Ameriprise Financial Inc. Boosts Position in Diodes Incorporated (NASDAQ:DIOD)

Ameriprise Financial Inc. raised its position in Diodes Incorporated (NASDAQ:DIOD) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 170,226 shares of the semiconductor company’s stock after purchasing an additional 5,660 shares during the period. Ameriprise Financial Inc. owned about 0.37% of Diodes worth $10,498,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Pitcairn Co. increased its holdings in Diodes by 4.2% during the 4th quarter. Pitcairn Co. now owns 5,208 shares of the semiconductor company’s stock valued at $321,000 after acquiring an additional 208 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of Diodes by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,772 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 262 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Diodes by 1.0% during the 4th quarter. Corient Private Wealth LLC now owns 32,505 shares of the semiconductor company’s stock worth $2,005,000 after purchasing an additional 328 shares during the last quarter. HighTower Advisors LLC lifted its stake in Diodes by 4.1% in the 4th quarter. HighTower Advisors LLC now owns 8,501 shares of the semiconductor company’s stock valued at $524,000 after buying an additional 335 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in Diodes by 6.4% during the fourth quarter. Sanctuary Advisors LLC now owns 7,087 shares of the semiconductor company’s stock worth $414,000 after buying an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Analyst Upgrades and Downgrades

DIOD has been the subject of a number of analyst reports. Robert W. Baird raised shares of Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Monday, April 7th. Benchmark decreased their price objective on Diodes from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Baird R W raised Diodes from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Finally, Truist Financial dropped their target price on Diodes from $63.00 to $53.00 and set a “hold” rating for the company in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat, Diodes currently has a consensus rating of “Moderate Buy” and an average price target of $52.67.

Diodes Price Performance

DIOD stock opened at $47.74 on Tuesday. The stock has a 50-day moving average price of $41.14 and a two-hundred day moving average price of $52.68. The company has a market cap of $2.22 billion, a PE ratio of 50.25 and a beta of 1.37. The company has a current ratio of 3.26, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a 12-month low of $32.93 and a 12-month high of $86.74.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $332.11 million for the quarter, compared to analysts’ expectations of $323.28 million. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, research analysts predict that Diodes Incorporated will post 1.82 EPS for the current year.

Diodes declared that its Board of Directors has initiated a share buyback plan on Thursday, May 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is 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.