Victory Capital Management Inc. Reduces Holdings in Diodes Incorporated (NASDAQ:DIOD)

Victory Capital Management Inc. cut its holdings in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 32.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,291,540 shares of the semiconductor company's stock after selling 615,969 shares during the period. Victory Capital Management Inc. owned approximately 2.78% of Diodes worth $55,756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in Diodes by 170.1% in the 1st quarter. Signaturefd LLC now owns 597 shares of the semiconductor company's stock valued at $26,000 after buying an additional 376 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Diodes by 10.2% in the 1st quarter. New York State Common Retirement Fund now owns 35,075 shares of the semiconductor company's stock worth $1,514,000 after purchasing an additional 3,250 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Diodes by 1.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 15,696 shares of the semiconductor company's stock worth $678,000 after purchasing an additional 297 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Diodes by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 230,728 shares of the semiconductor company's stock worth $9,961,000 after purchasing an additional 5,931 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Diodes in the 1st quarter worth approximately $292,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

Diodes Stock Down 0.8%

Shares of NASDAQ:DIOD traded down $0.47 during trading on Friday, hitting $54.98. The company's stock had a trading volume of 304,397 shares, compared to its average volume of 451,693. The business has a 50 day moving average price of $50.94 and a two-hundred day moving average price of $49.55. The company has a market capitalization of $2.55 billion, a PE ratio of 99.96 and a beta of 1.46. 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 fifty-two week low of $32.93 and a fifty-two 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 EPS 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 the consensus estimate of $323.28 million. Diodes had a net margin of 1.90% and a return on equity of 3.04%. The company's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, research analysts expect that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

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

Analyst Ratings Changes

Several analysts have recently commented on DIOD shares. Robert W. Baird raised shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price target on the stock in a research report on Monday, April 7th. Wall Street Zen raised shares of Diodes from a "hold" rating to a "buy" rating in a research report on Friday. Benchmark reaffirmed a "buy" rating and set a $62.00 price target (up previously from $55.00) on shares of Diodes in a research 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 equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Diodes currently has a consensus rating of "Buy" and a consensus target price of $55.00.

Diodes 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.