PNC Financial Services Group Inc. Cuts Position in Diodes Incorporated (NASDAQ:DIOD)

Posted by Defense World Staff on Jun 2nd, 2023

PNC Financial Services Group Inc. lessened its holdings in Diodes Incorporated (NASDAQ:DIOD – Get Rating) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,647 shares of the semiconductor company’s stock after selling 235 shares during the period. PNC Financial Services Group Inc.’s holdings in Diodes were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. SummerHaven Investment Management LLC boosted its holdings in Diodes by 1.1% in the 4th quarter. SummerHaven Investment Management LLC now owns 12,147 shares of the semiconductor company’s stock worth $925,000 after buying an additional 128 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in Diodes by 0.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 39,018 shares of the semiconductor company’s stock worth $3,477,000 after buying an additional 148 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Diodes by 2.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,241 shares of the semiconductor company’s stock worth $627,000 after buying an additional 194 shares during the last quarter. CWM LLC boosted its holdings in shares of Diodes by 19.1% during the 4th quarter. CWM LLC now owns 1,232 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 198 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Diodes by 12.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,878 shares of the semiconductor company’s stock worth $121,000 after purchasing an additional 203 shares during the last quarter. 96.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Robert W. Baird upped their price objective on Diodes from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, February 7th. Wells Fargo & Company decreased their price objective on Diodes from $95.00 to $85.00 in a report on Wednesday, May 10th. Truist Financial upped their price objective on Diodes from $101.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, February 7th. StockNews.com assumed coverage on Diodes in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, Benchmark boosted their target price on Diodes from $90.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.83.

Diodes Stock Up 1.5 %

Shares of NASDAQ DIOD opened at $91.15 on Friday. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 12.71 and a beta of 1.48. The company has a quick ratio of 2.00, a current ratio of 2.87 and a debt-to-equity ratio of 0.05. Diodes Incorporated has a 52-week low of $58.52 and a 52-week high of $97.45. The business’s 50 day moving average is $87.25 and its two-hundred day moving average is $87.41.

Diodes (NASDAQ:DIOD – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The semiconductor company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.13. Diodes had a return on equity of 21.67% and a net margin of 16.61%. The business had revenue of $467.24 million for the quarter, compared to analyst estimates of $467.03 million. During the same quarter in the prior year, the company earned $1.75 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. Research analysts predict that Diodes Incorporated will post 6.39 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Keh Shew Lu sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $94.68, for a total transaction of $2,272,320.00. Following the transaction, the chief executive officer now directly owns 8,683 shares in the company, valued at $822,106.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Emily Yang sold 1,635 shares of Diodes stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $93.36, for a total transaction of $152,643.60. Following the completion of the transaction, the senior vice president now owns 64,436 shares of the company’s stock, valued at approximately $6,015,744.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Keh Shew Lu sold 24,000 shares of Diodes stock in a transaction on Friday, May 19th. The stock was sold at an average price of $94.68, for a total value of $2,272,320.00. Following the transaction, the chief executive officer now directly owns 8,683 shares of the company’s stock, valued at approximately $822,106.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 63,009 shares of company stock valued at $5,925,840. 2.20% of the stock is owned by corporate 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.