Northern Trust Corp Has $35.19 Million Position in Diodes Incorporated (NASDAQ:DIOD)

Northern Trust Corp grew its holdings in Diodes Incorporated (NASDAQ:DIOD) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 570,564 shares of the semiconductor company’s stock after buying an additional 49,377 shares during the quarter. Northern Trust Corp owned 1.23% of Diodes worth $35,187,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pitcairn Co. raised its position in Diodes by 4.2% in the fourth quarter. Pitcairn Co. now owns 5,208 shares of the semiconductor company’s stock worth $321,000 after purchasing an additional 208 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Diodes by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,772 shares of the semiconductor company’s stock valued at $294,000 after purchasing an additional 262 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Diodes by 1.0% in the 4th quarter. Corient Private Wealth LLC now owns 32,505 shares of the semiconductor company’s stock worth $2,005,000 after buying an additional 328 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Diodes by 4.1% during the 4th quarter. HighTower Advisors LLC now owns 8,501 shares of the semiconductor company’s stock worth $524,000 after buying an additional 335 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in Diodes by 6.4% in the 4th quarter. Sanctuary Advisors LLC now owns 7,087 shares of the semiconductor company’s stock valued at $414,000 after buying an additional 425 shares in the last quarter. 99.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DIOD has been the subject of a number of analyst reports. Benchmark cut their price objective on Diodes from $74.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Truist Financial reduced their price target on shares of Diodes from $63.00 to $53.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Baird R W raised shares of Diodes from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Finally, Robert W. Baird raised Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 target price on the stock in a report on Monday, April 7th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.00.

Diodes Price Performance

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

Diodes (NASDAQ:DIOD) last released its earnings results on Thursday, May 8th. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The company had revenue of $332.11 million during the quarter, compared to analysts’ expectations of $323.28 million. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. Sell-side analysts anticipate that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Diodes announced that its board has authorized a share buyback program on Thursday, May 8th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.