SG Americas Securities LLC Takes Position in Diodes Incorporated (NASDAQ:DIOD)

SG Americas Securities LLC bought a new stake in Diodes Incorporated (NASDAQ:DIOD) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,056 shares of the semiconductor company’s stock, valued at approximately $952,000.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its position in shares of 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 period. Quantbot Technologies LP bought a new stake in shares of Diodes in the fourth quarter valued at about $79,000. Sterling Capital Management LLC boosted its position in shares of 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 period. Xponance Inc. bought a new stake in shares of Diodes in the fourth quarter valued at about $203,000. Finally, Verdence Capital Advisors LLC bought a new stake in Diodes during the fourth quarter worth about $250,000. Institutional investors own 99.23% of the company’s stock.

Diodes Trading Up 0.8%

DIOD opened at $50.33 on Thursday. Diodes Incorporated has a twelve month low of $32.93 and a twelve month high of $86.74. The company has a 50-day simple moving average of $43.41 and a 200 day simple moving average of $50.89. The company has a quick ratio of 2.11, a current ratio of 3.43 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 91.51 and a beta of 1.42.

Diodes (NASDAQ:DIOD) last issued its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $332.11 million during the quarter, compared to the consensus estimate of $323.28 million. Diodes had a return on equity of 3.04% and a net margin of 1.90%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Analysts predict that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DIOD shares. Baird R W raised shares of Diodes from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Benchmark reaffirmed a “buy” rating and set a $62.00 price objective (up previously from $55.00) on shares of Diodes in a research report on Friday, June 13th. Finally, 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. Two investment 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, the company has a consensus rating of “Moderate Buy” and an average target price of $55.00.

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.