IFP Advisors Inc Cuts Stock Holdings in Diodes Incorporated (NASDAQ:DIOD)

IFP Advisors Inc reduced its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 75.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,505 shares of the semiconductor company’s stock after selling 7,569 shares during the quarter. IFP Advisors Inc’s holdings in Diodes were worth $108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pitcairn Co. grew its position in Diodes by 4.2% during the fourth quarter. Pitcairn Co. now owns 5,208 shares of the semiconductor company’s stock worth $321,000 after buying an additional 208 shares during the period. Summit Investment Advisors Inc. grew its position 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 buying an additional 262 shares during the period. Nisa Investment Advisors LLC grew its position in Diodes by 1.9% during the first quarter. Nisa Investment Advisors LLC now owns 15,696 shares of the semiconductor company’s stock worth $678,000 after buying an additional 297 shares during the period. QRG Capital Management Inc. grew its position in Diodes by 5.4% during the first quarter. QRG Capital Management Inc. now owns 6,290 shares of the semiconductor company’s stock worth $272,000 after buying an additional 323 shares during the period. Finally, Signaturefd LLC grew its position in shares of Diodes by 170.1% in the first quarter. Signaturefd LLC now owns 597 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 376 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on DIOD shares. Robert W. Baird upgraded shares of Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Monday, April 7th. Wall Street Zen lowered shares of Diodes from a “buy” rating to a “hold” rating in a research report on Saturday. Benchmark reiterated a “buy” rating and issued a $62.00 price target (up from $55.00) on shares of Diodes in a research report on Friday, June 13th. Finally, Baird R W upgraded shares of Diodes from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.00.

Diodes Stock Down 0.5%

DIOD stock opened at $51.60 on Wednesday. Diodes Incorporated has a 12 month low of $32.93 and a 12 month high of $80.07. The company’s 50 day simple moving average is $51.53 and its 200-day simple moving average is $48.99. The firm has a market capitalization of $2.39 billion, a PE ratio of 93.82 and a beta of 1.46. 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 announced 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 net margin of 1.90% and a return on equity of 3.04%. The firm had revenue of $332.11 million for the quarter, compared to analyst estimates of $323.28 million. During the same quarter last year, the business earned $0.28 earnings per share. Diodes’s revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Diodes announced that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.