Diodes (NASDAQ:DIOD) Board Announces Share Repurchase Program

Diodes (NASDAQ:DIOD) declared that its Board of Directors has approved a share buyback program on Thursday, May 8th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Diodes Stock Up 12.5 %

NASDAQ:DIOD opened at $44.91 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26. The stock has a market capitalization of $2.09 billion, a P/E ratio of 47.27 and a beta of 1.37. The company’s 50-day simple moving average is $41.09 and its 200-day simple moving average is $53.34. Diodes has a fifty-two week low of $32.93 and a fifty-two week 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. On average, equities analysts anticipate that Diodes will post 1.82 earnings per share for the current fiscal year.

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.