Envestnet Asset Management Inc. trimmed its position in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 25.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 129,839 shares of the semiconductor company's stock after selling 44,214 shares during the period. Envestnet Asset Management Inc. owned about 0.28% of Diodes worth $5,605,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of DIOD. Principal Financial Group Inc. lifted its position in shares of Diodes by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 230,728 shares of the semiconductor company's stock valued at $9,961,000 after buying an additional 5,931 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Diodes during the 1st quarter valued at approximately $292,000. Allspring Global Investments Holdings LLC raised its stake in Diodes by 2.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 263,695 shares of the semiconductor company's stock valued at $11,360,000 after purchasing an additional 6,062 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Diodes by 19.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 18,768 shares of the semiconductor company's stock worth $810,000 after acquiring an additional 3,092 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in Diodes by 5.4% in the 1st quarter. QRG Capital Management Inc. now owns 6,290 shares of the semiconductor company's stock worth $272,000 after acquiring an additional 323 shares during the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.
Diodes Price Performance
DIOD stock traded down $0.13 during mid-day trading on Friday, reaching $50.52. 308,633 shares of the company's stock were exchanged, compared to its average volume of 423,798. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 91.85 and a beta of 1.46. The stock's 50 day moving average is $51.37 and its 200 day moving average is $49.26. 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 12-month low of $32.93 and a 12-month high of $81.88.
Diodes (NASDAQ:DIOD - Get Free Report) last released its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $332.11 million for the quarter, compared to the consensus estimate of $323.28 million. Diodes had a return on equity of 3.04% and a net margin of 1.90%. The business's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. On average, research analysts expect that Diodes Incorporated will post 1.82 EPS for the current year.
Diodes announced that its board has initiated a stock repurchase program on Thursday, May 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Wall Street Zen downgraded Diodes from a "buy" rating to a "hold" rating in a research note on Saturday. Benchmark reissued a "buy" rating and set a $62.00 target price (up previously from $55.00) on shares of Diodes in a research report on Friday, June 13th. Robert W. Baird raised 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. Finally, Baird R W raised Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.
Check Out Our Latest Stock Analysis on Diodes
About Diodes
(
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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