Diodes Incorporated (NASDAQ:DIOD) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its position in Diodes Incorporated (NASDAQ:DIOD) by 13.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,400 shares of the semiconductor company’s stock after selling 955 shares during the quarter. Cetera Investment Advisers’ holdings in Diodes were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Brevan Howard Capital Management LP acquired a new position in shares of Diodes in the 4th quarter valued at $251,000. Ameriprise Financial Inc. grew 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 worth $10,498,000 after purchasing an additional 5,660 shares during the last quarter. Comerica Bank increased its stake in Diodes by 17.8% in the fourth quarter. Comerica Bank now owns 49,727 shares of the semiconductor company’s stock valued at $3,067,000 after purchasing an additional 7,499 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in Diodes in the fourth quarter valued at $499,000. Finally, Northern Trust Corp raised its holdings in shares of Diodes by 9.5% in the fourth quarter. Northern Trust Corp now owns 570,564 shares of the semiconductor company’s stock valued at $35,187,000 after buying an additional 49,377 shares during the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

Diodes Trading Down 2.2%

NASDAQ DIOD opened at $45.59 on Thursday. The company has a quick ratio of 1.99, a current ratio of 3.26 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.12 billion, a P/E ratio of 47.99 and a beta of 1.37. Diodes Incorporated has a 52-week low of $32.93 and a 52-week high of $86.74. The firm has a 50-day moving average price of $41.13 and a 200 day moving average price of $52.03.

Diodes (NASDAQ:DIOD) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share (EPS) 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 business had revenue of $332.11 million during the quarter, compared to the consensus estimate of $323.28 million. During the same period in the prior year, the business posted $0.28 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts expect that Diodes Incorporated will post 1.82 EPS for the current year.

Diodes announced that its Board of Directors has approved a stock buyback plan on Thursday, May 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DIOD. Benchmark dropped their price target on Diodes from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Baird R W raised Diodes from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Truist Financial cut their price target on Diodes from $63.00 to $53.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th. Finally, Robert W. Baird upgraded shares of Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, April 7th. Two equities research 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. Based on data from MarketBeat.com, Diodes presently has a consensus rating of “Moderate Buy” and an average price target of $52.67.

About Diodes

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.