Bayforest Capital Ltd Acquires New Stake in Diodes Incorporated (NASDAQ:DIOD)

Bayforest Capital Ltd bought a new position in Diodes Incorporated (NASDAQ:DIOD) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,029 shares of the semiconductor company’s stock, valued at approximately $260,000.

A number of other large investors have also bought and sold shares of DIOD. Principal Financial Group Inc. boosted its stake in Diodes by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 230,728 shares of the semiconductor company’s stock worth $9,961,000 after purchasing an additional 5,931 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Diodes by 19.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 18,768 shares of the semiconductor company’s stock worth $810,000 after buying an additional 3,092 shares in the last quarter. GAMMA Investing LLC boosted 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 valued at $1,524,000 after acquiring an additional 34,494 shares during the period. SG Americas Securities LLC purchased a new position in Diodes during the first quarter valued at approximately $952,000. Finally, QRG Capital Management Inc. increased its holdings in Diodes by 5.4% during the 1st quarter. QRG Capital Management Inc. now owns 6,290 shares of the semiconductor company’s stock worth $272,000 after acquiring an additional 323 shares during the period. 99.23% of the stock is owned by hedge funds and other institutional investors.

Diodes Stock Down 0.9%

DIOD opened at $48.91 on Friday. The business’s fifty day simple moving average is $51.76 and its 200 day simple moving average is $48.86. Diodes Incorporated has a 52 week low of $32.93 and a 52 week high of $72.76. 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 cap of $2.27 billion, a PE ratio of 88.93 and a beta of 1.47.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings data 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. The firm had revenue of $332.11 million during 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 company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. As a group, research analysts expect that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

DIOD has been the topic of several research analyst reports. Wall Street Zen cut shares of Diodes from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Robert W. Baird upgraded Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a research note on Monday, April 7th. Baird R W raised Diodes from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Finally, Benchmark reissued a “buy” rating and set a $62.00 price objective (up previously from $55.00) on shares of Diodes in a report on Friday, June 13th. Two equities research 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 company’s stock. Based on data from MarketBeat, Diodes presently has a consensus rating of “Moderate Buy” and a consensus 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.