Sherbrooke Park Advisers LLC Acquires New Stake in Diodes Incorporated (NASDAQ:DIOD)

Sherbrooke Park Advisers LLC bought a new stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 5,620 shares of the semiconductor company's stock, valued at approximately $347,000.

Several other large investors also recently made changes to their positions in DIOD. Hood River Capital Management LLC acquired a new stake in shares of Diodes in the 4th quarter valued at about $72,037,000. Norges Bank acquired a new position in Diodes during the 4th quarter valued at about $33,933,000. Dimensional Fund Advisors LP boosted its stake in Diodes by 8.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company's stock valued at $138,053,000 after purchasing an additional 168,545 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Diodes by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,907,509 shares of the semiconductor company's stock valued at $117,636,000 after purchasing an additional 163,374 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Diodes by 55.9% during the 4th quarter. JPMorgan Chase & Co. now owns 353,595 shares of the semiconductor company's stock valued at $21,806,000 after purchasing an additional 126,853 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DIOD. Robert W. Baird upgraded Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price target for the company in a research note on Monday, April 7th. Benchmark cut their price target on Diodes from $65.00 to $55.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Truist Financial cut their price target on Diodes from $63.00 to $53.00 and set a "hold" rating for the company in a research note on Wednesday, February 12th. Finally, Baird R W upgraded Diodes from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.67.

Diodes Stock Performance

Shares of NASDAQ DIOD traded down $0.78 during midday trading on Friday, reaching $45.05. The company's stock had a trading volume of 379,781 shares, compared to its average volume of 429,015. Diodes Incorporated has a 12-month low of $32.93 and a 12-month high of $86.74. The firm has a 50 day moving average price of $41.15 and a 200-day moving average price of $52.32. The stock has a market capitalization of $2.09 billion, a P/E ratio of 47.42 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 1.99.

Diodes (NASDAQ:DIOD - Get Free Report) last announced its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The firm had revenue of $332.11 million for the quarter, compared to the consensus estimate of $323.28 million. During the same quarter in the previous year, the business earned $0.28 EPS. The company's revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts predict that Diodes Incorporated will post 1.82 earnings per share for the current year.

Diodes declared that its Board of Directors has authorized a share repurchase program on Thursday, May 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are 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.