RBA Wealth Management LLC raised its position in shares of Diodes Incorporated (NASDAQ:DIOD – Get Rating) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,254 shares of the semiconductor company's stock after purchasing an additional 967 shares during the quarter. RBA Wealth Management LLC owned about 0.11% of Diodes worth $3,245,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in Diodes by 9.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 34,229 shares of the semiconductor company's stock valued at $2,210,000 after purchasing an additional 2,830 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Diodes by 5.3% during the 1st quarter. Bank of America Corp DE now owns 1,591,538 shares of the semiconductor company's stock valued at $138,447,000 after acquiring an additional 80,081 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Diodes during the 1st quarter valued at $218,000. Sawgrass Asset Management LLC acquired a new stake in shares of Diodes during the 1st quarter valued at $363,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Diodes by 8.5% during the 1st quarter. Advisors Asset Management Inc. now owns 15,418 shares of the semiconductor company's stock valued at $1,341,000 after acquiring an additional 1,207 shares during the last quarter. 95.57% of the stock is owned by institutional investors.
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Insiders Place Their Bets
In other Diodes news, CEO Keh Shew Lu sold 3,000 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $83.11, for a total transaction of $249,330.00. Following the transaction, the chief executive officer now directly owns 75,183 shares of the company's stock, valued at $6,248,459.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Keh Shew Lu sold 3,000 shares of the firm's stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $83.11, for a total value of $249,330.00. Following the sale, the chief executive officer now directly owns 75,183 shares of the company's stock, valued at $6,248,459.13. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brett R. Whitmire sold 600 shares of the firm's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $60.00, for a total value of $36,000.00. Following the completion of the sale, the chief financial officer now directly owns 27,125 shares in the company, valued at $1,627,500. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the company. Cowen increased their price objective on Diodes to $95.00 in a research report on Tuesday, August 9th. Wells Fargo & Company reduced their target price on Diodes from $85.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, July 11th.
Diodes Stock Down 0.1 %
Shares of NASDAQ:DIOD traded down $0.08 during midday trading on Friday, hitting $65.77. 370,055 shares of the stock were exchanged, compared to its average volume of 148,776. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.69 and a current ratio of 2.43. Diodes Incorporated has a 52-week low of $58.52 and a 52-week high of $113.98. The business's fifty day simple moving average is $74.64 and its two-hundred day simple moving average is $75.39. The company has a market capitalization of $2.99 billion, a PE ratio of 10.49 and a beta of 1.32.
Diodes (NASDAQ:DIOD – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The semiconductor company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Diodes had a return on equity of 23.24% and a net margin of 14.82%. The business had revenue of $500.97 million during the quarter, compared to analyst estimates of $501.47 million. During the same period last year, the company earned $1.20 earnings per share. Diodes's quarterly revenue was up 13.7% compared to the same quarter last year. As a group, research analysts predict that Diodes Incorporated will post 7.15 earnings per share for the current fiscal year.
About Diodes
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Diodes Incorporated designs, manufactures, and supplies application-specific standard products in the discrete, logic, analog, and mixed-signal semiconductor markets worldwide. It focuses on low pin count semiconductor devices with one or more active or passive components. The company offers discrete semiconductor products, such as MOSFET, TVS, and performance Schottky rectifiers; GPP bridges and retifiers, and performance Schottky diodes; Zener and performance Zener diodes, including tight tolerance and low operating current type; standard, fast, super-fast, and ultra-fast recovery rectifiers; bridge rectifiers; switching diodes; small signal bipolar and prebiased transistors; thyristor surge protection devices; and transient voltage suppressors.
Further Reading
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