Diodes (NASDAQ:DIOD) Shares Up 12.7% After Better-Than-Expected Earnings

Shares of Diodes Incorporated (NASDAQ:DIOD) traded up 12.7% on Friday following a better than expected earnings announcement. The company traded as high as $46.68 and last traded at $44.99. 104,353 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 418,722 shares. The stock had previously closed at $39.93.

The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $332.11 million for 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 was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share.

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.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DIOD shares. Truist Financial cut their target price on shares of Diodes from $63.00 to $53.00 and set a “hold” 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. Benchmark dropped their price target on Diodes from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Robert W. Baird raised Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Monday, April 7th. Two 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Signaturefd LLC raised its position in Diodes by 170.1% during the first 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 increased its position in shares of Diodes by 198.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 785 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 522 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Diodes during the 4th quarter valued at $79,000. Sterling Capital Management LLC lifted its position in Diodes by 789.7% in the fourth quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company’s stock worth $80,000 after buying an additional 1,145 shares during the last quarter. Finally, KBC Group NV boosted its stake in Diodes by 36.7% during the fourth quarter. KBC Group NV now owns 1,987 shares of the semiconductor company’s stock worth $123,000 after buying an additional 533 shares during the period. Institutional investors own 99.23% of the company’s stock.

Diodes Price Performance

The stock’s 50-day simple moving average is $41.09 and its two-hundred day simple moving average is $53.41. The firm has a market cap of $2.09 billion, a P/E ratio of 47.27 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 Company Profile

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.