XTX Topco Ltd Makes New Investment in Diodes Incorporated (NASDAQ:DIOD)

Key Points

• XTX Topco Ltd acquired a new stake in Diodes Incorporated (NASDAQ:DIOD) worth approximately $397,000 by purchasing 9,207 shares in the 1st quarter.
• Diodes reported a 14.5% increase in quarterly revenue year-over-year, with earnings surpassing analysts' expectations, showing $0.32 EPS against a consensus estimate of $0.24.
• The company's Board of Directors initiated a $100 million stock buyback program, indicating confidence in the stock's value and a plan to buy back up to 5.4% of its shares.

XTX Topco Ltd bought a new stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 9,207 shares of the semiconductor company's stock, valued at approximately $397,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. LPL Financial LLC increased its holdings in shares of Diodes by 20.6% in the 4th quarter. LPL Financial LLC now owns 45,094 shares of the semiconductor company's stock valued at $2,755,000 after acquiring an additional 7,697 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Diodes by 55.9% in the 4th quarter. JPMorgan Chase & Co. now owns 353,595 shares of the semiconductor company's stock valued at $21,806,000 after acquiring an additional 126,853 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Diodes by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,283,794 shares of the semiconductor company's stock valued at $79,186,000 after acquiring an additional 17,742 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Diodes by 43.3% in the 4th quarter. Russell Investments Group Ltd. now owns 66,163 shares of the semiconductor company's stock valued at $4,080,000 after acquiring an additional 20,005 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Diodes by 2.0% in the 4th quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company's stock valued at $363,977,000 after acquiring an additional 116,872 shares during the last quarter. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Diodes Stock Performance

NASDAQ:DIOD traded up $2.61 during midday trading on Tuesday, reaching $53.44. 531,578 shares of the company traded hands, compared to its average volume of 514,408. Diodes Incorporated has a twelve month low of $32.93 and a twelve month high of $72.76. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 39.00 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.33 and a quick ratio of 2.04. The company has a fifty day moving average price of $52.24 and a 200 day moving average price of $48.18.

Diodes (NASDAQ:DIOD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.08. Diodes had a return on equity of 2.98% and a net margin of 4.59%. The business had revenue of $366.20 million during the quarter, compared to analyst estimates of $352.08 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The business's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, analysts expect that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

Diodes declared that its Board of Directors has initiated a share buyback program 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 programs are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Diodes from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Benchmark reiterated a "buy" rating and issued a $62.00 price target (up from $55.00) on shares of Diodes in a report on Friday, June 13th. One 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 MarketBeat, the stock currently has an average 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.