Wedge Capital Management L L P NC Reduces Stock Holdings in Diodes Incorporated (NASDAQ:DIOD)

by · The Cerbat Gem

Wedge Capital Management L L P NC cut its position in shares of Diodes Incorporated (NASDAQ:DIOD – Free Report) by 17.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,195 shares of the semiconductor company’s stock after selling 12,529 shares during the period. Wedge Capital Management L L P NC owned approximately 0.13% of Diodes worth $3,730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Diodes by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 5,782,828 shares of the semiconductor company’s stock worth $407,689,000 after purchasing an additional 132,101 shares during the period. Earnest Partners LLC increased its holdings in Diodes by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 2,571,188 shares of the semiconductor company’s stock valued at $184,946,000 after purchasing an additional 36,390 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Diodes by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,913,282 shares of the semiconductor company’s stock valued at $137,620,000 after purchasing an additional 141,610 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Diodes by 0.5% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 851,242 shares of the semiconductor company’s stock worth $61,230,000 after purchasing an additional 4,615 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Diodes by 5.7% during the second quarter. Sei Investments Co. now owns 783,448 shares of the semiconductor company’s stock worth $56,353,000 after buying an additional 42,192 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Diodes

In other news, CEO Keh Shew Lu sold 20,010 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $67.25, for a total transaction of $1,345,672.50. Following the completion of the sale, the chief executive officer now owns 246,492 shares in the company, valued at approximately $16,576,587. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Diodes news, CFO Brett R. Whitmire sold 1,900 shares of Diodes stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $69.99, for a total transaction of $132,981.00. Following the transaction, the chief financial officer now owns 46,365 shares of the company’s stock, valued at $3,245,086.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Keh Shew Lu sold 20,010 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $67.25, for a total value of $1,345,672.50. Following the completion of the sale, the chief executive officer now directly owns 246,492 shares of the company’s stock, valued at $16,576,587. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,182 shares of company stock worth $1,640,921 over the last three months. Insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com lowered Diodes from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Truist Financial reduced their price target on shares of Diodes from $74.00 to $69.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.20.

View Our Latest Stock Report on DIOD

Diodes Price Performance

Diodes stock opened at $63.10 on Wednesday. The stock has a market cap of $2.91 billion, a P/E ratio of 17.19 and a beta of 1.32. The company has a fifty day simple moving average of $63.86 and a 200-day simple moving average of $70.00. The company has a current ratio of 3.38, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a 12-month low of $58.50 and a 12-month high of $86.74.

Diodes (NASDAQ:DIOD – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Diodes had a return on equity of 5.76% and a net margin of 7.12%. The business had revenue of $319.80 million during the quarter, compared to analysts’ expectations of $316.12 million. During the same period in the prior year, the firm posted $1.59 EPS. The business’s quarterly revenue was down 31.5% compared to the same quarter last year. Equities analysts expect that Diodes Incorporated will post 1.55 EPS for the current fiscal year.

Diodes Company Profile

(Free Report)

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.

See Also