Diodes (NASDAQ:DIOD) Board of Directors Initiates Stock Repurchase Program

Diodes (NASDAQ:DIOD) announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 8th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DIOD has been the subject of a number of recent research reports. Benchmark dropped their price objective on shares of Diodes from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Baird R W raised Diodes from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Truist Financial decreased their price objective on Diodes from $63.00 to $53.00 and set a “hold” rating on the stock in a research note on Wednesday, February 12th. Finally, Robert W. Baird raised shares of Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Monday, April 7th. Two investment 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

Diodes Price Performance

DIOD opened at $44.91 on Friday. Diodes has a 1 year low of $32.93 and a 1 year high of $86.74. The company’s 50 day simple moving average is $41.09 and its 200 day simple moving average is $53.41. The stock has a market capitalization of $2.09 billion, a PE ratio of 47.27 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26.

Diodes (NASDAQ:DIOD) last released its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $332.11 million during the quarter, compared to the consensus estimate of $323.28 million. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. As a group, sell-side analysts expect that Diodes will post 1.82 EPS for the current year.

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.