GAMMA Investing LLC Acquires 34,494 Shares of Diodes Incorporated (NASDAQ:DIOD)

GAMMA Investing LLC raised its holdings in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 4,211.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,313 shares of the semiconductor company's stock after purchasing an additional 34,494 shares during the period. GAMMA Investing LLC owned 0.08% of Diodes worth $1,524,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DIOD. Smartleaf Asset Management LLC increased its stake in shares of Diodes by 198.5% in 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. Quantbot Technologies LP purchased a new position in Diodes during the fourth quarter valued at approximately $79,000. Sterling Capital Management LLC grew its stake in Diodes by 789.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company's stock valued at $80,000 after acquiring an additional 1,145 shares in the last quarter. Xponance Inc. purchased a new position in Diodes during the fourth quarter valued at approximately $203,000. Finally, Verdence Capital Advisors LLC purchased a new position in Diodes during the fourth quarter valued at approximately $250,000. Hedge funds and other institutional investors own 99.23% of the company's stock.

Diodes Price Performance

DIOD stock traded up $0.42 during midday trading on Wednesday, reaching $50.33. The company had a trading volume of 432,695 shares, compared to its average volume of 439,696. 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 $86.74. The company has a market capitalization of $2.34 billion, a P/E ratio of 91.51 and a beta of 1.42. The firm has a 50-day moving average price of $43.41 and a 200-day moving average price of $50.89.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, topping 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 business had revenue of $332.11 million during the quarter, compared to analysts' expectations of $323.28 million. During the same quarter in the previous year, the company earned $0.28 EPS. The business's quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts anticipate that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

DIOD has been the subject of several recent analyst reports. Benchmark reaffirmed a "buy" rating and set a $62.00 price objective (up previously from $55.00) on shares of Diodes in a research note on Friday, June 13th. Baird R W raised shares of Diodes from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Robert W. Baird raised shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective for the company in a research note on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Diodes has a consensus rating of "Moderate Buy" and an average target price 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.