Rhumbline Advisers Sells 2,897 Shares of Diodes Incorporated (NASDAQ:DIOD)

Rhumbline Advisers cut its holdings in shares of Diodes Incorporated (NASDAQ:DIOD) by 2.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 135,571 shares of the semiconductor company’s stock after selling 2,897 shares during the quarter. Rhumbline Advisers’ holdings in Diodes were worth $5,853,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Diodes by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 5,910,766 shares of the semiconductor company’s stock worth $364,517,000 after buying an additional 102,263 shares during the period. FMR LLC increased its position in shares of Diodes by 2.0% during the fourth quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company’s stock valued at $363,977,000 after buying an additional 116,872 shares during the period. Dimensional Fund Advisors LP lifted its holdings 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. Earnest Partners LLC boosted its position in shares of Diodes by 0.4% in the fourth quarter. Earnest Partners LLC now owns 2,119,097 shares of the semiconductor company’s stock valued at $130,685,000 after acquiring an additional 7,552 shares during the period. Finally, Victory Capital Management Inc. boosted its position 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 valued at $117,636,000 after acquiring an additional 163,374 shares during the period. Institutional investors own 99.23% of the company’s stock.

Diodes Trading Up 0.1%

Shares of DIOD opened at $50.96 on Friday. Diodes Incorporated has a 1-year low of $32.93 and a 1-year high of $86.74. The company has a market capitalization of $2.36 billion, a P/E ratio of 53.64 and a beta of 1.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 1.99. The firm’s 50 day simple moving average is $42.36 and its 200 day simple moving average is $51.30.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Diodes had a net margin of 3.36% and a return on equity of 3.28%. The firm had revenue of $332.11 million for the quarter, compared to analyst estimates of $323.28 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Diodes announced that its board has authorized a share buyback plan 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 plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

DIOD has been the topic of a number of analyst reports. Benchmark decreased their target price on shares of Diodes from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Robert W. Baird raised shares of Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Monday, April 7th. Finally, Baird R W raised Diodes from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Diodes 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.