Bank of America Corp DE Boosts Holdings in Diodes Incorporated (NASDAQ:DIOD)

Bank of America Corp DE increased its holdings in Diodes Incorporated (NASDAQ:DIODGet Rating) by 5.3% during the first quarter, Holdings Channel reports. The firm owned 1,591,538 shares of the semiconductor company’s stock after acquiring an additional 80,081 shares during the quarter. Bank of America Corp DE’s holdings in Diodes were worth $138,447,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in DIOD. Cubist Systematic Strategies LLC increased its stake in Diodes by 164.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 69,046 shares of the semiconductor company’s stock worth $7,582,000 after acquiring an additional 42,917 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Diodes by 6.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 402,407 shares of the semiconductor company’s stock worth $44,189,000 after acquiring an additional 26,042 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Diodes by 11.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 52,905 shares of the semiconductor company’s stock valued at $4,602,000 after purchasing an additional 5,275 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Diodes by 256.1% during the 4th quarter. Allianz Asset Management GmbH now owns 24,712 shares of the semiconductor company’s stock valued at $2,713,000 after purchasing an additional 17,772 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Diodes during the 1st quarter valued at approximately $585,000. 95.57% of the stock is owned by hedge funds and other institutional investors.

Diodes Price Performance

Shares of DIOD stock opened at $64.55 on Friday. Diodes Incorporated has a twelve month low of $58.52 and a twelve month high of $113.98. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 10.30 and a beta of 1.32. The stock has a fifty day simple moving average of $74.71 and a two-hundred day simple moving average of $74.86. The company has a current ratio of 2.43, a quick ratio of 1.69 and a debt-to-equity ratio of 0.16.

Diodes (NASDAQ:DIODGet Rating) last issued its earnings results on Thursday, August 4th. The semiconductor company reported $1.90 earnings per share 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 analysts’ expectations of $501.47 million. During the same period in the prior year, the business earned $1.20 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, analysts predict that Diodes Incorporated will post 7.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brett R. Whitmire sold 600 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $60.00, for a total transaction 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 approximately $1,627,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Brett R. Whitmire sold 600 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $60.00, for a total transaction 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 approximately $1,627,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keh Shew Lu sold 3,000 shares of the company’s stock in a transaction on 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 owns 75,183 shares of the company’s stock, valued at $6,248,459.13. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DIOD shares. Wells Fargo & Company cut their target price on Diodes from $85.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, July 11th. Cowen upped their price objective on Diodes to $95.00 in a research report on Tuesday, August 9th. Finally, StockNews.com downgraded Diodes from a “buy” rating to a “hold” rating in a research report on Wednesday.

About Diodes

(Get Rating)

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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Institutional Ownership by Quarter for Diodes (NASDAQ:DIOD)

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