Schonfeld Strategic Advisors LLC acquired a new position in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,089 shares of the semiconductor company's stock, valued at approximately $499,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Diodes by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 226,742 shares of the semiconductor company's stock worth $14,532,000 after purchasing an additional 58,597 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Diodes by 198.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company's stock valued at $48,000 after buying an additional 522 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Diodes in the 4th quarter worth approximately $970,000. Vanguard Group Inc. boosted 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 worth $364,517,000 after buying an additional 102,263 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Diodes during the fourth quarter valued at approximately $7,063,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.
Diodes Stock Performance
Shares of NASDAQ:DIOD opened at $44.91 on Friday. The company has a current ratio of 3.26, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $41.09 and a 200-day moving average price of $53.34. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 47.27 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The firm 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 EPS. The business's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts anticipate that Diodes Incorporated will post 1.82 EPS for the current year.
Diodes announced that its Board of Directors has approved a stock buyback program on Thursday, May 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. 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 Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Monday, April 7th. Benchmark lowered their target price on Diodes from $74.00 to $65.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. Finally, Truist Financial reduced their price target on Diodes from $63.00 to $53.00 and set a "hold" rating on the stock in a research report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Diodes currently has a consensus rating of "Moderate Buy" and an average price target of $56.00.
Check Out Our Latest Stock Analysis on DIOD
Diodes Profile
(
Free Report)
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.
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