Kulicke & Soffa soars on strong FQ3 guidance

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

Though its FQ2 results were ho-hum, Kulicke & Soffa (KLIC +9.8%) is guiding for FQ3 revenue of $165M-$175M, well above a $154.4M consensus.

Mainstay ball bonder equipment sales rose 80.9% Q/Q, and copper-capable hardware accounted for 69.7% of them. Wedge bonder equipment sales fell 32.7% Q/Q. Gross margin rose 200 bps Q/Q and 450 bps Y/Y to 50.5%.

The chip equipment maker's shares are making new 52-week highs. They jumped last week after activist investor Lemelson Capital disclosed a position and called for a major buyback.

Kulicke ended FQ2 with $596.3M in cash/investments (equal to 55% of its current market cap), and no debt.

FQ2 results, PR

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