Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in Diodes Incorporated (NASDAQ:DIOD)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Diodes Incorporated (NASDAQ:DIOD) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,725 shares of the semiconductor company’s stock after purchasing an additional 856 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Diodes were worth $549,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Signaturefd LLC raised its stake in Diodes by 170.1% in the first quarter. Signaturefd LLC now owns 597 shares of the semiconductor company’s stock worth $26,000 after buying an additional 376 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Diodes by 789.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 1,145 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in Diodes in the fourth quarter worth approximately $251,000. Summit Investment Advisors Inc. boosted its holdings in Diodes by 5.8% in 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 during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Diodes during the 1st quarter worth $212,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Diodes Stock Performance

Diodes stock opened at $47.17 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.11 and a current ratio of 3.43. The company has a market capitalization of $2.19 billion, a PE ratio of 85.76 and a beta of 1.47. The company has a 50 day moving average price of $51.98 and a 200-day moving average price of $48.53. Diodes Incorporated has a fifty-two week low of $32.93 and a fifty-two week high of $72.76.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Thursday, August 7th. The semiconductor company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.08. Diodes had a net margin of 1.90% and a return on equity of 3.04%. The firm had revenue of $366.20 million during the quarter, compared to analysts’ expectations of $352.08 million. During the same quarter in the prior year, the company earned $0.33 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current year.

Diodes declared that its Board of Directors has initiated a share buyback plan on Thursday, May 8th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Diodes from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. Benchmark restated a “buy” rating and issued a $62.00 target price (up from $55.00) on shares of Diodes in a report on Friday, June 13th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. 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.