Wedge Capital Management L L P NC Lowers Holdings in Diodes Incorporated (NASDAQ:DIOD)

Wedge Capital Management L L P NC cut its holdings in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 37.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,355 shares of the semiconductor company's stock after selling 25,195 shares during the period. Wedge Capital Management L L P NC owned 0.09% of Diodes worth $1,785,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in Diodes by 4,211.7% in the 1st quarter. GAMMA Investing LLC now owns 35,313 shares of the semiconductor company's stock valued at $1,524,000 after purchasing an additional 34,494 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Diodes by 26.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 98,011 shares of the semiconductor company's stock valued at $6,044,000 after buying an additional 20,513 shares during the period. Sovereign s Capital Management LLC purchased a new position in Diodes during the fourth quarter worth about $2,460,000. Squarepoint Ops LLC increased its stake in Diodes by 24.3% in the 4th quarter. Squarepoint Ops LLC now owns 25,288 shares of the semiconductor company's stock worth $1,560,000 after acquiring an additional 4,943 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Diodes in the 4th quarter valued at about $347,000. Institutional investors own 99.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Diodes from $63.00 to $53.00 and set a "hold" rating for the company in a research report on Wednesday, February 12th. Benchmark dropped their price objective on shares of Diodes from $65.00 to $55.00 and set a "buy" rating for the company in a report on Monday, May 12th. Robert W. Baird raised 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. Finally, Baird R W upgraded Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Diodes currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.67.

Diodes Trading Up 0.1%

Shares of DIOD traded up $0.04 during trading hours on Thursday, hitting $50.96. The company had a trading volume of 493,070 shares, compared to its average volume of 436,118. Diodes Incorporated has a 52-week low of $32.93 and a 52-week high of $86.74. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average price is $42.36 and its 200 day moving average price is $51.30. The firm has a market cap of $2.36 billion, a P/E ratio of 53.64 and a beta of 1.42.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The business had revenue of $332.11 million for the quarter, compared to analyst estimates of $323.28 million. Diodes had a net margin of 3.36% and a return on equity of 3.28%. The company's revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. On average, research analysts predict that Diodes Incorporated will post 1.82 EPS for the current year.

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

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.