Diodes (NASDAQ:DIOD) Earns “Buy” Rating from Benchmark

Diodes (NASDAQ:DIOD)‘s stock had its “buy” rating reissued by research analysts at Benchmark in a research report issued on Friday, Marketbeat.com reports. They currently have a $62.00 target price on the semiconductor company’s stock, up from their previous target price of $55.00. Benchmark’s target price points to a potential upside of 24.54% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Baird R W raised shares of Diodes from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. 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 research report on Monday, April 7th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.00.

Diodes Price Performance

NASDAQ DIOD traded up $0.64 during trading hours on Friday, reaching $49.79. 103,617 shares of the company’s stock were exchanged, compared to its average volume of 436,530. The firm has a fifty day moving average of $42.65 and a 200-day moving average of $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 has a one year low of $32.93 and a one year high of $86.74. The stock has a market cap of $2.31 billion, a PE ratio of 52.45 and a beta of 1.42.

Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $332.11 million during the quarter, compared to analysts’ expectations of $323.28 million. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. On average, equities research analysts predict that Diodes will post 1.82 earnings per share for the current fiscal year.

Diodes declared that its Board of Directors has authorized a share repurchase program on Thursday, May 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DIOD. Signaturefd LLC grew its position in Diodes by 170.1% in the 1st quarter. Signaturefd LLC now owns 597 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 376 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Diodes by 198.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock valued at $48,000 after buying an additional 522 shares during the period. Quantbot Technologies LP bought a new position in Diodes during the fourth quarter worth about $79,000. Sterling Capital Management LLC grew its stake in Diodes by 789.7% in the 4th 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Diodes in the 1st quarter worth about $70,000. 99.23% of the stock is owned by institutional investors and hedge funds.

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.