Fmr LLC lowered its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 40.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,215 shares of the semiconductor company’s stock after selling 240,238 shares during the quarter. Fmr LLC owned approximately 0.73% of Diodes worth $8,464,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its position in shares of Diodes by 79.1% during the second quarter. State of Alaska Department of Revenue now owns 7,542 shares of the semiconductor company’s stock worth $181,000 after buying an additional 3,332 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Diodes by 10.1% in the first quarter. Public Employees Retirement System of Ohio now owns 8,745 shares of the semiconductor company’s stock worth $210,000 after purchasing an additional 800 shares during the period. Chicago Equity Partners LLC acquired a new position in Diodes in the second quarter worth $265,000. Wedge Capital Management L L P NC acquired a new position in Diodes in the second quarter worth $314,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Diodes by 1.8% in the second quarter. Nisa Investment Advisors LLC now owns 14,220 shares of the semiconductor company’s stock worth $342,000 after purchasing an additional 250 shares during the period. 73.86% of the stock is owned by institutional investors and hedge funds.
In related news, VP Shiao Kwang Edmund Tang sold 27,877 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $30.29, for a total transaction of $844,394.33. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Keh Shew Lu sold 69,084 shares of the business’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $30.30, for a total value of $2,093,245.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 639,852 shares of company stock valued at $18,535,405. 7.00% of the stock is currently owned by insiders.
Diodes Incorporated (DIOD) opened at 34.34 on Wednesday. The stock has a market cap of $1.69 billion, a PE ratio of 65.04 and a beta of 1.26. The firm’s 50-day moving average price is $31.04 and its 200 day moving average price is $27.04. Diodes Incorporated has a 1-year low of $20.01 and a 1-year high of $35.28.
Diodes (NASDAQ:DIOD) last posted its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. The firm had revenue of $264.20 million during the quarter, compared to the consensus estimate of $261.15 million. Diodes had a return on equity of 5.64% and a net margin of 2.68%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. Equities research analysts expect that Diodes Incorporated will post $1.31 EPS for the current year.
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A number of equities analysts have commented on the stock. Benchmark Co. downgraded shares of Diodes from a “buy” rating to a “hold” rating in a report on Monday. Robert W. Baird restated a “buy” rating and set a $37.00 price objective on shares of Diodes in a research note on Tuesday, October 17th. Zacks Investment Research upgraded shares of Diodes from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Friday, August 11th. BidaskClub upgraded shares of Diodes from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Cleveland Research cut shares of Diodes from a “buy” rating to a “neutral” rating in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $35.67.
Diodes Incorporated is a manufacturer and supplier of application-specific standard products within the discrete, logic, analog and mixed-signal semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. The Company’s products include diodes; rectifiers; transistors; metal-oxide semiconductor field-effect transistors (MOSFETs); protection devices; amplifiers and comparators; Hall-effect and temperature sensors, and power management devices, including light emitting diode (LED) drivers, alternating current (AC)-direct current (DC) and DC-DC switching, linear voltage regulators and voltage references, along with special function devices, such as universal serial bus (USB) power switches, load switches, voltage supervisors and motor controllers.
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