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Jefferies Int'l has published a research report on Kulicke & Soffa
KLIC in response to the company's softening demand, despite its reputation for having volatile sales records.
In the report, Jefferies writes "We expect KLIC to stretch 17% q/q to a $258.1m sales in FY4Q (Sep Qtr) and show a diluted EPS of $0.81 (3Q $0.65) on net income up 18% q/q to $57.9m (22% margin). We see cash reach $208.6m (OpCF of +$46.9m), up from $163m at end of 3Q10, assuming no debt pay offs. With c.$112m net cash), KLIC looks comfortably capitalised for the coming down-cycle."
Jefferies has downgraded KLIC from Buy to Hold and has lowered the price target from $10.20 to $6.
Kulicke & Soffa closed yesterday at $5.71.
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Posted In: Analyst ColorDowngradesPrice TargetAnalyst RatingsInformation Technologyjefferies internationalkulicke & SoffaSemiconductor Equipment
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