Kulicke and Soffa Industries (NASDAQ:KLIC) Stock Price Up 3.2% Following Dividend Announcement

Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) shares were up 3.2% during trading on Friday after the company announced a dividend. The stock traded as high as $47.71 and last traded at $47.06. Approximately 130,431 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 495,098 shares. The stock had previously closed at $45.61.

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

Analysts Set New Price Targets

KLIC has been the topic of a number of research analyst reports. DA Davidson dropped their price objective on shares of Kulicke and Soffa Industries from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com cut Kulicke and Soffa Industries from a “hold” rating to a “sell” rating in a report on Tuesday. TD Cowen boosted their price target on Kulicke and Soffa Industries from $45.00 to $50.00 and gave the company 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 for the company in a report on Thursday, August 8th. Finally, Needham & Company LLC upgraded Kulicke and Soffa Industries from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $52.40.

Kulicke and Soffa Industries Stock Performance

The company has a fifty day moving average price of $44.12 and a two-hundred day moving average price 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 declared that its board has authorized a share buyback plan on Wednesday, November 13th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the semiconductor company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Kulicke and Soffa Industries

Several hedge funds and other institutional investors have recently made changes to their positions in KLIC. The Manufacturers Life Insurance Company grew its position in shares of Kulicke and Soffa Industries by 37.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,075,790 shares of the semiconductor company’s stock valued at $52,918,000 after acquiring an additional 291,787 shares during the period. Copeland Capital Management LLC grew its holdings in Kulicke and Soffa Industries by 22.0% during the third quarter. Copeland Capital Management LLC now owns 1,469,516 shares of the semiconductor company’s stock worth $66,319,000 after purchasing an additional 264,638 shares during the period. Royce & Associates LP increased its position in Kulicke and Soffa Industries by 20.3% during the third quarter. Royce & Associates LP now owns 1,111,312 shares of the semiconductor company’s stock worth $50,154,000 after buying an additional 187,673 shares during the last quarter. DDD Partners LLC acquired a new position in Kulicke and Soffa Industries during the second quarter worth approximately $8,163,000. Finally, Emerald Advisers LLC raised its stake in Kulicke and Soffa Industries by 57.5% in the second quarter. Emerald Advisers LLC now owns 443,002 shares of the semiconductor company’s stock valued at $21,791,000 after buying an additional 161,791 shares during the period. 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.