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Entropy Technologies LP Makes New $413,000 Investment in Diodes Incorporated (NASDAQ:DIOD)

Diodes logo with Computer and Technology background

Key Points

  • Entropy Technologies LP has acquired a new stake in Diodes Incorporated, purchasing 9,574 shares valued at approximately $413,000.
  • Diodes recently reported earnings of $0.32 per share, exceeding analyst expectations, with revenues of $366.20 million for the quarter.
  • The company's board approved a share repurchase plan to buy back up to $100 million of its outstanding shares, indicating confidence in the stock's value.
  • Need better tools to track Diodes? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Entropy Technologies LP acquired a new stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,574 shares of the semiconductor company's stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Hood River Capital Management LLC bought a new stake in Diodes in the fourth quarter worth $72,037,000. Global Alpha Capital Management Ltd. lifted its holdings in shares of Diodes by 107.6% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 539,170 shares of the semiconductor company's stock worth $23,276,000 after acquiring an additional 279,400 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Diodes by 8.1% during the 4th 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 during the period. Raymond James Financial Inc. bought a new position in Diodes during the 4th quarter valued at about $7,063,000. Finally, Tributary Capital Management LLC raised its position in Diodes by 26.0% in the 1st quarter. Tributary Capital Management LLC now owns 367,306 shares of the semiconductor company's stock worth $15,857,000 after purchasing an additional 75,682 shares during the period. Hedge funds and other institutional investors own 99.23% of the company's stock.

Diodes Price Performance

Shares of DIOD stock opened at $54.82 on Thursday. The company has a market capitalization of $2.55 billion, a P/E ratio of 40.01 and a beta of 1.47. The company's 50-day simple moving average is $52.52 and its two-hundred day simple moving average is $48.26. Diodes Incorporated has a one year low of $32.93 and a one year high of $72.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.33 and a quick ratio of 2.04.

Diodes (NASDAQ:DIOD - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.08. The company had revenue of $366.20 million for the quarter, compared to analysts' expectations of $352.08 million. Diodes had a return on equity of 2.98% and a net margin of 4.59%. Diodes's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. As a group, equities analysts anticipate 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 outstanding shares. This buyback authorization allows the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on DIOD. Wall Street Zen upgraded Diodes from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Benchmark reaffirmed a "buy" rating and issued a $62.00 price objective (up previously from $55.00) on shares of Diodes in a research report on Friday, June 13th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $55.00.

Check Out Our Latest Stock Analysis on Diodes

Diodes Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Diodes (NASDAQ:DIOD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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