First Trust Advisors LP Buys 21,415 Shares of Diodes Incorporated (NASDAQ:DIOD)

Posted by on May 28th, 2023

First Trust Advisors LP raised its stake in Diodes Incorporated (NASDAQ:DIOD – Get Rating) by 52.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,390 shares of the semiconductor company’s stock after purchasing an additional 21,415 shares during the period. First Trust Advisors LP owned 0.14% of Diodes worth $4,750,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DIOD. Channing Capital Management LLC increased its stake in Diodes by 83.6% in the third quarter. Channing Capital Management LLC now owns 671,654 shares of the semiconductor company’s stock valued at $43,597,000 after purchasing an additional 305,781 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Diodes by 102.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 578,250 shares of the semiconductor company’s stock valued at $50,302,000 after purchasing an additional 292,450 shares in the last quarter. New York State Common Retirement Fund increased its stake in Diodes by 67.4% in the fourth quarter. New York State Common Retirement Fund now owns 473,151 shares of the semiconductor company’s stock valued at $36,026,000 after purchasing an additional 190,468 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Diodes by 266.9% during the first quarter. Renaissance Technologies LLC now owns 212,651 shares of the semiconductor company’s stock valued at $18,499,000 after buying an additional 154,700 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Diodes by 2.1% during the first quarter. BlackRock Inc. now owns 7,095,551 shares of the semiconductor company’s stock valued at $617,241,000 after buying an additional 147,907 shares during the last quarter. 96.24% of the stock is owned by institutional investors.

Diodes Stock Up 4.2 %

DIOD opened at $95.81 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.87 and a debt-to-equity ratio of 0.05. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 13.36 and a beta of 1.48. Diodes Incorporated has a twelve month low of $58.52 and a twelve month high of $97.45. The company’s 50-day moving average price is $87.13 and its two-hundred day moving average price is $87.10.

Diodes (NASDAQ:DIOD – Get Rating) last released its earnings results on Tuesday, May 9th. The semiconductor company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.13. The firm had revenue of $467.24 million for the quarter, compared to analysts’ expectations of $467.03 million. Diodes had a net margin of 16.61% and a return on equity of 21.67%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 earnings per share. As a group, equities analysts expect that Diodes Incorporated will post 6.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Cowen lifted their price objective on shares of Diodes from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, February 7th. Robert W. Baird boosted their price target on shares of Diodes from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, February 7th. Wells Fargo & Company cut their price target on shares of Diodes from $95.00 to $85.00 in a report on Wednesday, May 10th. Truist Financial boosted their price target on shares of Diodes from $101.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. Finally, Benchmark boosted their price target on shares of Diodes from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.83.

Insider Buying and Selling at Diodes

In other news, COO Gary Yu sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $96.50, for a total value of $96,500.00. Following the sale, the chief operating officer now owns 45,296 shares of the company’s stock, valued at $4,371,064. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Emily Yang sold 2,913 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $92.05, for a total transaction of $268,141.65. Following the sale, the senior vice president now owns 66,071 shares of the company’s stock, valued at approximately $6,081,835.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Gary Yu sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $96.50, for a total transaction of $96,500.00. Following the sale, the chief operating officer now directly owns 45,296 shares in the company, valued at approximately $4,371,064. The disclosure for this sale can be found here. Insiders have sold a total of 57,175 shares of company stock worth $5,348,431 over the last three months. 2.20% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for Diodes (NASDAQ:DIOD)

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