Tributary Capital Management LLC Purchases 75,682 Shares of Diodes Incorporated (NASDAQ:DIOD)

Tributary Capital Management LLC increased its holdings in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 367,306 shares of the semiconductor company's stock after purchasing an additional 75,682 shares during the period. Tributary Capital Management LLC owned approximately 0.79% of Diodes worth $15,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 in the last quarter. FMR LLC increased its stake in shares of Diodes by 2.0% during the fourth quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company's stock worth $363,977,000 after purchasing an additional 116,872 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 purchasing an additional 168,545 shares in the last quarter. Earnest Partners LLC increased its stake in shares of Diodes by 0.4% during the fourth quarter. Earnest Partners LLC now owns 2,119,097 shares of the semiconductor company's stock worth $130,685,000 after purchasing an additional 7,552 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Diodes by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,283,794 shares of the semiconductor company's stock worth $79,186,000 after acquiring an additional 17,742 shares during the last quarter. Hedge funds and other institutional investors own 99.23% of the company's stock.

Diodes Stock Down 0.8%

DIOD traded down $0.47 during trading on Friday, hitting $54.98. The company had a trading volume of 304,397 shares, compared to its average volume of 451,693. The company has a market cap of $2.55 billion, a PE ratio of 99.96 and a beta of 1.46. The business has a 50-day moving average of $50.94 and a 200-day moving average of $49.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.43 and a quick ratio of 2.11. Diodes Incorporated has a 1-year low of $32.93 and a 1-year high of $84.03.

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

Diodes announced that its board has initiated a share repurchase program on Thursday, May 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on DIOD. Robert W. Baird raised shares of 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. Benchmark restated a "buy" rating and issued a $62.00 price objective (up previously from $55.00) on shares of Diodes in a research note on Friday, June 13th. Wall Street Zen raised shares of Diodes from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Baird R W raised shares of Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Diodes has a consensus rating of "Buy" and a consensus price target of $55.00.

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.