Benchmark Reiterates Buy Rating for Diodes (NASDAQ:DIOD)

Benchmark reaffirmed their buy rating on shares of Diodes (NASDAQ:DIOD - Free Report) in a research report sent to investors on Friday morning, MarketBeat.com reports. The brokerage currently has a $62.00 target price on the semiconductor company's stock, up from their prior target price of $55.00.

Several other analysts also recently issued reports on the stock. Baird R W raised shares of Diodes from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. 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 report on Monday, April 7th. Two research 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.

Diodes Stock Up 3.4%

Shares of NASDAQ:DIOD traded up $1.69 on Friday, reaching $50.84. The company had a trading volume of 393,916 shares, compared to its average volume of 520,905. The stock has a market capitalization of $2.36 billion, a P/E ratio of 53.52 and a beta of 1.42. The stock has a 50-day moving average price of $42.65 and a 200 day moving average price of $51.00. Diodes has a twelve month low of $32.93 and a twelve month high of $86.74. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01.

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

Diodes declared that its Board of Directors has approved a share repurchase program on Thursday, May 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Diodes

Hedge funds have recently modified their holdings of the business. Inspire Investing LLC raised its stake in Diodes by 22.5% during the 1st quarter. Inspire Investing LLC now owns 7,989 shares of the semiconductor company's stock valued at $345,000 after purchasing an additional 1,469 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Diodes by 1,405.2% during the 1st quarter. Jane Street Group LLC now owns 126,858 shares of the semiconductor company's stock worth $5,476,000 after purchasing an additional 118,430 shares during the period. Bayforest Capital Ltd acquired a new position in shares of Diodes during the first quarter valued at about $260,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Diodes by 6.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 104,719 shares of the semiconductor company's stock valued at $4,521,000 after buying an additional 6,708 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Diodes in the first quarter valued at about $559,000. 99.23% of the stock is owned by institutional investors.

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.