Pzena Investment Management LLC trimmed its holdings in shares of Diodes Incorporated (NASDAQ:DIOD) by 95.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,273 shares of the semiconductor company’s stock after selling 893,890 shares during the period. Pzena Investment Management LLC owned about 0.09% of Diodes worth $1,355,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. State of Alaska Department of Revenue lifted its position in shares of Diodes by 79.1% during the second quarter. State of Alaska Department of Revenue now owns 7,542 shares of the semiconductor company’s stock worth $181,000 after purchasing an additional 3,332 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Diodes during the third quarter worth $206,000. Public Employees Retirement System of Ohio lifted its position in shares of Diodes by 10.1% during the first quarter. Public Employees Retirement System of Ohio now owns 8,745 shares of the semiconductor company’s stock worth $210,000 after purchasing an additional 800 shares in the last quarter. Virtu KCG Holdings LLC lifted its position in shares of Diodes by 8.0% during the second quarter. Virtu KCG Holdings LLC now owns 10,997 shares of the semiconductor company’s stock worth $264,000 after purchasing an additional 815 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in shares of Diodes during the second quarter worth $265,000. 73.58% of the stock is currently owned by hedge funds and other institutional investors.
In other Diodes news, VP Shiao Kwang Edmund Tang sold 27,877 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $30.29, for a total transaction of $844,394.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C H. Chen sold 30,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $28.25, for a total transaction of $847,500.00. Following the sale, the director now owns 509,979 shares of the company’s stock, valued at approximately $14,406,906.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 639,852 shares of company stock valued at $18,535,405. Insiders own 7.00% of the company’s stock.
A number of research analysts have recently commented on DIOD shares. Zacks Investment Research raised shares of Diodes from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, August 11th. Sidoti started coverage on shares of Diodes in a research report on Thursday, September 21st. They set a “neutral” rating and a $32.00 target price on the stock. Cleveland Research cut shares of Diodes from a “buy” rating to a “neutral” rating in a research report on Thursday, July 20th. Benchmark Co. cut shares of Diodes from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Robert W. Baird reissued a “buy” rating and set a $37.00 target price on shares of Diodes in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Diodes presently has an average rating of “Hold” and a consensus target price of $35.67.
Shares of Diodes Incorporated (DIOD) traded up $0.27 during trading hours on Friday, hitting $31.79. 396,400 shares of the company were exchanged, compared to its average volume of 368,354. The company has a current ratio of 3.12, a quick ratio of 2.54 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1,570.11, a price-to-earnings ratio of 28.90 and a beta of 1.23. Diodes Incorporated has a fifty-two week low of $20.70 and a fifty-two week high of $35.36.
Diodes (NASDAQ:DIOD) last issued its quarterly earnings results on Tuesday, November 7th. The semiconductor company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $285.20 million during the quarter, compared to analyst estimates of $281.66 million. Diodes had a net margin of 2.96% and a return on equity of 6.44%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. analysts forecast that Diodes Incorporated will post 1.35 earnings per share for the current fiscal year.
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Diodes Incorporated is a manufacturer and supplier of application-specific standard products within the discrete, logic, analog and mixed-signal semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. The Company’s products include diodes; rectifiers; transistors; metal-oxide semiconductor field-effect transistors (MOSFETs); protection devices; amplifiers and comparators; Hall-effect and temperature sensors, and power management devices, including light emitting diode (LED) drivers, alternating current (AC)-direct current (DC) and DC-DC switching, linear voltage regulators and voltage references, along with special function devices, such as universal serial bus (USB) power switches, load switches, voltage supervisors and motor controllers.
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