Homestead Advisers Corp Has $2.97 Million Stock Holdings in Diodes Incorporated (NASDAQ:DIOD)

Homestead Advisers Corp increased its position in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 15.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,686 shares of the semiconductor company's stock after purchasing an additional 9,100 shares during the quarter. Homestead Advisers Corp owned approximately 0.15% of Diodes worth $2,965,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in shares of Diodes by 170.1% in the 1st quarter. Signaturefd LLC now owns 597 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 376 shares during the period. Quantbot Technologies LP acquired a new position in Diodes during the 4th quarter worth approximately $79,000. Sterling Capital Management LLC boosted its position in Diodes by 789.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company's stock worth $80,000 after acquiring an additional 1,145 shares during the last quarter. Xponance Inc. acquired a new stake in shares of Diodes in the 4th quarter valued at approximately $203,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Diodes in the 1st quarter valued at approximately $212,000. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Diodes Stock Performance

Diodes stock traded down $0.89 during midday trading on Tuesday, reaching $54.37. The stock had a trading volume of 44,710 shares, compared to its average volume of 449,263. The firm's 50-day moving average price is $50.94 and its 200 day moving average price is $49.47. Diodes Incorporated has a 12 month low of $32.93 and a 12 month high of $84.03. The firm has a market capitalization of $2.52 billion, a PE ratio of 98.80 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.

Diodes (NASDAQ:DIOD - Get Free Report) last announced its quarterly 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. Diodes had a return on equity of 3.04% and a net margin of 1.90%. The firm had revenue of $332.11 million for the quarter, compared to analysts' expectations of $323.28 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company's revenue 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 fiscal year.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Benchmark reissued a "buy" rating and set a $62.00 target price (up previously from $55.00) on shares of Diodes in a report on Friday, June 13th. Robert W. Baird upgraded 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. Baird R W upgraded Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Wall Street Zen upgraded Diodes from a "hold" rating to a "buy" rating in a research report on Friday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently 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.

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