Nisa Investment Advisors LLC Raises Stock Holdings in Diodes Incorporated (NASDAQ:DIOD)

Nisa Investment Advisors LLC increased its position in Diodes Incorporated (NASDAQ:DIOD) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,696 shares of the semiconductor company’s stock after purchasing an additional 297 shares during the period. Nisa Investment Advisors LLC’s holdings in Diodes were worth $678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hood River Capital Management LLC purchased a new stake in shares of Diodes in the fourth quarter worth $72,037,000. Norges Bank bought a new position in shares of Diodes during the fourth quarter valued at $33,933,000. Dimensional Fund Advisors LP lifted its holdings in shares of Diodes by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company’s stock valued at $138,053,000 after purchasing an additional 168,545 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Diodes by 55.9% during the fourth quarter. JPMorgan Chase & Co. now owns 353,595 shares of the semiconductor company’s stock valued at $21,806,000 after purchasing an additional 126,853 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Diodes by 2.0% during the fourth quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company’s stock valued at $363,977,000 after purchasing an additional 116,872 shares in the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DIOD shares. Baird R W raised Diodes from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Benchmark reiterated a “buy” rating and set a $62.00 target price (up previously from $55.00) on shares of Diodes in a research report on Friday, June 13th. Finally, Robert W. Baird upgraded Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Diodes Stock Performance

DIOD stock opened at $55.20 on Wednesday. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 100.36 and a beta of 1.46. The firm has a 50-day simple moving average of $50.11 and a two-hundred day simple moving average of $49.69. Diodes Incorporated has a one year low of $32.93 and a one year high of $86.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.11 and a current ratio of 3.43.

Diodes (NASDAQ:DIOD) last announced its earnings results 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. Diodes had a return on equity of 3.04% and a net margin of 1.90%. The company had revenue of $332.11 million for the quarter, compared to analyst estimates of $323.28 million. During the same period in the prior year, the company posted $0.28 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts forecast that Diodes Incorporated will post 1.82 EPS for the current fiscal year.

Diodes declared that its board has authorized a share repurchase program on Thursday, May 8th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.