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Needham Maintains Buy on Kulicke & Soffa Indus, Raises Price Target to $115
Needham analyst Charles Shi maintains Kulicke & Soffa Indus (NASDAQ:KLIC) with a Buy and raises the price target from $105 to $115.
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Why Kulicke & Soffa Stock Slumped by Nearly 10% Today
Kulicke & Soffa Industries stock fell nearly 10% after announcing Raj Talluri as its new permanent CEO, replacing interim CEO Lester Wong. The decline appears driven by concerns over the lengthy succession process in a fast-moving industry and profit-taking following strong Q3 earnings. Analyst expects the stock to rebound.
Shares of semiconductor and chip companies are trading lower amid rising oil prices and bond yields, prompting inflation concerns. Also, declining memory chip companies may weigh on the broader industry.
Kulicke and Soffa Industries Names Dr. Raj Talluri As President And Chief Executive Officer, Effective September 1, 2026