Diodes Incorporated (NASDAQ:DIOD) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its position in Diodes Incorporated (NASDAQ:DIOD) by 27.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,926 shares of the semiconductor company’s stock after buying an additional 31,443 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Diodes worth $6,343,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC raised 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 buying an additional 376 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Diodes by 789.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company’s stock valued at $80,000 after buying an additional 1,145 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Diodes in the first quarter valued at approximately $212,000. Integrated Investment Consultants LLC acquired a new position in shares of Diodes in the first quarter valued at approximately $227,000. Finally, First National Advisers LLC acquired a new position in shares of Diodes in the first quarter valued at approximately $236,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

Diodes Price Performance

Diodes stock opened at $52.75 on Friday. Diodes Incorporated has a 1 year low of $32.93 and a 1 year high of $72.76. The firm has a 50 day moving average price of $52.71 and a 200 day moving average price of $48.19. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 38.50 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.04 and a current ratio of 3.33.

Diodes (NASDAQ:DIOD) last released its earnings results on Thursday, August 7th. The semiconductor company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. Diodes had a net margin of 4.59% and a return on equity of 2.98%. The firm had revenue of $366.20 million during the quarter, compared to the consensus estimate of $352.08 million. During the same period in the previous year, the firm earned $0.33 earnings per share. Diodes’s revenue was up 14.5% compared to the same quarter last year. Sell-side analysts predict that Diodes Incorporated will post 1.82 earnings per share for the current year.

Diodes announced that its board has initiated a stock repurchase program on Thursday, May 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DIOD shares. Benchmark reissued a “buy” rating and issued a $62.00 price objective (up previously from $55.00) on shares of Diodes in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Diodes from a “hold” rating to a “buy” rating in a report on Sunday, August 3rd. Finally, Zacks Research upgraded shares of Diodes to a “strong sell” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Diodes Company 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.