Kulicke & Soffa Industries, Inc., (KLIC, Financial) a semiconductor equipment manufacturer, was a majorcontributor to the Strategy’s return during the quarter. KLIC had very strong results posting 85.6% year over year revenue growth in the final quarter of 2020. Additionally, KLIC stands to benefit from the ripple e ects of accelerated megacap tech capex spending. Intel Corp, for example, just announced an initial $20 billion in capital expenditures as part of its plan to spend billions to revive its manufacturing prowess. In addition, Taiwan Semiconductor Manufacturing Co. plans to spend $100 billion over the next three years to expand its chip fabrication capacity.
From Keeley Teton Small Cap Opportunities Fund's first-quarter 2021 letter.
