Azzad Asset Management Inc. ADV Makes New Investment in Diodes Incorporated (NASDAQ:DIOD)

Azzad Asset Management Inc. ADV bought a new position in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,964 shares of the semiconductor company's stock, valued at approximately $689,000.

A number of other hedge funds have also recently modified their holdings of DIOD. Vanguard Group Inc. lifted its stake 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 buying an additional 102,263 shares during the last quarter. FMR LLC raised its holdings in shares of Diodes by 2.0% in the fourth quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company's stock worth $363,977,000 after acquiring an additional 116,872 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Diodes by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company's stock worth $138,053,000 after acquiring an additional 168,545 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Diodes by 0.4% during the 4th quarter. Earnest Partners LLC now owns 2,119,097 shares of the semiconductor company's stock valued at $130,685,000 after acquiring an additional 7,552 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Diodes by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,907,509 shares of the semiconductor company's stock worth $117,636,000 after buying an additional 163,374 shares during the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DIOD. Robert W. Baird upgraded Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Monday, April 7th. Benchmark reissued a "buy" rating and issued a $62.00 price target (up previously from $55.00) on shares of Diodes in a report on Friday. Finally, Baird R W raised Diodes from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Diodes currently has an average rating of "Moderate Buy" and an average target price of $55.00.

Diodes Price Performance

DIOD stock traded down $0.93 during trading hours on Tuesday, hitting $49.91. 480,806 shares of the stock traded hands, compared to its average volume of 437,826. The company has a current ratio of 3.43, a quick ratio of 2.11 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $42.98 and a 200 day simple moving average of $50.90. Diodes Incorporated has a one year low of $32.93 and a one year high of $86.74. The company has a market cap of $2.32 billion, a P/E ratio of 41.67 and a beta of 1.42.

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, beating 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 business had revenue of $332.11 million during the quarter, compared to analyst estimates of $323.28 million. During the same quarter last year, the company posted $0.28 EPS. Diodes's revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current year.

Diodes declared that its board has authorized a stock repurchase plan on Thursday, May 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase 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 shares are undervalued.

Diodes Company 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.