Comerica Bank Buys 7,499 Shares of Diodes Incorporated (NASDAQ:DIOD)

Comerica Bank increased its stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 17.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,727 shares of the semiconductor company's stock after purchasing an additional 7,499 shares during the quarter. Comerica Bank owned approximately 0.11% of Diodes worth $3,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DIOD. Vanguard Group Inc. lifted its holdings in shares of Diodes by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 5,910,766 shares of the semiconductor company's stock valued at $364,517,000 after purchasing an additional 102,263 shares in the last quarter. FMR LLC lifted its stake in Diodes by 2.0% in the 4th quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company's stock worth $363,977,000 after acquiring an additional 116,872 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Diodes by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company's stock worth $138,053,000 after acquiring an additional 168,545 shares during the period. Earnest Partners LLC boosted its position in Diodes by 0.4% during the 4th quarter. Earnest Partners LLC now owns 2,119,097 shares of the semiconductor company's stock worth $130,685,000 after acquiring an additional 7,552 shares during the period. Finally, Victory Capital Management Inc. grew its stake in Diodes by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,907,509 shares of the semiconductor company's stock valued at $117,636,000 after acquiring an additional 163,374 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial decreased their price target on shares of Diodes from $63.00 to $53.00 and set a "hold" rating for the company in a report on Wednesday, February 12th. Baird R W upgraded shares of Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Benchmark lowered their price target on shares of Diodes from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Monday. Finally, Robert W. Baird upgraded Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective for the company in a report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $52.67.

Diodes Stock Up 2.0%

DIOD traded up $0.93 during midday trading on Tuesday, hitting $48.50. 115,753 shares of the company's stock traded hands, compared to its average volume of 420,462. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 1.99. The company has a market cap of $2.25 billion, a PE ratio of 51.05 and a beta of 1.37. The stock's fifty day simple moving average is $41.06 and its 200-day simple moving average is $53.14. Diodes Incorporated has a one year low of $32.93 and a one year high of $86.74.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The business had revenue of $332.11 million for the quarter, compared to the consensus estimate of $323.28 million. Diodes had a net margin of 3.36% and a return on equity of 3.28%. Diodes's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. As a group, equities analysts anticipate that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Diodes announced that its Board of Directors has authorized a share repurchase program on Thursday, May 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Diodes 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.