Fly News Breaks for November 21, 2019
Nov 21, 2019 | 07:51 EDT
DA Davidson analyst Thomas Diffely upgraded Kulicke & Soffa to Buy from Neutral with a price target of $30, up from $24. The analyst notes that the company is now past its "trough quarter" and expects its "upcoming cyclical drivers" to generate revenue growth as "pockets of strength in the wirebonding market" serve as initial indicators of a broader industry recovery. Diffely cites the wirebonder utilization rates rising to high 70%s, particularly in China, where those rates have now exceeded 90%, also adding that since customers tend to add capacity when utilization rates enter the 80%s, he sees a ramp in activity.
News For KLIC From the Last 2 Days
There are no results for your query KLIC