KLIC CEO Ernie Chen sells 80,000 shares ($3.9M) at $48.29; stock now -13.6% from 52-week high
Ernie Chen, President and CEO of Kulicke & Soffa, sold 80,000 shares (6.8% of his then-holdings) on 2024-12-05 at $48.29, leaving him with 1,100,765 shares post-transaction. The sale occurs with KLIC trading 13.6% below its 52-week high and down 2.3% over the prior 30 days, though up 25.0% over 90 days. Chen's cross-ticker track record shows 2 prior sales with an average 90-day return of +8.5% and zero well-timed outcomes at the 90-day mark (meaning prior sales did not precede declines). At KLIC specifically, his two prior sales in October 2023 similarly showed positive 90-day returns, indicating a pattern of selling before rallies rather than before declines. The company faces headwinds: annual revenue growth of -4.9%, full-year net income was negative, and quarterly net income is modest at $12.3M against revenue of $181.6M. The timing and magnitude of this open-market sale merit observation given Chen's unfavorable historical timing pattern and the company's profitability challenges.