Allspring Global Investments Holdings LLC Boosts Holdings in Diodes Incorporated (NASDAQ:DIOD)

Allspring Global Investments Holdings LLC increased its holdings in Diodes Incorporated (NASDAQ:DIOD) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,695 shares of the semiconductor company’s stock after acquiring an additional 6,062 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.57% of Diodes worth $11,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. increased its stake in Diodes by 19.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 18,768 shares of the semiconductor company’s stock valued at $810,000 after purchasing an additional 3,092 shares in the last quarter. QRG Capital Management Inc. increased its stake in Diodes by 5.4% during the 1st quarter. QRG Capital Management Inc. now owns 6,290 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 323 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new stake in Diodes during the 1st quarter valued at about $689,000. SG Americas Securities LLC bought a new stake in Diodes during the 1st quarter valued at about $952,000. Finally, Bridge City Capital LLC increased its stake in Diodes by 18.4% during the 1st quarter. Bridge City Capital LLC now owns 109,946 shares of the semiconductor company’s stock valued at $4,746,000 after purchasing an additional 17,112 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors.

Diodes Stock Performance

DIOD opened at $57.50 on Friday. The company has a current ratio of 3.43, a quick ratio of 2.11 and a debt-to-equity ratio of 0.01. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 104.54 and a beta of 1.46. The company’s 50 day moving average is $47.31 and its 200 day moving average is $50.14. Diodes Incorporated has a 12-month low of $32.93 and a 12-month high of $86.74.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Diodes had a net margin of 1.90% and a return on equity of 3.04%. The business had revenue of $332.11 million for the quarter, compared to the consensus estimate of $323.28 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts predict that Diodes Incorporated will post 1.82 EPS for the current year.

Diodes declared that its board has approved a stock repurchase program on Thursday, May 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DIOD shares. Benchmark restated a “buy” rating and set a $62.00 price objective (up from $55.00) on shares of Diodes in a research note on Friday, June 13th. Robert W. Baird upgraded shares of Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, April 7th. Finally, Baird R W upgraded shares of Diodes from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Two 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Diodes 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.