Kulicke and Soffa Industries
KLICNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $69.70 Prior regular-session close from the quote source.
- $70.94–$75.17 Regular-session low and high so far today.
- 558.0K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Nov 18 projected Projected for 2026-11-18 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $35.02–$135.80 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own KLIC if its interconnect-equipment franchise remains relevant as packaging demand recovers, but the stock only works if that recovery restores margins rather than merely rebuilding low-quality revenue.
KLIC price history
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Investment thesis
What must happen next
KLIC’s interconnect-equipment franchise remains relevant enough that customers continue allocating assembly capex to its tools when semiconductor packaging demand recovers.HoldingMateriality: High
FY2025 GAAP annual revenue was $654.1 million, showing the company still has material customer demand even after a downcycle. If this holds, depressed earnings can normalize; if it breaks, KLIC is a melting cyclical rather than a recovery compounder.
Watch: OSATs or IDMs shift incremental capex away from KLIC’s core wire-bonding and interconnect platforms toward hybrid bonding, thermo-compression bonding or other advanced-packaging tools where competitors such as BE Semiconductor Industries or ASMPT are better positioned.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 GAAP annual revenue was $654.1 million, showing the company still has material customer demand even after a downcycle.
Open source ↗KLIC’s process know-how and equipment differentiation remain strong enough to protect gross margin despite cyclical revenue pressure.StrengtheningMateriality: High
FY2025 GAAP annual gross profit was $277.9 million versus $268.8 million in FY2024, even though FY2025 revenue declined. Gross-margin resilience is what separates a valuable recovery from commodity equipment revenue that fails to create earnings.
Watch: ASMPT, BE Semiconductor Industries or lower-cost Chinese competitors force price concessions in KLIC’s core bonding-tool categories.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 GAAP annual gross profit was $277.9 million versus $268.8 million in FY2024, even though FY2025 revenue declined.
Open source ↗KLIC’s cost base can flex through the cycle, so a demand recovery should convert disproportionately into operating income rather than being absorbed by fixed costs.HoldingMateriality: Medium
FY2025 GAAP annual operating loss narrowed to $3.2 million from a $92.5 million GAAP operating loss in FY2024. The equity upside depends on normalized operating leverage; without it, revenue recovery will not restore per-share earnings power.
Watch: KLIC must increase R&D, field service or discounting materially just to defend its installed base against ASMPT, BESI or domestic Chinese suppliers.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 GAAP annual operating loss narrowed to $3.2 million from a $92.5 million GAAP operating loss in FY2024.
Open source ↗KLIC’s working-capital discipline and balance-sheet liquidity give it time to invest through the downturn without relying on distress financing.StrengtheningMateriality: Medium
FY2025 GAAP annual operating cash flow was positive at $113.6 million despite a slight GAAP operating loss. A cyclical equipment company with cash flexibility can preserve R&D, service customers and potentially return capital while waiting for demand to recover.
Watch: Customer pushouts or cancellations create inventory build and receivables pressure that reverse FY2025 working-capital cash inflows.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
FY2025 GAAP annual operating cash flow was positive at $113.6 million despite a slight GAAP operating loss.
Open source ↗Exposure to automotive, compute, industrial, memory and communications packaging applications gives KLIC multiple routes to demand recovery rather than dependence on a single end market.HoldingMateriality: Medium
The company profile states KLIC advances device performance across automotive, compute, industrial, memory and communications markets. Diversified end-market pull reduces the chance that one weak semiconductor vertical permanently caps KLIC’s recovery.
Watch: Compute and memory packaging growth is captured mainly by advanced-packaging ecosystems where KLIC is not the preferred supplier.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
The company profile states KLIC advances device performance across automotive, compute, industrial, memory and communications markets.
Open source ↗
Full investment case & evidence
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Original research
KLIC’s interconnect-equipment franchise remains relevant enough that customers continue allocating assembly capex to its tools when semiconductor packaging demand recovers. If this holds, depressed earnings can normalize; if it breaks, KLIC is a melting cyclical rather than a recovery compounder.
KLIC’s process know-how and equipment differentiation remain strong enough to protect gross margin despite cyclical revenue pressure. Gross-margin resilience is what separates a valuable recovery from commodity equipment revenue that fails to create earnings.
KLIC’s cost base can flex through the cycle, so a demand recovery should convert disproportionately into operating income rather than being absorbed by fixed costs. The equity upside depends on normalized operating leverage; without it, revenue recovery will not restore per-share earnings power.
