First Trust Advisors LP Increases Holdings in Diodes Incorporated (NASDAQ:DIOD)

First Trust Advisors LP increased its holdings in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 45.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,028 shares of the semiconductor company's stock after buying an additional 17,913 shares during the period. First Trust Advisors LP owned about 0.12% of Diodes worth $3,517,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in Diodes by 34.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 226,742 shares of the semiconductor company's stock worth $14,532,000 after buying an additional 58,597 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Diodes by 198.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company's stock worth $48,000 after acquiring an additional 522 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Diodes during the 4th quarter worth approximately $970,000. Vanguard Group Inc. lifted its stake in Diodes by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 5,910,766 shares of the semiconductor company's stock valued at $364,517,000 after purchasing an additional 102,263 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Diodes in the fourth quarter valued at $7,063,000. Institutional investors own 99.23% of the company's stock.

Diodes Trading Up 9.8 %

Shares of Diodes stock traded up $3.91 during midday trading on Friday, reaching $43.84. 410,368 shares of the company's stock traded hands, compared to its average volume of 419,697. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26. The stock has a 50 day moving average of $41.16 and a 200-day moving average of $53.54. The company has a market cap of $2.04 billion, a PE ratio of 46.15 and a beta of 1.37. Diodes Incorporated has a 12 month low of $32.93 and a 12 month high of $86.74.

Diodes (NASDAQ:DIOD - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Diodes had a net margin of 3.36% and a return on equity of 3.28%. The business had revenue of $332.11 million during the quarter, compared to analyst estimates of $323.28 million. During the same period last year, the business posted $0.28 earnings per share. Diodes's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts expect 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 allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently commented on DIOD. Baird R W raised shares of Diodes from a "hold" rating to a "strong-buy" rating in a 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 price target for the company in a research note on Monday, April 7th. Truist Financial lowered their price objective on shares of Diodes from $63.00 to $53.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. Finally, Benchmark decreased their price objective on Diodes from $74.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Diodes presently has an average rating of "Moderate Buy" and an average target price of $56.00.

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.