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Allspring Global Investments Holdings LLC lowered its stake in Diodes Incorporated (NASDAQ:DIOD – Free Report) by 47.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 241,251 shares of the semiconductor company’s stock after selling 217,378 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.53% of Diodes worth $17,008,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Corient Private Wealth LLC purchased a new position in shares of Diodes in the fourth quarter worth about $2,623,000. Tributary Capital Management LLC increased its holdings in shares of Diodes by 15.9% in the fourth quarter. Tributary Capital Management LLC now owns 225,029 shares of the semiconductor company’s stock worth $18,119,000 after buying an additional 30,840 shares during the period. Sei Investments Co. increased its holdings in shares of Diodes by 23.5% in the fourth quarter. Sei Investments Co. now owns 724,397 shares of the semiconductor company’s stock worth $58,328,000 after buying an additional 137,676 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Diodes by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 529,879 shares of the semiconductor company’s stock worth $42,666,000 after buying an additional 19,457 shares during the period. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Diodes by 478.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 391,415 shares of the semiconductor company’s stock worth $31,517,000 after buying an additional 323,759 shares during the period. Hedge funds and other institutional investors own 99.23% of the company’s stock.
Diodes Stock Performance
Diodes stock opened at $72.95 on Friday. The stock’s 50 day simple moving average is $72.75 and its two-hundred day simple moving average is $71.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.05 and a current ratio of 3.18. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 19.88 and a beta of 1.36. Diodes Incorporated has a fifty-two week low of $60.00 and a fifty-two week high of $96.68.
Diodes (NASDAQ:DIOD – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $301.90 million for the quarter, compared to analysts’ expectations of $305.47 million. Diodes had a return on equity of 9.11% and a net margin of 11.36%. The business’s revenue was down 35.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.59 EPS. As a group, analysts expect that Diodes Incorporated will post 1.8 earnings per share for the current fiscal year.
Insider Buying and Selling at Diodes
In other news, CEO Keh Shew Lu sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $75.30, for a total value of $1,129,500.00. Following the sale, the chief executive officer now directly owns 87,331 shares of the company’s stock, valued at approximately $6,576,024.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Peter M. Menard sold 630 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $71.96, for a total value of $45,334.80. Following the sale, the director now directly owns 18,050 shares of the company’s stock, valued at approximately $1,298,878. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Keh Shew Lu sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $75.30, for a total value of $1,129,500.00. Following the completion of the sale, the chief executive officer now directly owns 87,331 shares in the company, valued at $6,576,024.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,630 shares of company stock valued at $2,272,715. 2.30% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
DIOD has been the topic of several recent analyst reports. Truist Financial raised their target price on Diodes from $67.00 to $74.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Robert W. Baird raised their target price on Diodes from $56.00 to $72.00 and gave the stock a “neutral” rating in a research note on Friday, May 10th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $74.20.
Read Our Latest Analysis on Diodes
About Diodes
Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.
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