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

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) shares gapped up prior to trading on Thursday after the company announced a dividend. 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 Thursday, December 19th. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 1.70%. 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 currently -76.92%.

Analyst Ratings Changes

KLIC has been the topic of several recent analyst reports. TD Cowen lowered their target price on shares of Kulicke and Soffa Industries from $52.00 to $45.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. StockNews.com downgraded Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Craig Hallum reduced their target price on Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.33.

Kulicke and Soffa Industries Price Performance

The company has a 50 day simple moving average of $44.00 and a 200-day simple moving average of $45.36. The stock has a market cap of $2.64 billion, a P/E ratio of -45.67 and a beta of 1.38.

Kulicke and Soffa Industries declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 13th that allows the company 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Kulicke and Soffa Industries

A number of large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in shares of Kulicke and Soffa Industries during the first quarter valued at about $29,000. Advisors Asset Management Inc. grew 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 worth $32,000 after acquiring an additional 414 shares during the last quarter. Signaturefd LLC increased its stake in Kulicke and Soffa Industries by 226.3% in the 3rd quarter. Signaturefd LLC now owns 783 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 543 shares during the period. Blue Trust Inc. increased its stake in 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 during the period. Finally, Innealta Capital LLC bought a new stake in Kulicke and Soffa Industries in the second quarter valued at approximately $73,000. Hedge funds and other institutional investors own 98.22% of the company’s stock.

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.