Royal Bank of Canada Sells 7,953 Shares of Diodes Incorporated (NASDAQ:DIOD)

Royal Bank of Canada cut its holdings in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 439,926 shares of the semiconductor company's stock after selling 7,953 shares during the quarter. Royal Bank of Canada owned 0.95% of Diodes worth $27,130,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in Diodes by 198.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company's stock valued at $48,000 after purchasing an additional 522 shares in the last quarter. Quantbot Technologies LP acquired a new position in Diodes during the fourth quarter valued at approximately $79,000. Sterling Capital Management LLC raised its position in Diodes by 789.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company's stock valued at $80,000 after purchasing an additional 1,145 shares in the last quarter. KBC Group NV raised its position in Diodes by 36.7% during the fourth quarter. KBC Group NV now owns 1,987 shares of the semiconductor company's stock valued at $123,000 after purchasing an additional 533 shares in the last quarter. Finally, Xponance Inc. acquired a new position in Diodes during the fourth quarter valued at approximately $203,000. 99.23% of the stock is owned by institutional investors.

Diodes Price Performance

Shares of NASDAQ:DIOD traded up $1.56 during trading on Tuesday, hitting $46.61. 458,912 shares of the company were exchanged, compared to its average volume of 429,135. The company has a market capitalization of $2.16 billion, a P/E ratio of 49.06 and a beta of 1.37. Diodes Incorporated has a 1-year low of $32.93 and a 1-year high of $86.74. The business's 50 day moving average is $41.11 and its 200-day moving average is $52.11. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The business had revenue of $332.11 million during the quarter, compared to the consensus estimate of $323.28 million. Diodes had a return on equity of 3.28% and a net margin of 3.36%. Diodes's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. Equities analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current year.

Diodes announced that its Board of Directors has approved a share buyback plan on Thursday, May 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the semiconductor company to buy 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 stock is undervalued.

Analyst Ratings Changes

Several brokerages have commented on DIOD. Truist Financial lowered their price objective on shares of Diodes from $63.00 to $53.00 and set a "hold" rating for the company in a research report on Wednesday, February 12th. Benchmark lowered their price objective on shares of Diodes from $65.00 to $55.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Robert W. Baird upgraded shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Monday, April 7th. Finally, Baird R W upgraded shares of Diodes from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.67.

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.