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Tech hardware companies are huge beneficiaries from the artificial intelligence (AI) trend. Even better, many also pay growing dividends.
Onto Innovation and Kulicke & Soffa both had a big year in 2022, but they're now down in the dumps. Despite a cyclical downturn, these two equipment makers look like they could have another surge of growth later this year and into 2024.
Kulicke and Soffa (KLIC) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.26 per share. This compares to earnings of $1.95 per share a year ago.
While headwinds persist for the semiconductor industry, signs within the industry suggest not all is lost for Kulicke and Soffa Industries (NASDAQ: KLIC). High inventory and weak demand are plaguing some sections of the semiconductor market, and that is bad news for companies like AMD (NASDAQ: AMD), which recently marked down inventory.
While boring but safe industries look quite compelling amid the rancorous noise of the banking sector fallout and the ever-present concern of high inflation, investors will to take some risks may want to consider solid technology stocks to buy for consistent or credible returns. As leading innovators, these enterprises may eventually find traction, thus leading to upside returns.
At first glance, the concept of tech stocks to buy might seem exceptionally risky at this juncture. After all, the market continues to digest the bank runs and failures of two major financial institutions.
Three semiconductor investors discuss Kulicke and Soffa Industries' earnings.
Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC ) Q1 2023 Earnings Conference Call February 2, 2023 8:00 AM ET Company Participants Joe Elgindy - Senior Director, Investor Relations Fusen Chen - President and Chief Executive Officer Lester Wong - Chief Financial Officer Conference Call Participants Krish Sankar - Cowen Craig Ellis - B. Riley Charles Shi - Needham and Company David Duley - Steelhead Securities Hans Chung - D.A.
Kulicke and Soffa (KLIC) delivered earnings and revenue surprises of 85% and 0.71%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Kulicke & Soffa trades at just 7.5 times trailing 12-month earnings, and the semiconductor/semicap super cycle could be stronger and longer than the market expects