Summit Global Investments Grows Holdings in Diodes Incorporated (NASDAQ:DIOD)

Summit Global Investments lifted its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 20.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,648 shares of the semiconductor company’s stock after acquiring an additional 800 shares during the quarter. Summit Global Investments’ holdings in Diodes were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DIOD. GAMMA Investing LLC purchased a new stake in shares of Diodes in the 4th quarter worth $30,000. NBC Securities Inc. bought a new position in Diodes during the 3rd quarter worth about $59,000. Meeder Asset Management Inc. purchased a new position in Diodes during the 4th quarter valued at about $143,000. Signaturefd LLC raised its holdings in shares of Diodes by 9.0% in the 3rd quarter. Signaturefd LLC now owns 2,018 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 167 shares in the last quarter. Finally, Mendota Financial Group LLC boosted its stake in shares of Diodes by 8.5% during the fourth quarter. Mendota Financial Group LLC now owns 2,039 shares of the semiconductor company’s stock valued at $164,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

Analysts Set New Price Targets

DIOD has been the topic of several recent research reports. TD Cowen increased their target price on Diodes from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Truist Financial decreased their price target on shares of Diodes from $78.00 to $67.00 and set a “hold” rating for the company in a research report on Wednesday, February 7th. Finally, Wells Fargo & Company cut their price objective on shares of Diodes from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $72.40.

Diodes Price Performance

Shares of NASDAQ DIOD opened at $72.79 on Monday. Diodes Incorporated has a fifty-two week low of $60.00 and a fifty-two week high of $97.37. The company has a market cap of $3.36 billion, a PE ratio of 14.82 and a beta of 1.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.03 and a current ratio of 3.02. The business has a 50-day simple moving average of $69.17 and a two-hundred day simple moving average of $70.39.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings data 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 firm had revenue of $322.70 million during the quarter, compared to analyst estimates of $324.76 million. Diodes had a net margin of 13.67% and a return on equity of 12.79%. Diodes’s revenue was down 35.0% on a year-over-year basis. During the same period last year, the firm posted $1.73 EPS. As a group, equities analysts expect that Diodes Incorporated will post 2.55 EPS for the current fiscal year.

Insider Transactions at Diodes

In related news, CEO Keh Shew Lu sold 12,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $68.78, for a total value of $825,360.00. Following the transaction, the chief executive officer now directly owns 262,492 shares of the company’s stock, valued at approximately $18,054,199.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Keh Shew Lu sold 12,000 shares of Diodes stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $68.78, for a total transaction of $825,360.00. Following the completion of the sale, the chief executive officer now owns 262,492 shares of the company’s stock, valued at $18,054,199.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brett R. Whitmire sold 3,400 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $67.30, for a total transaction of $228,820.00. Following the completion of the transaction, the chief financial officer now owns 48,265 shares in the company, valued at approximately $3,248,234.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,900 shares of company stock worth $1,774,570. Company insiders own 2.30% of the company’s stock.

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.