Ameriprise Financial Inc. Grows Stock Position in Diodes Incorporated (NASDAQ:DIOD)

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

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Diodes by 198.5% during the fourth 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 acquired a new stake in shares of Diodes in the fourth quarter valued at approximately $970,000. Vanguard Group Inc. increased 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Diodes in the fourth quarter valued at approximately $7,063,000. Finally, US Bancorp DE increased its holdings in shares of Diodes by 6.9% in the fourth quarter. US Bancorp DE now owns 25,002 shares of the semiconductor company's stock valued at $1,542,000 after purchasing an additional 1,614 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on DIOD. Robert W. Baird raised 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. Benchmark cut their target price on Diodes from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Baird R W raised Diodes from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Truist Financial cut their target price on Diodes from $63.00 to $53.00 and set a "hold" rating for the company in a research note on Wednesday, February 12th. Two 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $52.67.

Diodes Trading Down 2.7%

Shares of DIOD traded down $1.27 during midday trading on Thursday, hitting $45.83. 390,123 shares of the stock were exchanged, compared to its average volume of 427,590. Diodes Incorporated has a 52-week low of $32.93 and a 52-week high of $86.74. The stock has a fifty day simple moving average of $41.20 and a 200 day simple moving average of $52.61. The firm has a market cap of $2.13 billion, a P/E ratio of 48.24 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $323.28 million. During the same period last year, the business posted $0.28 earnings per share. The company's quarterly revenue was up 10.0% on a year-over-year basis. On average, research analysts anticipate that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

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