Credit: Shutterstock photoSemiconductor-equipment maker Kulicke & Soffa Industries ( KLIC ) beat Wall Street's expectations for fiscal fourth-quarter sales and earnings, and its shares catapulted by more than 20% Tuesday.
[ibd-display-video id=2642056 width=50 float=left autostart=true]Kulicke & Soffa shares ended the day 20.4% to 28.52 by the closing bell on the stock market today . Kulicke & Soffa stock broke out of a 27-week consolidation period at a buy point of 23.10 on Nov. 6.
Singapore-based Kulicke & Soffa reported earnings per share of 51 cents, up 240% year over year, on sales of $215.9 million, up 48%, in its fiscal fourth quarter ended Sept. 30. Analysts expected earnings of 35 cents a share on sales of $208.7 million.
For the current quarter, it expects sales of $190 million, up 27%, based on the midpoint of its guidance. It did not give a target for earnings per share. Wall Street was modeling earnings per share of 17 cents on sales of $160.7 million.
"We continue to seek out meaningful new growth opportunities while extending existing market positions," Kulicke & Soffa Chief Executive Fusen Chen said in a news release .
IBD'S TAKE:Kulicke & Soffa has an IBD Composite Rating of 94, meaning it has outperformed 94% of stocks in key metrics over the past 12 months. But it ranks No. 22 out of 34 stocks in IBD's Electronics-Semiconductor Equipment industry group. To see which companies lead the group, visit the IBD Stock Checkup .
Kulicke & Soffa makes semiconductor packaging and electronic assembly systems for automotive, computing, communications and other markets.
Semiconductor unit production, a proxy for equipment demand, is expected to grow at 11.8% year over year in calendar 2017, the company said. Kulicke & Soffa expects semiconductor unit production to grow at a compound annual growth rate of 8.9% through calendar 2021, materially higher than the 3.4% rate of the previous four-year period.
Kulicke & Soffa said its products are aligned with several fast-growing markets including sensors and Nand flash memory.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
