Raymond James & Associates Lowers Stock Holdings in Diodes Incorporated (NASDAQ:DIOD)

Raymond James & Associates lessened its holdings in shares of Diodes Incorporated (NASDAQ:DIOD) by 65.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,519 shares of the semiconductor company’s stock after selling 6,803 shares during the quarter. Raymond James & Associates’ holdings in Diodes were worth $283,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Insight Wealth Strategies LLC lifted its position in Diodes by 10.7% during the fourth quarter. Insight Wealth Strategies LLC now owns 23,481 shares of the semiconductor company’s stock worth $1,891,000 after buying an additional 2,271 shares during the period. Richard P Slaughter Associates Inc purchased a new position in shares of Diodes during the 4th quarter worth about $2,017,000. Public Employees Retirement System of Ohio boosted its position in shares of Diodes by 382.9% in the third quarter. Public Employees Retirement System of Ohio now owns 2,714 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 2,152 shares during the last quarter. Vanguard Group Inc. grew its holdings in Diodes by 1.8% in the third quarter. Vanguard Group Inc. now owns 5,580,606 shares of the semiconductor company’s stock valued at $439,975,000 after purchasing an additional 100,618 shares during the period. Finally, American Century Companies Inc. increased its position in Diodes by 12.2% during the third quarter. American Century Companies Inc. now owns 616,083 shares of the semiconductor company’s stock worth $48,572,000 after purchasing an additional 66,776 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

Insider Transactions at Diodes

In related news, CEO Keh Shew Lu sold 6,000 shares of Diodes stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $68.98, for a total transaction of $413,880.00. Following the sale, the chief executive officer now owns 274,492 shares of the company’s stock, valued at approximately $18,934,458.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Keh Shew Lu sold 6,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $68.98, for a total value of $413,880.00. Following the completion of the transaction, the chief executive officer now owns 274,492 shares of the company’s stock, valued at $18,934,458.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brett R. Whitmire sold 3,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $67.30, for a total value of $228,820.00. Following the sale, the chief financial officer now owns 48,265 shares of the company’s stock, valued at approximately $3,248,234.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,900 shares of company stock valued at $1,774,570. Corporate insiders own 2.30% of the company’s stock.

Diodes Trading Up 1.8 %

NASDAQ:DIOD opened at $74.00 on Tuesday. The business’s 50-day moving average is $68.84 and its two-hundred day moving average is $70.54. The firm has a market capitalization of $3.42 billion, a PE ratio of 15.07 and a beta of 1.47. Diodes Incorporated has a 12 month low of $60.00 and a 12 month high of $97.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.02 and a quick ratio of 2.03.

Diodes (NASDAQ:DIOD) last announced its earnings results on Tuesday, February 6th. The semiconductor company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. The business had revenue of $322.70 million for the quarter, compared to the consensus estimate of $324.76 million. Diodes had a return on equity of 12.79% and a net margin of 13.67%. The company’s revenue was down 35.0% on a year-over-year basis. During the same period last year, the business posted $1.73 EPS. Research analysts predict that Diodes Incorporated will post 2.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Diodes from $80.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 7th. TD Cowen upped their price target on Diodes from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Finally, Truist Financial reduced their price objective on Diodes from $78.00 to $67.00 and set a “hold” rating on the stock in a research note on Wednesday, February 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.40.

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.