Azzad Asset Management Inc. ADV Takes Position in Diodes Incorporated (NASDAQ:DIOD)

Azzad Asset Management Inc. ADV acquired a new position in Diodes Incorporated (NASDAQ:DIODFree Report) during the 1st quarter, Holdings Channel reports. The firm acquired 15,964 shares of the semiconductor company’s stock, valued at approximately $689,000.

Several other institutional investors have also recently made changes to their positions in DIOD. Smartleaf Asset Management LLC lifted its stake in shares of Diodes by 198.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 522 shares during the period. Quantbot Technologies LP bought a new position in shares of Diodes in the 4th quarter worth approximately $79,000. Sterling Capital Management LLC lifted its stake in shares of Diodes by 789.7% in the 4th 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 period. Xponance Inc. bought a new position in shares of Diodes in the 4th quarter worth approximately $203,000. Finally, Verdence Capital Advisors LLC bought a new position in shares of Diodes in the 4th quarter worth approximately $250,000. Institutional investors own 99.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on DIOD. Benchmark increased their price objective on shares of Diodes from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday. Baird R W upgraded shares of Diodes from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Finally, Robert W. Baird upgraded shares of 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. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.00.

View Our Latest Report on Diodes

Diodes Price Performance

NASDAQ DIOD opened at $49.15 on Monday. Diodes Incorporated has a 12 month low of $32.93 and a 12 month high of $86.74. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 51.74 and a beta of 1.42. The company’s 50 day moving average is $42.65 and its two-hundred day moving average is $51.00. The company has a current ratio of 3.26, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIODGet Free Report) last released 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 firm 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%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. As a group, research analysts anticipate that Diodes Incorporated will post 1.82 earnings per share for the current year.

Diodes announced that its board has initiated a stock repurchase 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 usually an indication that the company’s board of directors believes its stock is undervalued.

Diodes Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Diodes (NASDAQ:DIOD)

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