Kulicke and Soffa Industries (NASDAQ:KLIC) Declares Share Buyback Program

Kulicke and Soffa Industries (NASDAQ:KLIC) declared that its board has authorized a stock buyback program on Wednesday, November 13th, RTT News reports. The company plans to buyback $300.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on KLIC shares. StockNews.com downgraded Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Tuesday. Craig Hallum reduced their target price on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen reduced their target price on Kulicke and Soffa Industries from $52.00 to $45.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.33.

Kulicke and Soffa Industries Price Performance

Kulicke and Soffa Industries stock opened at $47.05 on Thursday. The stock’s 50-day moving average is $43.87 and its 200-day moving average is $45.35. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -45.61 and a beta of 1.38. Kulicke and Soffa Industries has a 12 month low of $38.20 and a 12 month high of $56.71.

Kulicke and Soffa Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, January 7th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.74%. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is -76.92%.

About Kulicke and Soffa Industries

Kulicke and Soffa Industries, Inc designs, manufactures, and sells capital equipment and tools used to assemble semiconductor devices. It operates through four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services (APS). The company offers ball bonding equipment, wafer level bonding equipment, wedge bonding equipment; and advanced display, die-attach, and thermocompression systems and solutions, as well as tools, spares and services for equipment.