Allspring Global Investments Holdings LLC Has $11.36 Million Position in Diodes Incorporated (NASDAQ:DIOD)

Allspring Global Investments Holdings LLC grew its stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 263,695 shares of the semiconductor company's stock after buying an additional 6,062 shares during the period. Allspring Global Investments Holdings LLC owned 0.57% of Diodes worth $11,360,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DIOD. Pitcairn Co. lifted its position in Diodes by 4.2% during the fourth quarter. Pitcairn Co. now owns 5,208 shares of the semiconductor company's stock valued at $321,000 after buying an additional 208 shares during the period. Summit Investment Advisors Inc. increased its holdings in Diodes by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,772 shares of the semiconductor company's stock worth $294,000 after acquiring an additional 262 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Diodes by 5.4% in the 1st quarter. QRG Capital Management Inc. now owns 6,290 shares of the semiconductor company's stock worth $272,000 after acquiring an additional 323 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Diodes by 1.0% during the 4th quarter. Corient Private Wealth LLC now owns 32,505 shares of the semiconductor company's stock valued at $2,005,000 after buying an additional 328 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Diodes by 4.1% during the 4th quarter. HighTower Advisors LLC now owns 8,501 shares of the semiconductor company's stock valued at $524,000 after acquiring an additional 335 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors.

Diodes Stock Performance

DIOD traded down $2.85 on Monday, hitting $54.62. The company had a trading volume of 556,203 shares, compared to its average volume of 450,344. The company's fifty day moving average price is $47.69 and its 200 day moving average price is $49.92. Diodes Incorporated has a 1-year low of $32.93 and a 1-year high of $86.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.43 and a quick ratio of 2.11. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 99.31 and a beta of 1.46.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Diodes had a return on equity of 3.04% and a net margin of 1.90%. The company had revenue of $332.11 million for the quarter, compared to analyst estimates of $323.28 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business's revenue was up 10.0% on a year-over-year basis. Equities analysts predict that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Diodes declared that its board has approved a share buyback 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 reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

DIOD has been the subject of a number of research reports. Benchmark reaffirmed a "buy" rating and set a $62.00 target price (up previously from $55.00) on shares of Diodes in a report on Friday, June 13th. Robert W. Baird upgraded shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Monday, April 7th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $55.00.

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.