Teacher Retirement System of Texas bought a new stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,774 shares of the semiconductor company's stock, valued at approximately $292,000.
Several other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Diodes during the fourth quarter worth $79,000. Sterling Capital Management LLC increased its holdings in Diodes by 789.7% in 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 in the last quarter. Xponance Inc. purchased a new stake in shares of Diodes during the fourth quarter worth about $203,000. Brevan Howard Capital Management LP purchased a new stake in shares of Diodes during the fourth quarter worth about $251,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Diodes during the fourth quarter worth about $263,000. 99.23% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
DIOD has been the subject of several analyst reports. Robert W. Baird raised shares of 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. Wall Street Zen upgraded shares of Diodes from a "hold" rating to a "buy" rating in a report on Friday. Benchmark restated a "buy" rating and issued a $62.00 price objective (up from $55.00) on shares of Diodes in a report on Friday, June 13th. Finally, Baird R W upgraded shares of Diodes from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $55.00.
Get Our Latest Report on DIOD
Diodes Stock Down 0.8%
Shares of DIOD stock traded down $0.47 on Friday, hitting $54.98. The stock had a trading volume of 304,397 shares, compared to its average volume of 451,693. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 99.96 and a beta of 1.46. The stock's 50 day moving average is $50.94 and its 200-day moving average is $49.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.11 and a current ratio of 3.43. Diodes Incorporated has a 52-week low of $32.93 and a 52-week high of $84.03.
Diodes (NASDAQ:DIOD - Get Free Report) last issued 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 net margin of 1.90% and a return on equity of 3.04%. The company had revenue of $332.11 million for the quarter, compared to analysts' expectations of $323.28 million. During the same period in the prior year, the company earned $0.28 earnings per share. The firm's revenue was up 10.0% compared to the same quarter last year. As a group, research analysts expect that Diodes Incorporated will post 1.82 earnings per share for the current year.
Diodes declared that its Board of Directors has approved a stock repurchase program on Thursday, May 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.
About Diodes
(
Free Report)
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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