Craig-Hallum lowered the firm’s price target on Kulicke & Soffa (KLIC) to $55 from $60 and keeps a Buy rating on the shares. The company’s profitability was notably impacted in Q2 by an impairment related to the customer cancellation of Project W, the firm believes with Apple (AAPL), the analyst tells investors in a research note. The company continues to be impacted by a soft general semiconductor market, particularly in auto and industrial, and weak LED demand, Craig-Hallum says.
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Read More on KLIC:
- Kulicke & Soffa Industries Braces for Impact: Project W Cancellation Triggers Financial Turbulence and Operational Hurdles
- Kulicke & Soffa sees Q3 non-GAAP Q3 EPS 27c-33c, consensus 49c
- Kulicke & Soffa reports Q2 non-GAAP EPS(95c) , consensus 24c
- KLIC Upcoming Earnings Report: What to Expect?
- Kulicke & Soffa Announces Dividend, Showcases Financial Confidence
