Victory Capital Management Inc. reduced its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,272,472 shares of the semiconductor company’s stock after selling 153,326 shares during the quarter. Victory Capital Management Inc. owned approximately 6.67% of Diodes worth $97,945,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Teachers Advisors LLC raised its stake in Diodes by 6.3% in the second quarter. Teachers Advisors LLC now owns 68,337 shares of the semiconductor company’s stock valued at $1,642,000 after buying an additional 4,030 shares during the last quarter. Bank of America Corp DE raised its stake in Diodes by 27.7% in the first quarter. Bank of America Corp DE now owns 167,123 shares of the semiconductor company’s stock valued at $4,020,000 after buying an additional 36,263 shares during the last quarter. AJO LP purchased a new stake in Diodes in the second quarter valued at about $1,044,000. Russell Investments Group Ltd. raised its stake in Diodes by 75.7% in the second quarter. Russell Investments Group Ltd. now owns 61,043 shares of the semiconductor company’s stock valued at $1,467,000 after buying an additional 26,306 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in Diodes in the second quarter valued at about $718,000. Hedge funds and other institutional investors own 73.86% of the company’s stock.
A number of equities research analysts have commented on the company. Benchmark Co. cut Diodes from a “buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird reiterated a “buy” rating and issued a $37.00 price target on shares of Diodes in a research note on Tuesday, October 17th. Zacks Investment Research upgraded Diodes from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a research note on Tuesday, October 17th. Sidoti assumed coverage on Diodes in a research note on Thursday, September 21st. They issued a “neutral” rating and a $32.00 price target for the company. Finally, Cleveland Research cut Diodes from a “buy” rating to a “neutral” rating in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $35.67.
In other news, VP Clemente Beltran sold 4,993 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $35.00, for a total value of $174,755.00. Following the completion of the sale, the vice president now directly owns 31,256 shares of the company’s stock, valued at approximately $1,093,960. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C H. Chen sold 30,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $28.25, for a total value of $847,500.00. Following the completion of the sale, the director now directly owns 509,979 shares of the company’s stock, valued at $14,406,906.75. The disclosure for this sale can be found here. Insiders have sold a total of 639,852 shares of company stock valued at $18,535,405 over the last ninety days. 7.00% of the stock is owned by company insiders.
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Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company 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%. Diodes’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 EPS.
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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