclical slowdown in KLIC's core wire bonder business in 2022."

For an analyst ratings summary and ratings history on Kulicke and Soffa Industries click here. For more ratings news on Kulicke and Soffa Industries click here.

Shares of Kulicke and Soffa Industries closed at $55.50 yesterday.

You May Also Be Interested In

• Needham Reiterates Buy Rating on Amazon.com (AMZN), Raises Estimates
• Montrose Environmental Group Announces Pricing of Public Offering of Shares
• Needham & Company reiterates Buy rating on Amazon (AMZN), raises estimates