Y Intercept Hong Kong Ltd Acquires Shares of 4,909 Diodes Incorporated (NASDAQ:DIOD)

Y Intercept Hong Kong Ltd bought a new position in Diodes Incorporated (NASDAQ:DIOD - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,909 shares of the semiconductor company's stock, valued at approximately $212,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DIOD. Principal Financial Group Inc. lifted its stake in Diodes by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 230,728 shares of the semiconductor company's stock valued at $9,961,000 after acquiring an additional 5,931 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Diodes by 19.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 18,768 shares of the semiconductor company's stock valued at $810,000 after purchasing an additional 3,092 shares during the last quarter. GAMMA Investing LLC lifted its position in Diodes by 4,211.7% during the first 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. SG Americas Securities LLC bought a new position in Diodes during the first quarter valued at approximately $952,000. Finally, Vanguard Group Inc. boosted its holdings in Diodes by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 5,910,766 shares of the semiconductor company's stock worth $364,517,000 after purchasing an additional 102,263 shares during the last quarter. Institutional investors own 99.23% of the company's stock.

Diodes Stock Performance

DIOD traded down $0.46 during midday trading on Friday, reaching $48.91. The company had a trading volume of 552,177 shares, compared to its average volume of 372,044. The business has a 50-day moving average of $51.76 and a two-hundred day moving average of $48.78. The company has a quick ratio of 2.11, a current ratio of 3.43 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a 1 year low of $32.93 and a 1 year high of $72.76. The company has a market cap of $2.27 billion, a P/E ratio of 88.93 and a beta of 1.47.

Diodes (NASDAQ:DIOD - Get Free Report) last released its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Diodes had a net margin of 1.90% and a return on equity of 3.04%. The company had revenue of $332.11 million during the quarter, compared to analyst estimates of $323.28 million. During the same period in the prior year, the firm posted $0.28 EPS. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts predict that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Diodes announced that its board has approved a share buyback plan on Thursday, May 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Diodes from a "hold" rating to a "buy" rating in a research note on Sunday. Robert W. Baird upgraded shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 target price for the company in a research report on Monday, April 7th. Benchmark reaffirmed a "buy" rating and set a $62.00 target price (up from $55.00) on shares of Diodes in a report on Friday, June 13th. Finally, Baird R W upgraded shares of Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $55.00.

About Diodes

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.