Wedge Capital Management L L P NC Sells 15,235 Shares of Diodes Incorporated (NASDAQ:DIOD)

Wedge Capital Management L L P NC trimmed its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 17.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,724 shares of the semiconductor company’s stock after selling 15,235 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.15% of Diodes worth $5,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Corient Private Wealth LLC bought a new stake in Diodes in the fourth quarter worth approximately $2,623,000. BNP Paribas Financial Markets increased its holdings in Diodes by 113.2% in the first quarter. BNP Paribas Financial Markets now owns 72,116 shares of the semiconductor company’s stock worth $5,084,000 after purchasing an additional 38,296 shares in the last quarter. Sei Investments Co. increased its holdings in 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 purchasing an additional 137,676 shares in the last quarter. Vanguard Group Inc. increased its holdings in Diodes by 2.3% in the first quarter. Vanguard Group Inc. now owns 5,782,828 shares of the semiconductor company’s stock worth $407,689,000 after purchasing an additional 132,101 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in Diodes in the first quarter worth approximately $1,055,000. 99.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DIOD shares. Truist Financial lowered their target price on Diodes from $74.00 to $69.00 and set a “hold” rating for the company in a report on Friday, August 9th. StockNews.com cut Diodes from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Robert W. Baird lifted their target price on Diodes from $56.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Diodes has a consensus rating of “Hold” and an average target price of $73.20.

Diodes Stock Performance

Diodes stock traded down $0.01 during mid-day trading on Friday, reaching $66.58. 11,126 shares of the company’s stock were exchanged, compared to its average volume of 354,676. The business’s fifty day simple moving average is $73.64 and its 200 day simple moving average is $71.27. The firm has a market capitalization of $3.07 billion, a PE ratio of 18.14 and a beta of 1.35. Diodes Incorporated has a one year low of $58.96 and a one year high of $86.74. The company has a quick ratio of 2.05, a current ratio of 3.18 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $319.80 million for the quarter, compared to analyst estimates of $316.12 million. Diodes had a return on equity of 9.11% and a net margin of 11.36%. Diodes’s quarterly revenue was down 31.5% compared to the same quarter last year. During the same period last year, the company posted $1.59 earnings per share. On average, sell-side analysts expect that Diodes Incorporated will post 1.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Keh Shew Lu sold 15,000 shares of Diodes stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $75.30, for a total transaction of $1,129,500.00. Following the sale, the chief executive officer now directly owns 87,331 shares in the company, valued at $6,576,024.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Diodes news, Director Peter M. Menard sold 630 shares of the business’s stock in a transaction 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 in the company, valued at $1,298,878. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Keh Shew Lu sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were 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 owns 87,331 shares in the company, valued at $6,576,024.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,630 shares of company stock worth $1,618,415. 2.30% of the stock is owned by company insiders.

Diodes Company Profile

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.