Numerai GP LLC Invests $539,000 in Diodes Incorporated (NASDAQ:DIOD)

Numerai GP LLC acquired a new stake in Diodes Incorporated (NASDAQ:DIOD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,735 shares of the semiconductor company’s stock, valued at approximately $539,000.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake 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 worth $48,000 after buying an additional 522 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Diodes during the 4th quarter valued at approximately $79,000. Sterling Capital Management LLC grew its holdings in shares of Diodes by 789.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,290 shares of the semiconductor company’s stock valued at $80,000 after purchasing an additional 1,145 shares during the last quarter. KBC Group NV grew its holdings in shares of Diodes by 36.7% during the 4th quarter. KBC Group NV now owns 1,987 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 533 shares during the last quarter. Finally, Xponance Inc. bought a new stake in shares of Diodes during the 4th quarter valued at approximately $203,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

Diodes Trading Up 0.4%

DIOD opened at $48.72 on Thursday. Diodes Incorporated has a fifty-two week low of $32.93 and a fifty-two week high of $86.74. 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 firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 51.28 and a beta of 1.37. The company’s 50 day moving average price is $41.03 and its two-hundred day moving average price is $53.08.

Diodes (NASDAQ:DIOD) last released its 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. Diodes had a net margin of 3.36% and a return on equity of 3.28%. The company 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 company earned $0.28 EPS. Diodes’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that Diodes Incorporated will post 1.82 earnings per share for the current year.

Diodes declared that its board has approved a share repurchase plan on Thursday, May 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the semiconductor company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DIOD. 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 report on Monday, April 7th. Baird R W raised shares of Diodes from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Benchmark decreased their price target on shares of Diodes from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Monday. Finally, Truist Financial reduced their target price on shares of Diodes from $63.00 to $53.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Two investment 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 MarketBeat.com, Diodes currently has a consensus rating of “Moderate Buy” and an average price target of $52.67.

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.