Yousif Capital Management LLC Sells 445 Shares of Diodes Incorporated (NASDAQ:DIOD)

Yousif Capital Management LLC lowered its position in Diodes Incorporated (NASDAQ:DIOD) by 2.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,122 shares of the semiconductor company’s stock after selling 445 shares during the quarter. Yousif Capital Management LLC’s holdings in Diodes were worth $739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of Diodes by 0.6% in the fourth quarter. Rhumbline Advisers now owns 138,468 shares of the semiconductor company’s stock valued at $8,539,000 after purchasing an additional 838 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Diodes by 35.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 38,376 shares of the semiconductor company’s stock worth $2,367,000 after acquiring an additional 9,970 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Diodes by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 224,797 shares of the semiconductor company’s stock valued at $13,863,000 after purchasing an additional 6,307 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of Diodes by 6.4% in the 4th quarter. Sanctuary Advisors LLC now owns 7,087 shares of the semiconductor company’s stock valued at $414,000 after purchasing an additional 425 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Diodes during the fourth quarter worth about $283,000. Institutional investors own 99.23% of the company’s stock.

Diodes Stock Up 0.8%

Shares of NASDAQ DIOD opened at $50.33 on Friday. The company has a 50-day moving average price of $43.70 and a 200-day moving average price of $50.78. Diodes Incorporated has a 1 year low of $32.93 and a 1 year high of $86.74. The stock has a market capitalization of $2.34 billion, a P/E ratio of 91.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.43 and a quick ratio of 2.11.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $332.11 million for the quarter, compared to analysts’ expectations of $323.28 million. Diodes had a return on equity of 3.04% and a net margin of 1.90%. The business’s 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. On average, equities research analysts forecast that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

Diodes declared that its Board of Directors has approved a share repurchase plan on Thursday, May 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DIOD. Robert W. Baird upgraded Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Monday, April 7th. Baird R W upgraded shares of Diodes from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Finally, Benchmark reissued a “buy” rating and issued a $62.00 price target (up from $55.00) on shares of Diodes in a research note on Friday, June 13th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.00.

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.