D. E. Shaw & Co. Inc. Decreases Holdings in Diodes Incorporated (NASDAQ:DIOD)

D. E. Shaw & Co. Inc. reduced its stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 9.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,059 shares of the semiconductor company's stock after selling 34,719 shares during the period. D. E. Shaw & Co. Inc. owned 0.71% of Diodes worth $20,355,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in Diodes by 198.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 522 shares in the last quarter. Quantbot Technologies LP bought a new position in Diodes in the 4th quarter worth about $79,000. Sterling Capital Management LLC grew its stake in Diodes by 789.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company's stock worth $80,000 after acquiring an additional 1,145 shares in the last quarter. KBC Group NV grew its stake in Diodes by 36.7% in the 4th quarter. KBC Group NV now owns 1,987 shares of the semiconductor company's stock worth $123,000 after acquiring an additional 533 shares in the last quarter. Finally, Xponance Inc. bought a new position in Diodes in the 4th quarter worth about $203,000. 99.23% of the stock is currently owned by institutional investors.

Diodes Stock Up 0.3%

Shares of NASDAQ DIOD traded up $0.15 during midday trading on Friday, reaching $48.62. 411,594 shares of the company's stock traded hands, compared to its average volume of 425,668. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01. The stock's 50 day simple moving average is $41.13 and its 200-day simple moving average is $52.81. Diodes Incorporated has a one year low of $32.93 and a one year high of $86.74. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 51.18 and a beta of 1.37.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. Diodes had a net margin of 3.36% and a return on equity of 3.28%. The company had revenue of $332.11 million during the quarter, compared to analysts' expectations of $323.28 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. Diodes's revenue for the quarter was up 10.0% compared to the same quarter last year. On average, analysts predict that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

Diodes announced that its board has approved a share buyback plan on Thursday, May 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

DIOD has been the topic of a number of research analyst reports. Robert W. Baird upgraded shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 target price on the stock in a research note on Monday, April 7th. Benchmark dropped their price objective on shares of Diodes from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Truist Financial dropped their price objective on shares of Diodes from $63.00 to $53.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. Finally, Baird R W upgraded shares of Diodes from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Diodes presently has an average rating of "Moderate Buy" and an average target price of $52.67.

Diodes Company Profile

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.