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Kulicke & Soffa heeds activist's call, launches buyback

Aug. 27, 2014 9:11 AM ETKulicke and Soffa Industries, Inc. (KLIC)By: Eric Jhonsa, SA News Editor1 Comment
  • Kulicke & Soffa (NASDAQ:KLIC) has launched a $100M buyback program. At current levels, it's good for repurchasing 9% of outstanding shares.
  • The chip equipment maker had $600M in cash as of June 28, and no debt. Activist Lemelson Capital called for a buyback in April, and Barron's had also taken note of Kulicke's huge cash balance and lack of a capital return program.
  • Shares +1.7% premarket.

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Comments (1)

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Monsieur Market profile picture
Nice work! It is about time...what are they going to do with the other $500 million?

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