Mercer Global Advisors Inc. ADV Sells 1,396 Shares of Diodes Incorporated (NASDAQ:DIOD)

Mercer Global Advisors Inc. ADV cut its holdings in shares of Diodes Incorporated (NASDAQ:DIOD) by 26.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,812 shares of the semiconductor company’s stock after selling 1,396 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Diodes were worth $235,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DIOD. Smartleaf Asset Management LLC increased its stake in Diodes by 198.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock valued at $48,000 after acquiring an additional 522 shares during the last quarter. Quantbot Technologies LP bought a new position in Diodes in the fourth quarter valued at approximately $79,000. Sterling Capital Management LLC increased its stake in Diodes by 789.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company’s stock valued at $80,000 after acquiring an additional 1,145 shares during the last quarter. KBC Group NV increased its stake in Diodes by 36.7% in the fourth quarter. KBC Group NV now owns 1,987 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 533 shares during the last quarter. Finally, Xponance Inc. bought a new position in Diodes in the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DIOD. Robert W. Baird raised shares of 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 decreased their price objective on shares of Diodes from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Truist Financial cut their target price 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, Baird R W upgraded shares of Diodes from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $52.67.

Diodes Stock Performance

Shares of Diodes stock opened at $48.62 on Friday. Diodes Incorporated has a fifty-two week low of $32.93 and a fifty-two week high of $86.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 1.99. The firm has a market capitalization of $2.26 billion, a P/E ratio of 51.18 and a beta of 1.37. The company’s 50 day moving average price is $41.13 and its two-hundred day moving average price is $52.87.

Diodes (NASDAQ:DIOD) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $332.11 million for the quarter, compared to analyst estimates of $323.28 million. Diodes had a net margin of 3.36% and a return on equity of 3.28%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. On average, equities analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Diodes declared that its Board of Directors has approved a share repurchase program on Thursday, May 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.