Bridge City Capital LLC Grows Stock Position in Diodes Incorporated (NASDAQ:DIOD)

Bridge City Capital LLC grew its position in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 18.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,946 shares of the semiconductor company's stock after buying an additional 17,112 shares during the period. Diodes accounts for 1.4% of Bridge City Capital LLC's investment portfolio, making the stock its 23rd largest position. Bridge City Capital LLC owned about 0.24% of Diodes worth $4,746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DIOD. Smartleaf Asset Management LLC lifted its holdings in 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 purchasing an additional 522 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Diodes in the fourth quarter worth approximately $79,000. Sterling Capital Management LLC raised its stake 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 purchasing an additional 1,145 shares in the last quarter. Xponance Inc. purchased a new stake in Diodes in the fourth quarter valued at approximately $203,000. Finally, Verdence Capital Advisors LLC bought a new stake in Diodes during the fourth quarter valued at approximately $250,000. Institutional investors own 99.23% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Baird R W raised shares of Diodes from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Truist Financial dropped their price target on Diodes from $63.00 to $53.00 and set a "hold" rating for the company in a research note on Wednesday, February 12th. 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 report on Monday, April 7th. Finally, Benchmark decreased their price objective on Diodes from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Diodes currently has an average rating of "Moderate Buy" and an average price target of $52.67.

Diodes Stock Up 4.1%

DIOD opened at $49.40 on Monday. Diodes Incorporated has a 12 month low of $32.93 and a 12 month high of $86.74. The company has a current ratio of 3.26, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The business's 50-day moving average price is $41.32 and its 200-day moving average price is $51.48. The company has a market cap of $2.29 billion, a P/E ratio of 52.00 and a beta of 1.42.

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

Diodes declared that its board has approved a share repurchase plan on Thursday, May 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors 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.

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