Global Alpha Capital Management Ltd. Raises Holdings 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. increased its stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 107.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,170 shares of the semiconductor company's stock after buying an additional 279,400 shares during the quarter. Diodes comprises approximately 1.7% of Global Alpha Capital Management Ltd.'s investment portfolio, making the stock its 28th biggest position. Global Alpha Capital Management Ltd. owned about 1.16% of Diodes worth $23,276,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DIOD. LPL Financial LLC raised its position in Diodes by 20.6% during the 4th quarter. LPL Financial LLC now owns 45,094 shares of the semiconductor company's stock worth $2,755,000 after purchasing an additional 7,697 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Diodes by 55.9% during the 4th quarter. JPMorgan Chase & Co. now owns 353,595 shares of the semiconductor company's stock valued at $21,806,000 after purchasing an additional 126,853 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Diodes by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 1,283,794 shares of the semiconductor company's stock valued at $79,186,000 after purchasing an additional 17,742 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Diodes by 43.3% during the 4th quarter. Russell Investments Group Ltd. now owns 66,163 shares of the semiconductor company's stock valued at $4,080,000 after purchasing an additional 20,005 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Diodes by 2.0% during the 4th quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company's stock valued at $363,977,000 after purchasing an additional 116,872 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company's stock.

Diodes Trading Up 2.2%

Shares of Diodes stock traded up $1.16 during trading on Wednesday, reaching $54.61. 253,873 shares of the stock were exchanged, compared to its average volume of 514,011. The company has a quick ratio of 2.04, a current ratio of 3.33 and a debt-to-equity ratio of 0.01. The stock's fifty day moving average is $52.38 and its 200 day moving average is $48.22. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 39.88 and a beta of 1.47. Diodes Incorporated has a 1 year low of $32.93 and a 1 year high of $72.76.

Diodes (NASDAQ:DIOD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.24 by $0.08. Diodes had a net margin of 4.59% and a return on equity of 2.98%. The business had revenue of $366.20 million during the quarter, compared to analyst estimates of $352.08 million. During the same period last year, the business posted $0.33 earnings per share. Diodes's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts expect that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

DIOD has been the subject of a number of research analyst reports. Wall Street Zen raised 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 target price (up from $55.00) on shares of Diodes in a research report on Friday, June 13th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $55.00.

About Diodes

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.