Zions Bancorporation National Association UT Makes New $1.56 Million Investment in Diodes Incorporated (NASDAQ:DIOD)

Key Points

• Zions Bancorporation National Association UT has acquired a new stake in Diodes Incorporated, purchasing 36,060 shares valued at approximately $1,557,000 during the 1st quarter.
• Analysts have upgraded Diodes, with Benchmark setting a new price target of $62.00, while earnings reports show a quarterly revenue of $366.20 million, surpassing expectations.
• Diodes has initiated a $100 million stock buyback program, signaling the board's belief that the stock is undervalued.

Zions Bancorporation National Association UT bought a new stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,060 shares of the semiconductor company's stock, valued at approximately $1,557,000. Zions Bancorporation National Association UT owned approximately 0.08% of Diodes at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in Diodes by 2.6% in the first quarter. Principal Financial Group Inc. now owns 230,728 shares of the semiconductor company's stock valued at $9,961,000 after buying an additional 5,931 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Diodes by 19.7% in 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 in the last quarter. GAMMA Investing LLC increased its stake in Diodes by 4,211.7% in 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 in the last quarter. SG Americas Securities LLC bought a new stake in Diodes in the first quarter valued at $952,000. Finally, QRG Capital Management Inc. increased its stake in Diodes by 5.4% in the first quarter. QRG Capital Management Inc. now owns 6,290 shares of the semiconductor company's stock valued at $272,000 after purchasing an additional 323 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company's stock.

Diodes Price Performance

Diodes stock traded down $1.23 during midday trading on Thursday, reaching $53.59. 88,964 shares of the stock were exchanged, compared to its average volume of 512,416. The company's fifty day moving average is $52.52 and its 200-day moving average is $48.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.04 and a current ratio of 3.33. The firm has a market cap of $2.49 billion, a PE ratio of 39.05 and a beta of 1.47. Diodes Incorporated has a 52 week low of $32.93 and a 52 week high of $72.76.

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

Diodes declared that its Board of Directors has initiated a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DIOD has been the subject of several research analyst reports. Wall Street Zen raised shares of Diodes from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Benchmark reissued a "buy" rating and set a $62.00 target price (up from $55.00) on shares of Diodes in a research report on Friday, June 13th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus 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.