Homestead Advisers Corp Boosts Stock Position in Diodes Incorporated (NASDAQ:DIOD)

Homestead Advisers Corp grew its stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,686 shares of the semiconductor company's stock after acquiring an additional 9,100 shares during the quarter. Homestead Advisers Corp owned about 0.15% of Diodes worth $2,965,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Diodes during the first quarter valued at $2,026,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Diodes during the first quarter valued at $212,000. Allianz Asset Management GmbH boosted its position in shares of Diodes by 39.9% during the first quarter. Allianz Asset Management GmbH now owns 106,776 shares of the semiconductor company's stock valued at $4,610,000 after buying an additional 30,451 shares during the last quarter. Tributary Capital Management LLC boosted its position in shares of Diodes by 26.0% during the first quarter. Tributary Capital Management LLC now owns 367,306 shares of the semiconductor company's stock valued at $15,857,000 after buying an additional 75,682 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in shares of Diodes by 86.3% during the first quarter. Verdence Capital Advisors LLC now owns 7,551 shares of the semiconductor company's stock valued at $326,000 after buying an additional 3,498 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors.

Diodes Stock Performance

NASDAQ:DIOD traded up $0.03 on Friday, hitting $50.68. The stock had a trading volume of 135,162 shares, compared to its average volume of 512,437. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 92.11 and a beta of 1.46. The company has a quick ratio of 2.11, a current ratio of 3.43 and a debt-to-equity ratio of 0.01. The business's 50-day simple moving average is $51.33 and its two-hundred day simple moving average is $49.36. Diodes Incorporated has a 52-week low of $32.93 and a 52-week high of $81.88.

Diodes (NASDAQ:DIOD - Get Free Report) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Diodes had a return on equity of 3.04% and a net margin of 1.90%. The business had revenue of $332.11 million for the quarter, compared to analysts' expectations of $323.28 million. During the same period last year, the firm posted $0.28 earnings per share. The business's revenue for the quarter was up 10.0% on a year-over-year basis. As a group, research analysts predict that Diodes Incorporated will post 1.82 earnings per share for the current year.

Diodes declared that its board has authorized a share buyback 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 generally an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently commented on DIOD. Wall Street Zen raised Diodes from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Robert W. Baird raised Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research report on Monday, April 7th. Benchmark reaffirmed a "buy" rating and set a $62.00 price objective (up from $55.00) on shares of Diodes in a research report on Friday, June 13th. Finally, Baird R W raised Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus 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.