New Age Alpha Advisors LLC Purchases New Shares in Diodes Incorporated (NASDAQ:DIOD)

Key Points

• New Age Alpha Advisors LLC invested approximately $288,000 in Diodes Incorporated, acquiring 6,679 shares in the first quarter of 2023.
• Several large investors, including Hood River Capital Management and Dimensional Fund Advisors, also increased their stakes in Diodes, with institutional ownership now at 99.23% of the company.
• Diodes Incorporated reported a 14.5% increase in revenue year-over-year for the last quarter, with earnings per share exceeding analysts' expectations.

New Age Alpha Advisors LLC purchased a new stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,679 shares of the semiconductor company's stock, valued at approximately $288,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new position in shares of Diodes in the fourth quarter worth about $72,037,000. Dimensional Fund Advisors LP lifted its stake in shares of Diodes by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company's stock worth $138,053,000 after buying an additional 168,545 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Diodes in the fourth quarter worth about $7,063,000. Tributary Capital Management LLC lifted its stake in shares of Diodes by 26.0% in the first quarter. Tributary Capital Management LLC now owns 367,306 shares of the semiconductor company's stock worth $15,857,000 after buying an additional 75,682 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in Diodes by 14.2% in the 4th quarter. Frontier Capital Management Co. LLC now owns 552,054 shares of the semiconductor company's stock valued at $34,045,000 after purchasing an additional 68,823 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company's stock.

Diodes Stock Down 2.3%

NASDAQ DIOD traded down $1.27 on Thursday, hitting $53.55. 88,964 shares of the stock were exchanged, compared to its average volume of 512,416. The company has a quick ratio of 2.04, a current ratio of 3.33 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a fifty-two week low of $32.93 and a fifty-two week high of $72.76. The company has a market cap of $2.49 billion, a PE ratio of 39.05 and a beta of 1.47. The company has a 50-day moving average price of $52.52 and a 200-day moving average price of $48.26.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $366.20 million during the quarter, compared to analysts' expectations of $352.08 million. During the same quarter in the previous year, the business posted $0.33 EPS. The firm's revenue was up 14.5% on a year-over-year basis. Sell-side analysts anticipate that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

Diodes declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DIOD shares. Wall Street Zen upgraded shares of Diodes from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Benchmark restated a "buy" rating and issued a $62.00 price objective (up previously from $55.00) on shares of Diodes in a 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.com, the stock has a consensus rating of "Buy" and an average 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.