KLIC’s working-capital discipline and balance-sheet liquidity give it time to invest through the downturn without relying on distress financing. A cyclical equipment company with cash flexibility can preserve R&D, service customers and potentially return capital while waiting for demand to recover.
Exposure to automotive, compute, industrial, memory and communications packaging applications gives KLIC multiple routes to demand recovery rather than dependence on a single end market. Diversified end-market pull reduces the chance that one weak semiconductor vertical permanently caps KLIC’s recovery.
All standing thesis claims
Original report summary
its interconnect-equipment franchise remains relevant as packaging demand recovers, but the stock only works if that recovery restores margins rather than merely rebuilding low-quality revenue.
Bull case and bear case
Bull case and bear case for Kulicke & Soffa Industries
Where the evidence on Kulicke & Soffa Industries stands: Holding on the latest evidence (Oct 15, 2026). Of its 5 thesis points, 2 strengthening and 3 holding.
Bull case: what the evidence supports
KLIC’s interconnect-equipment franchise remains relevant enough that customers continue allocating assembly capex to its tools when semiconductor packaging demand recovers.
KLIC’s process know-how and equipment differentiation remain strong enough to protect gross margin despite cyclical revenue pressure.
KLIC’s cost base can flex through the cycle, so a demand recovery should convert disproportionately into operating income rather than being absorbed by fixed costs.
KLIC’s working-capital discipline and balance-sheet liquidity give it time to invest through the downturn without relying on distress financing.
Exposure to automotive, compute, industrial, memory and communications packaging applications gives KLIC multiple routes to demand recovery rather than dependence on a single end market.
Bear case: what would count against it
OSATs or IDMs shift incremental capex away from KLIC’s core wire-bonding and interconnect platforms toward hybrid bonding, thermo-compression bonding or other advanced-packaging tools where competitors such as BE Semiconductor Industries or ASMPT are better positioned.
ASMPT, BE Semiconductor Industries or lower-cost Chinese competitors force price concessions in KLIC’s core bonding-tool categories.
KLIC must increase R&D, field service or discounting materially just to defend its installed base against ASMPT, BESI or domestic Chinese suppliers.
Thesis-Break Engine
Thesis-break watch · Kulicke & Soffa Industries
No break has crossed Kulicke & Soffa Industries’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedDirector or principal officer change.
Kulicke & Soffa Industries filed an SEC 8-K on 2026-10-14: Director or principal officer change. It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
Kulicke & Soffa Industries filed an SEC 8-K on 2026-08-17: Director or principal officer change. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Kulicke & Soffa Industries filed an SEC 8-K on 2026-08-05: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- OSATs or IDMs shift incremental capex away from KLIC’s core wire-bonding and interconnect platforms toward hybrid bonding, thermo-compression bonding or other advanced-packaging tools where competitors such as BE Semiconductor Industries or ASMPT are better positioned.
- ASMPT, BE Semiconductor Industries or lower-cost Chinese competitors force price concessions in KLIC’s core bonding-tool categories.
- KLIC must increase R&D, field service or discounting materially just to defend its installed base against ASMPT, BESI or domestic Chinese suppliers.
- Customer pushouts or cancellations create inventory build and receivables pressure that reverse FY2025 working-capital cash inflows.
- Compute and memory packaging growth is captured mainly by advanced-packaging ecosystems where KLIC is not the preferred supplier.
KLIC news
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Financial statements
KLIC income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
KLIC: quick answers
- When does Kulicke & Soffa Industries (KLIC) report earnings next?
- Kulicke & Soffa Industries's next results are projected for November 18, 2026, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on August 5, 2026. Earnings calendar
- What is KLIC's short interest?
- As of October 30, 2026, 2.2M KLIC shares were sold short, 4.20% of its shares outstanding, down 4.2% from the count before. At the stock's average daily volume that is 3.7 days to cover. FINRA publishes the count twice a month. KLIC short interest history
- Have members of Congress traded KLIC?
- 3 trades in KLIC have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed KLIC trade
- Which well-known investors own KLIC?
- 2 of the 37 well-known funds tracked here reported KLIC shares in their latest 13F filings. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.1%; Maverick Capital, 0.0%. Fund portfolios
KLIC in well-known investors’ portfolios
2 of 37 funds reported KLIC shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.05% | $11.3M | +152.7% | Q2 2026 |
| Maverick Capital | 0.00% | $494K | New | Q2 2026 |