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10 Low P/E Semiconductor Stocks With Upside

10. Kulicke and Soffa Industries designs, manufactures and sells capital equipment and expendable tools used to assemble semiconductor devices, including integrated circuits (IC), high and low powered discrete devices, light-emitting diodes (LEDs), and power modules. Approximately, 97% of its revenue for first quarter of 2011 was generated from outside the U.S., primarily the Asia-Pacific region.

For first quarter of 2011, net revenue was reported at $148.9 million compared to $128.4 million for the same quarter in 2010, attributable to an 18.9% increase in equipment revenue. Higher equipment revenue was due to a 202% unit volume increase for its wedge bonders, partially offset by a 17.4% decline in ball bonder volume. Gross profit expanded 450 basis points to 48.4%, while operating margin increased 82 basis points to 14.8%.

However, net income declined marginally to $15.1 million from $15.8 million in the year-ago quarter, while net income per share remained flat at 21 cents. Analysts estimated earnings of 19 cents per share. Cash and cash equivalents stood at $197.6 million compared to $178.1 million, a sequential increase of 10.9%.

Going forward, the company expects revenue of $175-$195 million during the second quarter, or 14%-27% year-over-year increase. The wedge bonder business and improving outsourced semiconductor assembly and test providers (OSAT) volumes are expected to drive growth.

Of the five analysts covering the stock, 60% recommend a buy, while 20% recommend a sell. On average, analysts estimate 7.1% upside to $9.59 in value from current levels. The stock has already gained 21.6% during the past one year and is currently trading at a P/E as low as 4.6
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