M c I n t i r e I n v e s t m e n t I n s t i t u t e1
MCINTIRE INVESTMENT INSTITUTE
AT THE UNIVERSITY OF VIRGINIA
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC Supports the Global Semiconductor Supply Chain
2
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC is the Established Leader in Wire Bonding
3
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC Has a History of Success
4
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC Offers a Complete Array of Assembly Products
5
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC Possesses an Asymmetrical Technological Advantage
6
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC Extends a Global Reach
7
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC Maintains a Low Cost, Lean Manufacturing Strategy
8
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC Is the Automatic Wire Bonder Market Share Leader
9
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC is a Compelling Long
10
M c I n t i r e I n v e s t m e n t I n s t i t u t e
Wire Bonding Market Trends Remain Favorable
11
M c I n t i r e I n v e s t m e n t I n s t i t u t e
Wire Bonding Is Still Competitive with Flip Chip
12
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC Lacks Recognition Among Investors
13
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC is Attractively Valued Relative to Earnings and Cash
14
M c I n t i r e I n v e s t m e n t I n s t i t u t e
KLIC is Priced for Secular Decline
15
M c I n t i r e I n v e s t m e n t I n s t i t u t e
Investors Fear that KLIC will Misallocate Capital
16
M c I n t i r e I n v e s t m e n t I n s t i t u t e
Shareholder Activism Can Unlock KLIC’s Value
17
M c I n t i r e I n v e s t m e n t I n s t i t u t e
Antecedents to Shareholder Activism Parallel OfficeMax
18
M c I n t i r e I n v e s t m e n t I n s t i t u t e
Risks Could Derail Investment Theses
19
M c I n t i r e I n v e s t m e n t I n s t i t u t e20
MII Should Initiate a Long Position in KLIC
M c I n t i r e I n v e s t m e n t I n s t i t u t e
Appendix: KLIC’s Top 10 Customers*
21
M c I n t i r e I n v e s t m e n t I n s t i t u t e
Appendix: KLIC Has Delivered Strong Gross Margins
22
M c I n t i r e I n v e s t m e n t I n s t i t u t e
Appendix: KLIC Has Delivered Strong EBIT Margins
23
M c I n t i r e I n v e s t m e n t I n s t i t u t e
Appendix: KLIC R&D, CapEx, and FCF
24
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MII - Kulicke and Soffa Industries (KLIC) Presentation - Ryan Rechkemmer

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PowerPoint presentation accompanying my long pitch of Kulicke and Soffa Industries (NASDAQ: KLIC) to the McIntire Investment Institute

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MII - Kulicke and Soffa Industries (KLIC) Presentation - Ryan Rechkemmer

  1. 1. M c I n t i r e I n v e s t m e n t I n s t i t u t e1 MCINTIRE INVESTMENT INSTITUTE AT THE UNIVERSITY OF VIRGINIA
  2. 2. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC Supports the Global Semiconductor Supply Chain 2
  3. 3. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC is the Established Leader in Wire Bonding 3
  4. 4. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC Has a History of Success 4
  5. 5. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC Offers a Complete Array of Assembly Products 5
  6. 6. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC Possesses an Asymmetrical Technological Advantage 6
  7. 7. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC Extends a Global Reach 7
  8. 8. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC Maintains a Low Cost, Lean Manufacturing Strategy 8
  9. 9. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC Is the Automatic Wire Bonder Market Share Leader 9
  10. 10. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC is a Compelling Long 10
  11. 11. M c I n t i r e I n v e s t m e n t I n s t i t u t e Wire Bonding Market Trends Remain Favorable 11
  12. 12. M c I n t i r e I n v e s t m e n t I n s t i t u t e Wire Bonding Is Still Competitive with Flip Chip 12
  13. 13. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC Lacks Recognition Among Investors 13
  14. 14. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC is Attractively Valued Relative to Earnings and Cash 14
  15. 15. M c I n t i r e I n v e s t m e n t I n s t i t u t e KLIC is Priced for Secular Decline 15
  16. 16. M c I n t i r e I n v e s t m e n t I n s t i t u t e Investors Fear that KLIC will Misallocate Capital 16
  17. 17. M c I n t i r e I n v e s t m e n t I n s t i t u t e Shareholder Activism Can Unlock KLIC’s Value 17
  18. 18. M c I n t i r e I n v e s t m e n t I n s t i t u t e Antecedents to Shareholder Activism Parallel OfficeMax 18
  19. 19. M c I n t i r e I n v e s t m e n t I n s t i t u t e Risks Could Derail Investment Theses 19
  20. 20. M c I n t i r e I n v e s t m e n t I n s t i t u t e20 MII Should Initiate a Long Position in KLIC
  21. 21. M c I n t i r e I n v e s t m e n t I n s t i t u t e Appendix: KLIC’s Top 10 Customers* 21
  22. 22. M c I n t i r e I n v e s t m e n t I n s t i t u t e Appendix: KLIC Has Delivered Strong Gross Margins 22
  23. 23. M c I n t i r e I n v e s t m e n t I n s t i t u t e Appendix: KLIC Has Delivered Strong EBIT Margins 23
  24. 24. M c I n t i r e I n v e s t m e n t I n s t i t u t e Appendix: KLIC R&D, CapEx, and FCF 24

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