Teacher Retirement System of Texas Takes Position in Diodes Incorporated (NASDAQ:DIOD)

Teacher Retirement System of Texas purchased a new stake in Diodes Incorporated (NASDAQ:DIOD) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,774 shares of the semiconductor company’s stock, valued at approximately $292,000.

Several other hedge funds have also made changes to their positions in DIOD. Pitcairn Co. boosted its position in shares of Diodes by 4.2% during the 4th quarter. Pitcairn Co. now owns 5,208 shares of the semiconductor company’s stock worth $321,000 after purchasing an additional 208 shares during the period. Summit Investment Advisors Inc. lifted its stake in Diodes by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,772 shares of the semiconductor company’s stock worth $294,000 after purchasing an additional 262 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Diodes by 5.4% in the 1st quarter. QRG Capital Management Inc. now owns 6,290 shares of the semiconductor company’s stock valued at $272,000 after buying an additional 323 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Diodes by 1.0% in the 4th quarter. Corient Private Wealth LLC now owns 32,505 shares of the semiconductor company’s stock valued at $2,005,000 after buying an additional 328 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in Diodes by 4.1% during the 4th quarter. HighTower Advisors LLC now owns 8,501 shares of the semiconductor company’s stock worth $524,000 after buying an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Diodes Price Performance

Shares of DIOD opened at $54.98 on Friday. Diodes Incorporated has a twelve month low of $32.93 and a twelve month high of $84.03. The firm’s fifty day simple moving average is $50.94 and its 200-day simple moving average is $49.64. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 99.96 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 (NASDAQ:DIOD) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Diodes had a net margin of 1.90% and a return on equity of 3.04%. The business had revenue of $332.11 million for the quarter, compared to analyst estimates of $323.28 million. During the same period last year, the business earned $0.28 EPS. The company’s revenue was up 10.0% on a year-over-year basis. Equities analysts forecast that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

DIOD has been the topic of a number of research reports. Baird R W upgraded shares of Diodes from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Benchmark reiterated a “buy” rating and set a $62.00 target price (up from $55.00) on shares of Diodes in a report on Friday, June 13th. Robert W. Baird upgraded shares of Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, April 7th. Finally, Wall Street Zen upgraded shares of Diodes from a “hold” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Diodes presently has a consensus rating of “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.