Bank of New York Mellon Corp lessened its stake in Diodes Incorporated (NASDAQ:DIOD) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 469,683 shares of the semiconductor company’s stock after selling 22,652 shares during the period. Bank of New York Mellon Corp owned about 0.96% of Diodes worth $14,058,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teachers Advisors LLC lifted its stake in shares of Diodes by 6.3% in the 2nd quarter. Teachers Advisors LLC now owns 68,337 shares of the semiconductor company’s stock valued at $1,642,000 after acquiring an additional 4,030 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Diodes by 30.8% in the 3rd quarter. Prudential Financial Inc. now owns 203,186 shares of the semiconductor company’s stock valued at $6,081,000 after acquiring an additional 47,840 shares during the last quarter. AJO LP bought a new stake in shares of Diodes in the 2nd quarter valued at about $1,044,000. Northern Trust Corp lifted its stake in shares of Diodes by 2.9% in the 2nd quarter. Northern Trust Corp now owns 777,284 shares of the semiconductor company’s stock valued at $18,679,000 after acquiring an additional 21,697 shares during the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of Diodes in the 2nd quarter valued at about $718,000. 74.70% of the stock is owned by institutional investors.
Diodes Incorporated (NASDAQ DIOD) opened at $29.01 on Friday. Diodes Incorporated has a twelve month low of $22.06 and a twelve month high of $35.36. The company has a current ratio of 3.12, a quick ratio of 2.18 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1,420.00, a P/E ratio of 26.92 and a beta of 1.15.
A number of equities research analysts have recently weighed in on DIOD shares. Sidoti started coverage on Diodes in a research note on Thursday, September 21st. They issued a “neutral” rating and a $32.00 target price for the company. Benchmark lowered Diodes from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. ValuEngine lowered Diodes from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. BidaskClub raised Diodes from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research lowered Diodes from a “strong-buy” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.00.
In other Diodes news, VP Clemente Beltran sold 4,993 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $35.00, for a total transaction of $174,755.00. Following the transaction, the vice president now owns 31,256 shares in the company, valued at approximately $1,093,960. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Keh Shew Lu sold 69,983 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $31.20, for a total value of $2,183,469.60. The disclosure for this sale can be found here. Insiders have sold a total of 477,486 shares of company stock worth $14,707,920 in the last quarter. Company insiders own 7.00% of the company’s stock.
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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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