Sovereign s Capital Management LLC Takes Position in Diodes Incorporated (NASDAQ:DIOD)

Sovereign s Capital Management LLC purchased a new stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 39,895 shares of the semiconductor company's stock, valued at approximately $2,460,000. Diodes makes up approximately 1.6% of Sovereign s Capital Management LLC's portfolio, making the stock its 29th biggest position. Sovereign s Capital Management LLC owned about 0.09% of Diodes as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DIOD. Smartleaf Asset Management LLC increased its holdings in shares of 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 acquiring an additional 522 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Diodes during the fourth quarter valued at $79,000. Sterling Capital Management LLC boosted its position 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 buying an additional 1,145 shares during the last quarter. KBC Group NV boosted its position 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 buying an additional 533 shares during the last quarter. Finally, Xponance Inc. purchased a new stake in shares of Diodes during the fourth quarter valued at $203,000. 99.23% of the stock is currently owned by institutional investors.

Diodes Trading Up 0.3%

Shares of NASDAQ:DIOD opened at $48.62 on Monday. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 51.18 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26. The stock's 50-day simple moving average is $41.13 and its two-hundred day simple moving average is $52.77. Diodes Incorporated has a 52-week low of $32.93 and a 52-week high of $86.74.

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

Diodes declared that its board has authorized a share buyback plan on Thursday, May 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DIOD. Robert W. Baird raised Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research report on Monday, April 7th. Baird R W raised Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Truist Financial dropped their price objective on Diodes from $63.00 to $53.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. Finally, Benchmark dropped their price objective on Diodes from $65.00 to $55.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Diodes currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.67.

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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