Vident Advisory LLC Sells 17,113 Shares of Diodes Incorporated (NASDAQ:DIOD)

Vident Advisory LLC cut its stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 57.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,468 shares of the semiconductor company's stock after selling 17,113 shares during the period. Vident Advisory LLC's holdings in Diodes were worth $769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in Diodes by 361.1% during the 3rd quarter. Barclays PLC now owns 79,799 shares of the semiconductor company's stock valued at $5,114,000 after buying an additional 62,492 shares during the last quarter. KBC Group NV raised its position in Diodes by 36.7% in the fourth quarter. KBC Group NV now owns 1,987 shares of the semiconductor company's stock valued at $123,000 after purchasing an additional 533 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Diodes by 50.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 257,633 shares of the semiconductor company's stock worth $15,795,000 after acquiring an additional 85,943 shares during the last quarter. Rhumbline Advisers increased its position in shares of Diodes by 0.6% during the fourth quarter. Rhumbline Advisers now owns 138,468 shares of the semiconductor company's stock worth $8,539,000 after acquiring an additional 838 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its stake in Diodes by 35.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 38,376 shares of the semiconductor company's stock worth $2,367,000 after purchasing an additional 9,970 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company's stock.

Wall Street Analyst Weigh In

DIOD has been the subject of several analyst reports. Baird R W upgraded Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. 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 note on Monday, April 7th. Benchmark lowered their price target on shares of Diodes from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Truist Financial decreased their price target on shares of Diodes from $63.00 to $53.00 and set a "hold" rating for the company in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.67.

Diodes Stock Down 2.3%

Shares of Diodes stock traded down $1.05 during trading on Friday, reaching $44.56. The stock had a trading volume of 58,305 shares, compared to its average volume of 427,330. The company has a current ratio of 3.26, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $41.11 and a two-hundred day moving average price of $51.92. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 46.90 and a beta of 1.37. 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 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. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The firm had revenue of $332.11 million for the quarter, compared to the consensus estimate of $323.28 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. The business's revenue was up 10.0% compared to the same quarter last year. Sell-side analysts predict that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

Diodes announced that its Board of Directors has initiated a share buyback program on Thursday, May 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is 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.