Kulicke & Soffa higher on bullish B. Riley note

|About: Kulicke and Soffa Industrie... (KLIC)|By:, SA News Editor

B. Riley (Buy, $16.50 PT) is a fan of Kulicke & Soffa's (KLIC +2.9%) valuation, and thinks earnings growth, capital returns, and advanced chip packaging improvements can act as catalysts.

Shares are near their 52-week high of $14.85. They took off in April due to Kulicke's strong FQ3 guidance, and prior to that on activist investor Lemelson Capital's call for a massive buyback.

Kulicke had $596.3M in cash/investments at the end of FQ2 (compares with a current market cap of $1.1B), and no debt.

This was corrected on 06/04/2014 at 10:47 AM. The post previously stated B. Riley's price target was $18.50, rather than $16.50.