Great Lakes Advisors LLC Trims Position in Diodes Incorporated (NASDAQ:DIOD)

Great Lakes Advisors LLC lessened its position in shares of Diodes Incorporated (NASDAQ:DIODGet Rating) by 19.2% in the first quarter, Holdings Channel reports. The fund owned 88,418 shares of the semiconductor company’s stock after selling 21,041 shares during the quarter. Great Lakes Advisors LLC’s holdings in Diodes were worth $7,691,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its position in Diodes by 11.1% during the first quarter. Los Angeles Capital Management LLC now owns 52,905 shares of the semiconductor company’s stock valued at $4,602,000 after acquiring an additional 5,275 shares during the last quarter. Quadrant Capital Group LLC increased its position in Diodes by 305.7% during the first quarter. Quadrant Capital Group LLC now owns 426 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 321 shares during the last quarter. IndexIQ Advisors LLC purchased a new stake in Diodes during the first quarter valued at $380,000. Russell Investments Group Ltd. increased its position in Diodes by 27.8% during the first quarter. Russell Investments Group Ltd. now owns 73,400 shares of the semiconductor company’s stock valued at $6,382,000 after acquiring an additional 15,956 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Diodes by 175.9% during the first quarter. Janney Montgomery Scott LLC now owns 12,654 shares of the semiconductor company’s stock valued at $1,101,000 after acquiring an additional 8,067 shares during the last quarter. Hedge funds and other institutional investors own 93.74% of the company’s stock.

Insider Transactions at Diodes

In other news, CFO Brett R. Whitmire sold 600 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $60.00, for a total value of $36,000.00. Following the completion of the transaction, the chief financial officer now owns 27,125 shares of the company’s stock, valued at $1,627,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on DIOD shares. Wells Fargo & Company cut their price target on Diodes from $85.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Truist Financial cut their price target on Diodes from $125.00 to $97.00 in a report on Friday, April 8th.

Diodes Stock Performance

NASDAQ:DIOD opened at $81.68 on Friday. The stock has a 50-day simple moving average of $71.09 and a two-hundred day simple moving average of $78.54. Diodes Incorporated has a 52-week low of $58.52 and a 52-week high of $113.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.49. The firm has a market capitalization of $3.70 billion, a PE ratio of 13.03 and a beta of 1.29.

Diodes (NASDAQ:DIODGet Rating) last released its quarterly earnings data on Thursday, August 4th. The semiconductor company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $500.97 million during the quarter, compared to analyst estimates of $501.47 million. Diodes had a return on equity of 23.80% and a net margin of 14.82%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 earnings per share. Analysts forecast that Diodes Incorporated will post 6.93 EPS for the current year.

Diodes Company Profile

(Get Rating)

Diodes Incorporated designs, manufactures, and supplies application-specific standard products in the discrete, logic, analog, and mixed-signal semiconductor markets worldwide. It focuses on low pin count semiconductor devices with one or more active or passive components. The company offers discrete semiconductor products, such as MOSFET, TVS, and performance Schottky rectifiers; GPP bridges and retifiers, and performance Schottky diodes; Zener and 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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Institutional Ownership by Quarter for Diodes (NASDAQ:DIOD)

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