Azzad Asset Management Inc. ADV Buys New Shares 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.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC increased its position 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 worth $48,000 after purchasing an additional 522 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Diodes during the fourth quarter worth approximately $970,000. 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. GAMMA Investing LLC lifted its stake in Diodes by 4,211.7% in the first quarter. GAMMA Investing LLC now owns 35,313 shares of the semiconductor company's stock valued at $1,524,000 after buying an additional 34,494 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Diodes in the fourth quarter valued at approximately $7,063,000. Institutional investors and hedge funds own 99.23% of the company's stock.

Diodes Price Performance

DIOD stock traded up $0.42 during trading on Thursday, hitting $50.33. The stock had a trading volume of 432,695 shares, compared to its average volume of 439,696. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 91.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.11 and a current ratio of 3.43. The company's 50 day moving average price is $43.41 and its two-hundred day moving average price is $50.89. Diodes Incorporated has a 1-year low of $32.93 and a 1-year high of $86.74.

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

Diodes declared that its board has authorized a stock buyback program 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 stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DIOD shares. Robert W. Baird upgraded shares of 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. Baird R W raised Diodes from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Benchmark reaffirmed a "buy" rating and set a $62.00 price objective (up from $55.00) on shares of Diodes in a research report on Friday, June 13th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.