Kulicke and Soffa Industries (NASDAQ:KLIC) to Repurchase $300.00 million in Stock

Kulicke and Soffa Industries (NASDAQ:KLIC) announced that its board has authorized a stock repurchase plan on Wednesday, November 13th, RTT News reports. The company plans to repurchase $300.00 million in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Kulicke and Soffa Industries Price Performance

NASDAQ KLIC opened at $46.19 on Friday. The stock has a 50-day moving average of $44.12 and a two-hundred day moving average of $45.37. The company has a market cap of $2.52 billion, a P/E ratio of -37.55 and a beta of 1.38. Kulicke and Soffa Industries has a 1-year low of $38.20 and a 1-year high of $56.71.

Kulicke and Soffa Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Thursday, December 19th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, December 19th. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is presently -65.04%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com lowered Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Tuesday. Craig Hallum decreased 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. DA Davidson decreased their price objective on Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday. TD Cowen raised their price objective on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company a “hold” rating in a report on Friday. Finally, Needham & Company LLC upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Kulicke and Soffa Industries has an average rating of “Hold” and a consensus target price of $52.40.

Kulicke and Soffa Industries Company Profile

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.