Diodes Incorporated (NASDAQ:DIOD) Shares Acquired by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC boosted its stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 14.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 552,054 shares of the semiconductor company's stock after purchasing an additional 68,823 shares during the quarter. Frontier Capital Management Co. LLC owned about 1.19% of Diodes worth $34,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Deutsche Bank AG increased its stake in shares of Diodes by 40.1% in the fourth quarter. Deutsche Bank AG now owns 44,314 shares of the semiconductor company's stock worth $2,733,000 after buying an additional 12,683 shares during the period. Brevan Howard Capital Management LP bought a new stake in Diodes during the fourth quarter worth about $251,000. Ameriprise Financial Inc. increased its position in Diodes by 3.4% during the 4th quarter. Ameriprise Financial Inc. now owns 170,226 shares of the semiconductor company's stock valued at $10,498,000 after buying an additional 5,660 shares in the last quarter. Comerica Bank raised its position in shares of Diodes by 17.8% in the 4th quarter. Comerica Bank now owns 49,727 shares of the semiconductor company's stock worth $3,067,000 after purchasing an additional 7,499 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Diodes during the 4th quarter valued at $499,000. 99.23% of the stock is currently owned by institutional investors.

Diodes Stock Performance

Shares of NASDAQ:DIOD traded down $0.80 during trading on Wednesday, hitting $47.75. The stock had a trading volume of 279,175 shares, compared to its average volume of 422,224. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 50.26 and a beta of 1.37. Diodes Incorporated has a 12-month low of $32.93 and a 12-month high of $86.74. The stock has a 50-day simple moving average of $41.03 and a two-hundred day simple moving average of $53.11. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01.

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, beating the consensus estimate of $0.18 by $0.01. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The company had revenue of $332.11 million for the quarter, compared to analyst estimates of $323.28 million. During the same period last year, the company earned $0.28 earnings per share. Diodes's quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Diodes declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on DIOD shares. Truist Financial cut their price target on Diodes from $63.00 to $53.00 and set a "hold" rating for the company in a 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. Baird R W upgraded shares of Diodes from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Finally, Robert W. Baird upgraded Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 target price for the company in a report on Monday, April 7th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Diodes has an average rating of "Moderate Buy" and a consensus price target of $52.67.

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.