Hodges Capital Management Inc. Sells 70,517 Shares of Diodes Incorporated (NASDAQ:DIOD)

Hodges Capital Management Inc. cut its stake in Diodes Incorporated (NASDAQ:DIOD) by 36.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,903 shares of the semiconductor company’s stock after selling 70,517 shares during the period. Hodges Capital Management Inc.’s holdings in Diodes were worth $8,805,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in shares of Diodes by 3.4% during the third quarter. PNC Financial Services Group Inc. now owns 8,440 shares of the semiconductor company’s stock valued at $665,000 after purchasing an additional 274 shares during the period. Kestra Advisory Services LLC boosted its holdings in Diodes by 18.4% in the third quarter. Kestra Advisory Services LLC now owns 8,676 shares of the semiconductor company’s stock worth $684,000 after acquiring an additional 1,348 shares in the last quarter. FMR LLC grew its stake in Diodes by 14.1% in the third quarter. FMR LLC now owns 912,667 shares of the semiconductor company’s stock valued at $71,955,000 after acquiring an additional 112,620 shares during the period. Federated Hermes Inc. increased its holdings in shares of Diodes by 30.4% during the third quarter. Federated Hermes Inc. now owns 24,807 shares of the semiconductor company’s stock valued at $1,956,000 after acquiring an additional 5,786 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Diodes by 108.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,203 shares of the semiconductor company’s stock worth $1,277,000 after purchasing an additional 8,445 shares during the period. 99.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Peter M. Menard sold 630 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $71.96, for a total value of $45,334.80. Following the transaction, the director now directly owns 18,050 shares of the company’s stock, valued at approximately $1,298,878. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Diodes news, Director Peter M. Menard sold 630 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $71.96, for a total transaction of $45,334.80. Following the sale, the director now directly owns 18,050 shares of the company’s stock, valued at $1,298,878. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Keh Shew Lu sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $75.30, for a total transaction of $1,129,500.00. Following the sale, the chief executive officer now directly owns 87,331 shares in the company, valued at $6,576,024.30. The disclosure for this sale can be found here. Insiders have sold 30,630 shares of company stock valued at $2,272,715 in the last three months. 2.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DIOD shares. Robert W. Baird lifted their price target on shares of Diodes from $56.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. Truist Financial boosted their price target on shares of Diodes from $67.00 to $74.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $74.20.

Diodes Stock Up 1.8 %

DIOD traded up $1.24 during mid-day trading on Friday, reaching $71.93. 1,686,650 shares of the stock were exchanged, compared to its average volume of 233,412. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.05 and a current ratio of 3.18. The stock has a market capitalization of $3.32 billion, a PE ratio of 19.60 and a beta of 1.39. The company has a 50 day moving average price of $72.60 and a two-hundred day moving average price of $71.50. Diodes Incorporated has a 1 year low of $60.00 and a 1 year high of $96.68.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings data on Thursday, May 9th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $301.90 million for the quarter, compared to the consensus estimate of $305.47 million. Diodes had a net margin of 11.36% and a return on equity of 9.11%. The business’s revenue for the quarter was down 35.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 EPS. As a group, research analysts anticipate that Diodes Incorporated will post 1.8 EPS for the current year.

Diodes 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.