Ameriprise Financial Inc. Buys 5,660 Shares of Diodes Incorporated (NASDAQ:DIOD)

Ameriprise Financial Inc. raised its holdings in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,226 shares of the semiconductor company's stock after acquiring an additional 5,660 shares during the period. Ameriprise Financial Inc. owned about 0.37% of Diodes worth $10,498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in shares of Diodes by 198.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 522 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Diodes in the fourth quarter valued at approximately $79,000. Sterling Capital Management LLC grew its stake in shares of Diodes by 789.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company's stock worth $80,000 after buying an additional 1,145 shares during the last quarter. KBC Group NV increased its holdings in shares of Diodes by 36.7% during the fourth quarter. KBC Group NV now owns 1,987 shares of the semiconductor company's stock worth $123,000 after buying an additional 533 shares in the last quarter. Finally, Xponance Inc. acquired a new position in shares of Diodes during the fourth quarter worth $203,000. Institutional investors own 99.23% of the company's stock.

Diodes Trading Down 1.7%

DIOD traded down $0.78 during midday trading on Friday, hitting $45.05. 379,781 shares of the company were exchanged, compared to its average volume of 429,015. The firm's 50 day moving average price is $41.15 and its 200-day moving average price is $52.25. Diodes Incorporated has a 1-year low of $32.93 and a 1-year high of $86.74. The firm has a market capitalization of $2.09 billion, a P/E ratio of 47.42 and a beta of 1.37. 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 announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The business had revenue of $332.11 million for the quarter, compared to analysts' expectations of $323.28 million. During the same period in the prior year, the business posted $0.28 earnings per share. The firm's revenue was up 10.0% on a year-over-year basis. As a group, equities analysts forecast that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Robert W. Baird raised Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a report on Monday, April 7th. Benchmark dropped their target price on Diodes from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Truist Financial lowered their price objective on Diodes from $63.00 to $53.00 and set a "hold" rating for the company 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 report on Monday, April 7th. Two research 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. Based on data from MarketBeat.com, Diodes currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.67.

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.