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Shares of Kulicke and Soffa Industries (NASDAQ: KLIC) surged almost 6% following a rise in Micron’s stock post-upgrade, reflecting broader market interest in the semiconductor sector. As of 2:42 PM, KLIC shares were trading at $44.41, up 5.64%.
The surge in stock price coincides with increased trading volume, indicating strong market interest in the company. DePrince Race & Zollo Inc. recently lessened its stake in KLIC by 47.2% in the second quarter, now holding 633,937 shares valued at $31.18 million.
Several institutional investors have adjusted their holdings in KLIC. Notably, First Eagle Investment Management LLC increased its stake by 8.1%, and Heartland Advisors Inc. saw an 813% rise in their shares of the company. Norges Bank acquired a new position in KLIC in the fourth quarter valued at $18.53 million. Russell Investments Group Ltd. and TimesSquare Capital Management LLC also increased their holdings, signaling confidence in the semiconductor company’s future.
Currently, hedge funds and institutional investors own about 98.22% of Kulicke and Soffa Industries’ stock.
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