Bank of America Corp DE Has $60.30 Million Holdings in Diodes Incorporated (NASDAQ:DIOD)

Bank of America Corp DE trimmed its holdings in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 977,850 shares of the semiconductor company's stock after selling 61,507 shares during the period. Bank of America Corp DE owned 2.11% of Diodes worth $60,304,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Smartleaf Asset Management LLC raised its position in shares of Diodes by 198.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company's stock valued at $48,000 after acquiring an additional 522 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Diodes in the fourth quarter valued at about $970,000. Vanguard Group Inc. increased its holdings in 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Diodes in the fourth quarter valued at about $7,063,000. Finally, US Bancorp DE boosted its holdings in Diodes by 6.9% during the fourth quarter. US Bancorp DE now owns 25,002 shares of the semiconductor company's stock worth $1,542,000 after buying an additional 1,614 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Benchmark lowered their price target on Diodes from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Monday. Robert W. Baird raised shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Monday, April 7th. Baird R W upgraded shares of Diodes from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Finally, 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. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $52.67.

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 were exchanged, compared to its average volume of 424,629. 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 firm has a market cap of $2.26 billion, a PE ratio of 51.18 and a beta of 1.37. The stock has a fifty day simple moving average of $41.07 and a two-hundred day simple moving average of $52.98. Diodes Incorporated has a fifty-two week low of $32.93 and a fifty-two week 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, topping analysts' consensus estimates of $0.18 by $0.01. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The firm had revenue of $332.11 million during the quarter, compared to the consensus estimate of $323.28 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The business's revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current year.

Diodes announced that its board has initiated a stock repurchase program on Thursday, May 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

About Diodes

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.