Profund Advisors LLC reduced its stake in Diodes Incorporated (NASDAQ:DIOD – Free Report) by 6.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,666 shares of the semiconductor company’s stock after selling 179 shares during the period. Profund Advisors LLC’s holdings in Diodes were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Earnest Partners LLC lifted its stake in Diodes by 58.8% in the 4th quarter. Earnest Partners LLC now owns 2,571,905 shares of the semiconductor company’s stock valued at $195,825,000 after purchasing an additional 952,090 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Diodes by 234.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 665,132 shares of the semiconductor company’s stock worth $17,321,000 after acquiring an additional 466,204 shares during the last quarter. Norges Bank acquired a new position in Diodes in the 4th quarter worth about $30,756,000. Fuller & Thaler Asset Management Inc. raised its position 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 during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Diodes by 40.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 598,086 shares of the semiconductor company’s stock valued at $45,538,000 after purchasing an additional 173,589 shares in the last quarter. 94.82% of the stock is owned by institutional investors.
Insider Activity at Diodes
In related news, insider Andy Tsong sold 1,988 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $82.50, for a total transaction of $164,010.00. Following the completion of the sale, the insider now owns 30,575 shares of the company’s stock, valued at $2,522,437.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Andy Tsong sold 1,988 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $82.50, for a total transaction of $164,010.00. Following the transaction, the insider now owns 30,575 shares in the company, valued at $2,522,437.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gary Yu sold 3,300 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $82.62, for a total value of $272,646.00. Following the completion of the sale, the chief operating officer now owns 41,996 shares of the company’s stock, valued at $3,469,709.52. The disclosure for this sale can be found here. Insiders have sold a total of 7,988 shares of company stock worth $655,248 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.
Diodes Stock Down 2.5 %
Diodes (NASDAQ:DIOD – Get Free Report) last released its earnings results on Tuesday, August 8th. The semiconductor company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.02. Diodes had a net margin of 16.99% and a return on equity of 19.78%. The business had revenue of $467.20 million for the quarter, compared to analyst estimates of $467.12 million. During the same quarter in the previous year, the business earned $1.90 earnings per share. Diodes’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities analysts forecast that Diodes Incorporated will post 5.51 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on DIOD. StockNews.com assumed coverage on shares of Diodes in a report on Thursday, August 17th. They issued a “buy” rating for the company. Benchmark cut their price target on shares of Diodes from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, August 9th. Finally, Truist Financial decreased their price objective on Diodes from $94.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $100.60.
Get Our Latest Research Report on DIOD
About Diodes
Diodes Incorporated engages in the manufacture and supply of application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFET, TVS, and performance Schottky rectifiers; GPP bridges and rectifiers, and performance Schottky diodes; performance Zener diodes, including tight tolerance and low operating current type; standard, fast, super-fast, and ultra-fast recovery rectifiers; bridge rectifiers; switching diodes; small signal bipolar and prebiased transistors; thyristor surge protection devices; and transient voltage suppressors.
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