Global Alpha Capital Management Ltd. Has $23.28 Million Stake in Diodes Incorporated (NASDAQ:DIOD)

Key Points

• Global Alpha Capital Management Ltd. increased its stake in Diodes Incorporated by 107.6%, owning approximately 539,170 shares worth $23.28 million as of the latest SEC filing.
• Diodes announced a $100 million share repurchase plan, indicating management's belief that its shares are undervalued.
• The company reported $0.32 earnings per share for the latest quarter, exceeding expectations and showing a 14.5% increase in revenue year-over-year.

Global Alpha Capital Management Ltd. boosted its position in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 107.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 539,170 shares of the semiconductor company's stock after acquiring an additional 279,400 shares during the period. Diodes accounts for 1.7% of Global Alpha Capital Management Ltd.'s investment portfolio, making the stock its 28th biggest holding. Global Alpha Capital Management Ltd. owned approximately 1.16% of Diodes worth $23,276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its position in Diodes by 2.0% during the 4th quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company's stock worth $363,977,000 after acquiring an additional 116,872 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 valued at $138,053,000 after buying an additional 168,545 shares during the last quarter. Earnest Partners LLC raised its position 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 valued at $130,685,000 after buying an additional 7,552 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Diodes by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 1,283,794 shares of the semiconductor company's stock valued at $79,186,000 after buying an additional 17,742 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in shares of Diodes during the fourth quarter valued at about $72,037,000. Institutional investors and hedge funds own 99.23% of the company's stock.

Diodes Stock Performance

NASDAQ DIOD opened at $50.91 on Friday. The stock has a market cap of $2.36 billion, a P/E ratio of 37.16 and a beta of 1.47. The company has a quick ratio of 2.11, a current ratio of 3.43 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a twelve month low of $32.93 and a twelve month high of $72.76. The company's 50-day simple moving average is $52.11 and its 200 day simple moving average is $48.44.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.08. The company had revenue of $366.20 million for the quarter, compared to the consensus estimate of $352.08 million. Diodes had a return on equity of 3.01% and a net margin of 4.59%. The company's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. As a group, research analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Diodes from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Benchmark reaffirmed a "buy" rating and set 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 company. Based on data from MarketBeat.com, Diodes currently has an average rating of "Buy" and an average price target of $55.00.

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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