Deutsche Bank AG Increases Stock Position in Diodes Incorporated (NASDAQ:DIOD)

Deutsche Bank AG boosted its position in shares of Diodes Incorporated (NASDAQ:DIOD) by 40.1% in the fourth quarter, HoldingsChannel reports. The fund owned 44,314 shares of the semiconductor company’s stock after purchasing an additional 12,683 shares during the quarter. Deutsche Bank AG’s holdings in Diodes were worth $2,733,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Hood River Capital Management LLC acquired a new stake in shares of Diodes in the fourth quarter worth $72,037,000. Norges Bank acquired a new stake in shares of Diodes in the fourth quarter valued at about $33,933,000. Dimensional Fund Advisors LP lifted its stake in shares of Diodes by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company’s stock worth $138,053,000 after buying an additional 168,545 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Diodes by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,907,509 shares of the semiconductor company’s stock worth $117,636,000 after buying an additional 163,374 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Diodes by 55.9% in the fourth quarter. JPMorgan Chase & Co. now owns 353,595 shares of the semiconductor company’s stock worth $21,806,000 after buying an additional 126,853 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

Diodes Stock Down 1.8%

DIOD stock opened at $47.10 on Thursday. The company has a fifty day moving average price of $41.20 and a 200 day moving average price of $52.61. Diodes Incorporated has a 12 month low of $32.93 and a 12 month high of $86.74. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 49.58 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 1.99.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $332.11 million for the quarter, compared to analysts’ expectations of $323.28 million. Diodes had a net margin of 3.36% and a return on equity of 3.28%. Diodes’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. Sell-side analysts expect that Diodes Incorporated will post 1.82 earnings per share for the current year.

Diodes declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the semiconductor company to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

DIOD has been the topic of a number of analyst reports. Baird R W raised shares of Diodes from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Robert W. Baird upgraded shares of Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Monday, April 7th. Truist Financial dropped their price objective on shares of Diodes from $63.00 to $53.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Finally, Benchmark dropped their price objective on shares of Diodes from $65.00 to $55.00 and set a “buy” rating for the company in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.67.

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.