Pitcairn Co. Increases Stake in Diodes Incorporated (NASDAQ:DIOD)

Pitcairn Co. lifted its position in Diodes Incorporated (NASDAQ:DIOD) by 9.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,723 shares of the semiconductor company’s stock after purchasing an additional 408 shares during the period. Pitcairn Co.’s holdings in Diodes were worth $333,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DIOD. CANADA LIFE ASSURANCE Co grew its holdings in Diodes by 5.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 38,600 shares of the semiconductor company’s stock worth $2,716,000 after acquiring an additional 1,901 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Diodes by 7.4% during the first quarter. Bessemer Group Inc. now owns 144,875 shares of the semiconductor company’s stock worth $10,213,000 after purchasing an additional 9,924 shares during the period. UniSuper Management Pty Ltd purchased a new stake in shares of Diodes during the first quarter worth about $697,000. Seven Eight Capital LP bought a new stake in shares of Diodes in the first quarter worth about $1,055,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in Diodes by 5.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,245 shares of the semiconductor company’s stock valued at $299,000 after purchasing an additional 224 shares during the period. 99.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Diodes

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

Analysts Set New Price Targets

DIOD has been the subject of several research analyst reports. Robert W. Baird increased their price objective on Diodes from $56.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Truist Financial lifted their price target on shares of Diodes from $67.00 to $74.00 and gave the company a “hold” rating in a research report 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 data from MarketBeat.com, Diodes currently has a consensus rating of “Hold” and a consensus target price of $74.20.

Diodes Stock Down 1.9 %

Shares of NASDAQ DIOD traded down $1.54 during midday trading on Thursday, reaching $78.56. 358,528 shares of the company’s stock traded hands, compared to its average volume of 333,661. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 21.86 and a beta of 1.36. The stock’s 50 day simple moving average is $75.02 and its 200-day simple moving average is $71.52. The company has a quick ratio of 2.05, a current ratio of 3.18 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a one year low of $60.00 and a one year high of $94.93.

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

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.