Kulicke & Soffa: Buy On The TCB Inflection

Kulicke & Soffa delivered a clear cyclical inflection in Q2, with revenue up 21.5% sequentially and gross margin above 49%. TCB ramp and Advanced Solutions capacity expansion are driving a robust growth outlook, with FY27 revenue projected at $1.25B. I assign a buy rating and a $135 price target, implying 25% upside, supported by a 6x forward sales multiple.