Sovereign s Capital Management LLC Invests $2.46 Million in Diodes Incorporated (NASDAQ:DIOD)

Sovereign s Capital Management LLC acquired a new stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 39,895 shares of the semiconductor company's stock, valued at approximately $2,460,000. Diodes comprises about 1.6% of Sovereign s Capital Management LLC's investment portfolio, making the stock its 29th largest holding. Sovereign s Capital Management LLC owned 0.09% of Diodes as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of DIOD. Hood River Capital Management LLC purchased a new stake in shares of Diodes in the 4th quarter valued at approximately $72,037,000. Norges Bank purchased a new position in shares of Diodes in the 4th quarter valued at $33,933,000. Dimensional Fund Advisors LP grew its position in shares of Diodes by 8.1% in 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 buying an additional 168,545 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Diodes by 9.4% in 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 buying an additional 163,374 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Diodes by 55.9% in the 4th quarter. JPMorgan Chase & Co. now owns 353,595 shares of the semiconductor company's stock valued at $21,806,000 after buying an additional 126,853 shares during the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Diodes Stock Performance

NASDAQ:DIOD traded down $0.78 during trading hours on Friday, reaching $45.05. 379,781 shares of the company's stock were exchanged, compared to its average volume of 428,219. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 47.42 and a beta of 1.37. The company has a 50-day moving average of $41.15 and a 200 day moving average of $52.40. 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 Incorporated has a 1-year low of $32.93 and a 1-year high of $86.74.

Diodes (NASDAQ:DIOD - Get Free Report) last issued its quarterly 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. The firm had revenue of $332.11 million during the quarter, compared to analysts' expectations of $323.28 million. Diodes had a net margin of 3.36% and a return on equity of 3.28%. Diodes's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. Research analysts anticipate that Diodes Incorporated will post 1.82 EPS for the current year.

Diodes announced that its Board of Directors has authorized a share buyback program on Thursday, May 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors 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.