Legato Capital Management LLC raised its position in shares of Diodes Incorporated (NASDAQ:DIOD) by 890.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,335 shares of the semiconductor company’s stock after buying an additional 40,756 shares during the period. Legato Capital Management LLC owned 0.09% of Diodes worth $1,089,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Diodes by 27.7% in the first quarter. Bank of America Corp DE now owns 167,123 shares of the semiconductor company’s stock worth $4,020,000 after buying an additional 36,263 shares during the period. Two Sigma Investments LP increased its position in Diodes by 8.1% in the fourth quarter. Two Sigma Investments LP now owns 28,007 shares of the semiconductor company’s stock valued at $719,000 after buying an additional 2,108 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in Diodes during the first quarter valued at approximately $681,000. Renaissance Technologies LLC increased its position in Diodes by 4.4% in the fourth quarter. Renaissance Technologies LLC now owns 198,827 shares of the semiconductor company’s stock valued at $5,104,000 after buying an additional 8,400 shares in the last quarter. Finally, Comerica Bank increased its position in Diodes by 5.7% in the fourth quarter. Comerica Bank now owns 41,071 shares of the semiconductor company’s stock valued at $1,072,000 after buying an additional 2,211 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.
Shares of Diodes Incorporated (DIOD) opened at 26.83 on Wednesday. The firm has a 50 day moving average price of $25.48 and a 200-day moving average price of $24.89. The firm has a market capitalization of $1.30 billion, a P/E ratio of 71.36 and a beta of 1.22. Diodes Incorporated has a 52 week low of $18.32 and a 52 week high of $27.50.
Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Diodes had a return on equity of 4.72% and a net margin of 1.98%. The business had revenue of $264.20 million for the quarter, compared to the consensus estimate of $261.15 million. During the same period in the prior year, the business earned $0.20 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. Equities research analysts predict that Diodes Incorporated will post $1.17 EPS for the current fiscal year.
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Several research analysts recently commented on the company. Zacks Investment Research raised Diodes from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Friday, May 12th. Robert W. Baird reissued an “outperform” rating and issued a $30.00 price objective on shares of Diodes in a research note on Friday, June 9th. BidaskClub downgraded Diodes from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Cleveland Research downgraded Diodes from a “buy” rating to a “neutral” rating in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $29.50.
In related news, CEO Keh Shew Lu sold 8,505 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $23.81, for a total value of $202,504.05. Following the completion of the transaction, the chief executive officer now directly owns 1,032,021 shares in the company, valued at $24,572,420.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Francis Tang sold 2,200 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $26.66, for a total value of $58,652.00. Following the completion of the transaction, the vice president now owns 69,943 shares of the company’s stock, valued at $1,864,680.38. The disclosure for this sale can be found here. Insiders sold 284,513 shares of company stock valued at $7,428,620 over the last quarter. Insiders own 6.70% of the company’s stock.
Diodes Company Profile
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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