Kulicke and Soffa Industries (NASDAQ:KLIC) Shares Gap Up Following Dividend Announcement

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC)’s stock price gapped up prior to trading on Thursday following a dividend announcement from the company. The stock had previously closed at $47.05, but opened at $48.98. Kulicke and Soffa Industries shares last traded at $48.34, with a volume of 169,653 shares traded.

The newly announced dividend which will be paid on Tuesday, January 7th. Investors of record on Thursday, December 19th will be paid a dividend of $0.205 per share. This is a positive change from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, December 19th. This represents a $0.82 annualized dividend and a yield of 1.78%. Kulicke and Soffa Industries’s dividend payout ratio (DPR) is currently -65.04%.

Analyst Upgrades and Downgrades

KLIC has been the topic of a number of research reports. StockNews.com downgraded Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Tuesday. TD Cowen lifted their price objective on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the stock a “hold” rating in a report on Friday. Craig Hallum decreased their price objective on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating on the stock in a 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. 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Kulicke and Soffa Industries currently has an average rating of “Hold” and an average price target of $52.40.

Kulicke and Soffa Industries Price Performance

The company has a market capitalization of $2.52 billion, a P/E ratio of -37.55 and a beta of 1.38. The company has a 50 day moving average of $44.12 and a 200-day moving average of $45.37.

Kulicke and Soffa Industries announced that its board has initiated a stock buyback program on Wednesday, November 13th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Kulicke and Soffa Industries

Large investors have recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in Kulicke and Soffa Industries during the 1st quarter valued at approximately $29,000. Advisors Asset Management Inc. boosted its position in Kulicke and Soffa Industries by 137.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 715 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 414 shares in the last quarter. Signaturefd LLC boosted its position in Kulicke and Soffa Industries by 226.3% during the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 543 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Kulicke and Soffa Industries during the 3rd quarter valued at approximately $53,000. Finally, Blue Trust Inc. boosted its position in shares of Kulicke and Soffa Industries by 17,075.0% in the 2nd quarter. Blue Trust Inc. now owns 1,374 shares of the semiconductor company’s stock worth $69,000 after purchasing an additional 1,366 shares in the last quarter. 98.22% of the stock is owned by institutional investors.

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.