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

Victory Capital Management Inc. decreased its stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 32.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,291,540 shares of the semiconductor company's stock after selling 615,969 shares during the quarter. 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 institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pitcairn Co. boosted its holdings in shares of Diodes by 4.2% in the 4th quarter. Pitcairn Co. now owns 5,208 shares of the semiconductor company's stock valued at $321,000 after acquiring an additional 208 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Diodes by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,772 shares of the semiconductor company's stock valued at $294,000 after acquiring an additional 262 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Diodes by 1.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 15,696 shares of the semiconductor company's stock valued at $678,000 after acquiring an additional 297 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Diodes by 5.4% in the 1st quarter. QRG Capital Management Inc. now owns 6,290 shares of the semiconductor company's stock valued at $272,000 after acquiring an additional 323 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Diodes by 1.0% in the 4th quarter. Corient Private Wealth LLC now owns 32,505 shares of the semiconductor company's stock valued at $2,005,000 after acquiring an additional 328 shares during the last quarter. Institutional investors own 99.23% of the company's stock.

Diodes Stock Down 1.6%

Shares of DIOD stock traded down $0.88 during trading on Tuesday, hitting $54.38. 321,438 shares of the company were exchanged, compared to its average volume of 450,171. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 98.87 and a beta of 1.46. The business's 50-day simple moving average is $50.94 and its 200 day simple moving average is $49.47. 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 twelve month low of $32.93 and a twelve month high of $84.03.

Diodes (NASDAQ:DIOD - Get Free Report) last posted 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 for 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 business's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 earnings per share. As a group, analysts forecast that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

Diodes declared that its board has authorized a stock buyback 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 buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DIOD shares. Baird R W raised shares of Diodes from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Wall Street Zen raised shares of Diodes from a "hold" rating to a "buy" rating in a report on Friday. Robert W. Baird raised shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a report on Monday, April 7th. Finally, Benchmark reaffirmed a "buy" rating and set a $62.00 price objective (up from $55.00) on shares of Diodes in a report on Friday, June 13th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Diodes presently has a consensus rating of "Buy" and a consensus price target 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.