Bank of New York Mellon Corp Decreases Stock Position in Diodes Incorporated (NASDAQ:DIOD)

Bank of New York Mellon Corp lowered its stake in Diodes Incorporated (NASDAQ:DIOD – Get Rating) by 30.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 734,287 shares of the semiconductor company’s stock after selling 329,108 shares during the quarter. Bank of New York Mellon Corp owned about 1.61% of Diodes worth $47,663,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Great West Life Assurance Co. Can grew its holdings in Diodes by 0.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 39,018 shares of the semiconductor company’s stock valued at $3,477,000 after purchasing an additional 148 shares during the last quarter. Truist Financial Corp grew its stake in Diodes by 1.7% in the 3rd quarter. Truist Financial Corp now owns 9,307 shares of the semiconductor company’s stock worth $604,000 after acquiring an additional 155 shares in the last quarter. Captrust Financial Advisors grew its stake in Diodes by 12.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,878 shares of the semiconductor company’s stock worth $121,000 after acquiring an additional 203 shares in the last quarter. Money Concepts Capital Corp grew its stake in Diodes by 8.0% in the 3rd quarter. Money Concepts Capital Corp now owns 2,998 shares of the semiconductor company’s stock worth $195,000 after acquiring an additional 222 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Diodes by 49.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 790 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 96.24% of the company’s stock.

Insiders Place Their Bets

In other Diodes news, SVP Julie Holland sold 8,075 shares of Diodes stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $88.71, for a total transaction of $716,333.25. Following the transaction, the senior vice president now directly owns 43,702 shares of the company’s stock, valued at $3,876,804.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Diodes news, SVP Julie Holland sold 8,075 shares of Diodes stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $88.71, for a total transaction of $716,333.25. Following the transaction, the senior vice president now directly owns 43,702 shares of the company’s stock, valued at $3,876,804.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keh Shew Lu sold 5,000 shares of Diodes stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $97.00, for a total transaction of $485,000.00. Following the transaction, the chief executive officer now directly owns 121,988 shares in the company, valued at $11,832,836. The disclosure for this sale can be found here. Insiders have sold 78,957 shares of company stock valued at $7,357,685 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DIOD shares. Robert W. Baird increased their target price on shares of Diodes from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, February 7th. Truist Financial raised their price target on shares of Diodes from $101.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, February 7th. Wells Fargo & Company increased their price objective on shares of Diodes from $75.00 to $95.00 in a report on Wednesday, February 8th. Benchmark increased their price objective on shares of Diodes from $90.00 to $105.00 and gave the company a “buy” rating in a report on Thursday, February 9th. Finally, StockNews.com raised shares of Diodes from a “hold” rating to a “buy” rating in a report on Wednesday, February 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Diodes currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.50.

Diodes Stock Performance

NASDAQ:DIOD opened at $88.24 on Friday. The company’s 50-day moving average price is $89.15 and its 200-day moving average price is $80.28. The company has a current ratio of 2.69, a quick ratio of 1.85 and a debt-to-equity ratio of 0.09. The company has a market cap of $4.01 billion, a P/E ratio of 12.22 and a beta of 1.49. Diodes Incorporated has a twelve month low of $58.52 and a twelve month high of $97.45.

Diodes (NASDAQ:DIOD – Get Rating) last issued its earnings results on Monday, February 6th. The semiconductor company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.09. Diodes had a net margin of 16.56% and a return on equity of 23.28%. The company had revenue of $496.20 million for the quarter, compared to the consensus estimate of $492.68 million. During the same period in the previous year, the firm earned $1.60 earnings per share. Diodes’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Diodes Incorporated will post 6.41 earnings per share for the current fiscal year.

About Diodes

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Diodes, Inc manufactures and supplies application-specific standard products within the broad discrete, logic, analog, and mixed-signal semiconductor markets. The firm offers diodes, rectifiers, transistors, MOSFETs, protection devices, functional specific arrays, single gate, dual gate and standard logic, amplifiers and comparators, Hall-effect, and temperature sensors.