Wellington Management Group LLP purchased a new stake in shares of Diodes Incorporated (NASDAQ:DIOD) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,672 shares of the semiconductor company’s stock, valued at approximately $230,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Private Capital Group LLC boosted its holdings in Diodes by 115.7% during the first quarter. Private Capital Group LLC now owns 990 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 531 shares during the period. Point72 Hong Kong Ltd bought a new stake in Diodes during the fourth quarter valued at about $68,000. Squar Milner Financial Services LLC boosted its holdings in Diodes by 19.0% during the first quarter. Squar Milner Financial Services LLC now owns 2,229 shares of the semiconductor company’s stock valued at $90,000 after acquiring an additional 356 shares during the period. Fifth Third Bancorp bought a new stake in Diodes during the first quarter valued at about $111,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Diodes by 23.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,408 shares of the semiconductor company’s stock valued at $137,000 after acquiring an additional 458 shares during the period. Institutional investors own 79.94% of the company’s stock.
Shares of DIOD stock opened at $49.51 on Wednesday. The stock’s fifty day simple moving average is $48.77 and its 200 day simple moving average is $48.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.02 and a quick ratio of 2.14. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 18.27 and a beta of 1.33. Diodes Incorporated has a one year low of $31.51 and a one year high of $59.70.
Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Monday, May 11th. The semiconductor company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.02). The company had revenue of $280.70 million during the quarter, compared to analyst estimates of $286.00 million. Diodes had a net margin of 11.54% and a return on equity of 12.52%. Diodes’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. On average, research analysts anticipate that Diodes Incorporated will post 2.12 earnings per share for the current year.
Several research firms have commented on DIOD. Robert W. Baird raised Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Friday, April 17th. Wells Fargo & Co lowered their price objective on Diodes from $64.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Cowen started coverage on Diodes in a research report on Thursday, May 21st. They set an “outperform” rating and a $57.00 price objective on the stock. BidaskClub cut Diodes from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Loop Capital started coverage on Diodes in a research report on Tuesday, May 26th. They set a “buy” rating and a $56.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $54.00.
In other Diodes news, Director C H. Chen sold 23,411 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.42, for a total value of $1,180,382.62. Following the transaction, the director now owns 139,268 shares of the company’s stock, valued at $7,021,892.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Julie Holland sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $50.50, for a total value of $101,000.00. Following the completion of the transaction, the vice president now directly owns 73,456 shares in the company, valued at approximately $3,709,528. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,327 shares of company stock worth $5,325,432. 4.60% of the stock is owned by insiders.
Diodes Incorporated, together with its subsidiaries, designs, manufactures, and supplies application-specific standard products in the discrete, logic, and analog and mixed-signal semiconductor markets in Asia, North America, and Europe. It primarily focuses on low pin count semiconductor devices with one or more active or passive components.
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