Janney Montgomery Scott LLC Trims Stock Position in Diodes Incorporated (NASDAQ:DIOD)

Janney Montgomery Scott LLC lessened its stake in Diodes Incorporated (NASDAQ:DIOD) by 9.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,444 shares of the semiconductor company’s stock after selling 542 shares during the period. Janney Montgomery Scott LLC’s holdings in Diodes were worth $235,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DIOD. GAMMA Investing LLC raised its position in shares of Diodes by 4,211.7% in the first quarter. GAMMA Investing LLC now owns 35,313 shares of the semiconductor company’s stock worth $1,524,000 after acquiring an additional 34,494 shares during the period. SG Americas Securities LLC acquired a new stake in Diodes in the 1st quarter valued at $952,000. Smartleaf Asset Management LLC lifted its holdings in Diodes by 198.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 522 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Diodes by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 5,910,766 shares of the semiconductor company’s stock worth $364,517,000 after buying an additional 102,263 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Diodes during the fourth quarter valued at approximately $970,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DIOD shares. Baird R W upgraded shares of Diodes from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Benchmark reissued a “buy” rating and set a $62.00 price objective (up previously from $55.00) on shares of Diodes in a research note on Friday, June 13th. Finally, Robert W. Baird upgraded Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.00.

Diodes Trading Up 1.4%

NASDAQ:DIOD opened at $57.50 on Monday. The firm has a market cap of $2.67 billion, a P/E ratio of 104.54 and a beta of 1.46. The company has a current ratio of 3.43, a quick ratio of 2.11 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. The stock’s 50 day simple moving average is $47.69 and its 200-day simple moving average is $49.92.

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

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

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.