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

Royal Bank of Canada lowered its position in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 1.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 439,926 shares of the semiconductor company's stock after selling 7,953 shares during the quarter. Royal Bank of Canada owned about 0.95% of Diodes worth $27,130,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its position in shares of Diodes by 198.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company's stock worth $48,000 after purchasing an additional 522 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Diodes during the fourth quarter valued at about $79,000. Sterling Capital Management LLC boosted its stake in shares of 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 boosted its stake in shares of 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 shares of Diodes in the fourth quarter worth approximately $203,000. Institutional investors and hedge funds own 99.23% of the company's stock.

Wall Street Analyst Weigh In

DIOD has been the topic of several recent analyst reports. Baird R W raised Diodes from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Robert W. Baird raised Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Monday, April 7th. Benchmark dropped their price target on Diodes from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, Truist Financial dropped their price target on Diodes from $63.00 to $53.00 and set a "hold" rating on the stock in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.67.

Diodes Stock Up 0.1%

Shares of NASDAQ DIOD traded up $0.05 during midday trading on Thursday, hitting $45.64. 36,705 shares of the stock traded hands, compared to its average volume of 427,280. The company has a market cap of $2.12 billion, a PE ratio of 48.11 and a beta of 1.37. Diodes Incorporated has a one year low of $32.93 and a one year high of $86.74. The business has a 50 day moving average price of $41.13 and a two-hundred day moving average price of $52.03. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm 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%. The company's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, equities analysts predict that Diodes Incorporated will post 1.82 EPS for the current year.

Diodes announced that its board has approved a stock buyback plan on Thursday, May 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

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.