Bayforest Capital Ltd Buys New Shares in Diodes Incorporated (NASDAQ:DIOD)

Key Points

• Bayforest Capital Ltd purchased 6,029 shares of Diodes Incorporated (NASDAQ:DIOD) in Q1, valued at approximately $260,000, highlighting increased institutional interest in the semiconductor company.
• Diodes reported a 10% increase in revenue year-over-year for the last quarter, with earnings per share of $0.19, surpassing the consensus estimate.
• The company's Board approved a $100 million stock repurchase program, indicating confidence in the stock's value and allowing the repurchase of about 5.4% of shares.

Bayforest Capital Ltd bought a new stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,029 shares of the semiconductor company's stock, valued at approximately $260,000.

Several other institutional investors also recently bought and sold shares of DIOD. Signaturefd LLC increased its holdings in Diodes by 170.1% in the first quarter. Signaturefd LLC now owns 597 shares of the semiconductor company's stock valued at $26,000 after buying an additional 376 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Diodes by 789.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company's stock valued at $80,000 after buying an additional 1,145 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Diodes in the first quarter valued at $212,000. Integrated Investment Consultants LLC purchased a new position in Diodes in the first quarter valued at $227,000. Finally, First National Advisers LLC purchased a new position in Diodes in the first quarter valued at $236,000. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Baird R W upgraded shares of Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Robert W. Baird upgraded shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 target price on the stock in a research report on Monday, April 7th. Benchmark reiterated a "buy" rating and issued a $62.00 target price (up previously from $55.00) on shares of Diodes in a research report on Friday, June 13th. Finally, Wall Street Zen upgraded shares of Diodes from a "hold" rating to a "buy" rating in a research report on Sunday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $55.00.

Diodes Stock Down 0.7%

Diodes stock traded down $0.34 during mid-day trading on Tuesday, reaching $49.12. 162,082 shares of the company's stock were exchanged, compared to its average volume of 510,358. Diodes Incorporated has a twelve month low of $32.93 and a twelve month high of $72.76. The company has a fifty day moving average of $51.84 and a 200-day moving average of $48.62. The company has a quick ratio of 2.11, a current ratio of 3.43 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.28 billion, a P/E ratio of 89.35 and a beta of 1.47.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The firm 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 revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $0.28 EPS. Sell-side analysts expect that Diodes Incorporated will post 1.82 EPS for the current year.

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