SummerHaven Investment Management LLC Acquires 210 Shares of Diodes Incorporated (NASDAQ:DIOD)

SummerHaven Investment Management LLC grew its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,101 shares of the semiconductor company’s stock after acquiring an additional 210 shares during the quarter. SummerHaven Investment Management LLC’s holdings in Diodes were worth $583,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in Diodes during the 4th quarter worth approximately $30,000. EntryPoint Capital LLC purchased a new position in shares of Diodes in the 1st quarter worth approximately $40,000. Riverview Trust Co purchased a new position in shares of Diodes during the 1st quarter worth about $51,000. Principal Securities Inc. purchased a new stake in shares of Diodes in the fourth quarter worth approximately $74,000. Finally, NBC Securities Inc. increased its stake in Diodes by 62.3% in the first quarter. NBC Securities Inc. now owns 1,227 shares of the semiconductor company’s stock worth $86,000 after purchasing an additional 471 shares during the period. Institutional investors own 99.23% of the company’s stock.

Diodes Stock Performance

Shares of NASDAQ:DIOD traded up $3.40 during midday trading on Friday, reaching $70.37. The company’s stock had a trading volume of 33,524 shares, compared to its average volume of 352,712. Diodes Incorporated has a twelve month low of $58.96 and a twelve month 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. The firm has a market capitalization of $3.24 billion, a PE ratio of 18.92 and a beta of 1.35. The stock has a fifty day moving average of $73.09 and a 200 day moving average of $71.26.

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

Insider Activity

In related news, CEO Keh Shew Lu sold 20,010 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $67.25, for a total transaction of $1,345,672.50. Following the completion of the transaction, the chief executive officer now owns 246,492 shares in the company, valued at approximately $16,576,587. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Keh Shew Lu sold 20,010 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $67.25, for a total value of $1,345,672.50. Following the transaction, the chief executive officer now directly owns 246,492 shares in the company, valued at $16,576,587. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter M. Menard sold 630 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $71.96, for a total value of $45,334.80. Following the completion of the transaction, the director now directly owns 18,050 shares in the company, valued at approximately $1,298,878. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on DIOD shares. Robert W. Baird raised their price objective on Diodes from $56.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Truist Financial decreased their price objective on Diodes from $74.00 to $69.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, StockNews.com cut Diodes from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $73.20.

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.