Ziegler Capital Management LLC Trims Holdings in Diodes Incorporated (NASDAQ:DIOD)

Posted by Defense World Staff on Apr 5th, 2023

Ziegler Capital Management LLC decreased its holdings in Diodes Incorporated (NASDAQ:DIOD – Get Rating) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,739 shares of the semiconductor company’s stock after selling 5,238 shares during the period. Ziegler Capital Management LLC’s holdings in Diodes were worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Diodes by 23.0% during the first quarter. JPMorgan Chase & Co. now owns 117,862 shares of the semiconductor company’s stock valued at $10,252,000 after buying an additional 22,056 shares during the period. Raymond James & Associates increased its stake in shares of Diodes by 111.4% during the first quarter. Raymond James & Associates now owns 8,385 shares of the semiconductor company’s stock valued at $729,000 after buying an additional 4,419 shares during the period. Citigroup Inc. increased its stake in shares of Diodes by 11.6% during the first quarter. Citigroup Inc. now owns 48,254 shares of the semiconductor company’s stock valued at $4,198,000 after buying an additional 5,012 shares during the period. MetLife Investment Management LLC increased its stake in shares of Diodes by 55.6% during the first quarter. MetLife Investment Management LLC now owns 22,875 shares of the semiconductor company’s stock valued at $1,990,000 after buying an additional 8,174 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Diodes by 4.9% during the first quarter. Rhumbline Advisers now owns 111,144 shares of the semiconductor company’s stock valued at $9,668,000 after buying an additional 5,201 shares during the period. Hedge funds and other institutional investors own 96.24% of the company’s stock.

Insiders Place Their Bets

In other Diodes news, CFO Brett R. Whitmire sold 380 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $93.72, for a total value of $35,613.60. Following the completion of the sale, the chief financial officer now owns 31,693 shares of the company’s stock, valued at $2,970,267.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Diodes news, CEO Keh Shew Lu sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $92.50, for a total value of $1,480,000.00. Following the completion of the sale, the chief executive officer now owns 138,988 shares of the company’s stock, valued at $12,856,390. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Brett R. Whitmire sold 380 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $93.72, for a total value of $35,613.60. Following the completion of the sale, the chief financial officer now directly owns 31,693 shares of the company’s stock, valued at approximately $2,970,267.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,957 shares of company stock valued at $8,257,685. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DIOD has been the topic of several research reports. Benchmark raised their price target on Diodes from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Robert W. Baird raised their price target on Diodes from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, February 7th. Wells Fargo & Company raised their price objective on Diodes from $75.00 to $95.00 in a research report on Wednesday, February 8th. Cowen raised their price objective on Diodes from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, February 7th. Finally, Truist Financial raised their price objective on Diodes from $101.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, February 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.50.

Diodes Price Performance

Shares of DIOD stock opened at $87.19 on Wednesday. Diodes Incorporated has a 1-year low of $58.52 and a 1-year high of $97.45. The stock’s 50-day moving average is $91.42 and its 200 day moving average is $82.68. The company has a market cap of $3.97 billion, a P/E ratio of 12.08 and a beta of 1.49. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.69 and a quick ratio of 1.85.

Diodes (NASDAQ:DIOD – Get Rating) last issued its quarterly earnings results on Monday, February 6th. The semiconductor company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.09. The business had revenue of $496.20 million during the quarter, compared to the consensus estimate of $492.68 million. Diodes had a return on equity of 23.28% and a net margin of 16.56%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $1.60 earnings per share. Research analysts predict that Diodes Incorporated will post 6.41 earnings per share for the current fiscal year.

About Diodes

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Diodes, Inc manufactures and supplies application-specific standard products within the broad discrete, logic, analog, and mixed-signal semiconductor markets. The firm offers diodes, rectifiers, transistors, MOSFETs, protection devices, functional specific arrays, single gate, dual gate and standard logic, amplifiers and comparators, Hall-effect, and temperature sensors.