#Singapore #share repurchase #Kulicke & Soffa #NASDAQ KLIC

Kulicke & Soffa Completes Major Share Repurchase

Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC), a key player in the semiconductor and electronics assembly sector, recently announced the completion of its extensive $800 million share repurchase program. This initiative, which was initially launched in the fourth quarter of 2017, saw the company buy back approximately 22.7 million shares at an average price of around $35.25 each. This strategic move highlights the company's steadfast commitment to its growth trajectory and delivering substantial value to its shareholders.

The completion of the repurchase program comes alongside new developments, as Kulicke & Soffa revealed a subsequent $300 million share repurchase initiative aimed at further enhancing shareholder returns. This program is set to commence immediately after the conclusion of the previous one. Through this new initiative, the company plans to buy back shares of its common stock both in open market operations and privately negotiated transactions, with decisions predicated on optimal timing and market factors, as well as the company's cash availability and strategic considerations.

As of the end of Q4 2024, Kulicke & Soffa reported holding $577.1 million in cash, cash equivalents, and short-term investments, alongside approximately 54.9 million weighted average shares outstanding. The combined efforts between the previous and current repurchase initiatives signify the firm’s dedication to returning value to investors, having deployed a total of $900 million since the announcement of its inaugural repurchase program in August 2014. In total, this has accounted for the buyback of around 30.9 million shares at an average price of $29.12 each.

Founded in 1951, Kulicke & Soffa has established itself as a leader in developing advanced solutions for semiconductor and electronics assembly. The company is focused on fostering a smart and sustainable technological future, with a diverse portfolio of products that support significant market transitions in areas such as automotive, communications, data storage, and energy storage.

In light of the current economic landscape, it is important to note that the company’s announcements also come with caution. As outlined in their communications, the future statements regarding their operations are classified as forward-looking under the Private Securities Litigation Reform Act of 1995. The company’s ability to meet its strategic goals may face obstacles due to various macroeconomic factors, including inflationary pressures, shifts in consumer sentiment, and geopolitical tensions.

This latest move by Kulicke & Soffa not only reinforces its commitment to shareholder engagement but also demonstrates its strategic approach to navigating the complexities of the semiconductor market. Investors and market observers alike will undoubtedly be keeping a close eye on how the new share repurchase program unfolds amid the ongoing economic uncertainties.

In conclusion, with the culmination of the $800 million buyback initiative and the initiation of the new $300 million program, Kulicke & Soffa is poised to strengthen its position within the industry while ensuring it continues to reward shareholders. As the company progresses, it remains committed to its vision of leading innovation in semiconductor technology, ultimately paving the way for future advancements in the electronics sector.