Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) to Issue Dividend Increase – $0.21 Per Share

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) announced a quarterly dividend on Wednesday, November 13th,RTT News reports. Investors of record on Tuesday, January 7th will be given a dividend of 0.205 per share by the semiconductor company on Thursday, December 19th. This represents a $0.82 annualized dividend and a dividend yield of 1.80%. This is a boost from Kulicke and Soffa Industries’s previous quarterly dividend of $0.20.

Kulicke and Soffa Industries has increased its dividend payment by an average of 15.5% annually over the last three years. Kulicke and Soffa Industries has a payout ratio of 43.5% indicating that its dividend is sufficiently covered by earnings.

Kulicke and Soffa Industries Stock Performance

NASDAQ:KLIC opened at $45.61 on Friday. The firm has a 50-day moving average price of $44.00 and a two-hundred day moving average price of $45.36. Kulicke and Soffa Industries has a twelve month low of $38.20 and a twelve month high of $56.71.

Kulicke and Soffa Industries declared that its Board of Directors has initiated a stock buyback program on Wednesday, November 13th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have weighed in on KLIC. TD Cowen dropped their price target on Kulicke and Soffa Industries from $52.00 to $45.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. StockNews.com cut Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Craig Hallum cut their target price on shares of Kulicke and Soffa Industries from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.33.

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.