Van ECK Associates Corp Acquires Shares of 1,440 Diodes Incorporated (NASDAQ:DIOD)

Van ECK Associates Corp acquired a new stake in shares of Diodes Incorporated (NASDAQ:DIOD – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,440 shares of the semiconductor company’s stock, valued at approximately $110,000.

A number of other hedge funds have also recently bought and sold shares of DIOD. JPMorgan Chase & Co. grew its stake in Diodes by 23.0% during the 1st quarter. JPMorgan Chase & Co. now owns 117,862 shares of the semiconductor company’s stock valued at $10,252,000 after purchasing an additional 22,056 shares in the last quarter. Raymond James & Associates grew its stake in Diodes by 111.4% during the 1st quarter. Raymond James & Associates now owns 8,385 shares of the semiconductor company’s stock valued at $729,000 after purchasing an additional 4,419 shares in the last quarter. Citigroup Inc. grew its stake in Diodes by 11.6% during the 1st quarter. Citigroup Inc. now owns 48,254 shares of the semiconductor company’s stock valued at $4,198,000 after purchasing an additional 5,012 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Diodes by 55.6% during the 1st quarter. MetLife Investment Management LLC now owns 22,875 shares of the semiconductor company’s stock worth $1,990,000 after buying an additional 8,174 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Diodes by 4.9% during the 1st quarter. Rhumbline Advisers now owns 111,144 shares of the semiconductor company’s stock worth $9,668,000 after buying an additional 5,201 shares during the last quarter. Institutional investors and hedge funds own 96.24% of the company’s stock.

Diodes Stock Up 1.0 %

Shares of Diodes stock opened at $93.83 on Friday. The business’s fifty day moving average price is $86.69 and its two-hundred day moving average price is $86.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.87 and a quick ratio of 2.00. The company has a market capitalization of $4.29 billion, a P/E ratio of 13.09 and a beta of 1.48. Diodes Incorporated has a 1-year low of $58.52 and a 1-year high of $97.45.

Diodes (NASDAQ:DIOD – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The semiconductor company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.13. Diodes had a return on equity of 21.67% and a net margin of 16.61%. The company had revenue of $467.24 million for the quarter, compared to analysts’ expectations of $467.03 million. During the same period last year, the firm earned $1.75 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, research analysts forecast that Diodes Incorporated will post 6.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on DIOD. Robert W. Baird increased their target price on Diodes from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, February 7th. StockNews.com began coverage on Diodes in a report on Thursday. They set a “buy” rating on the stock. Truist Financial increased their target price on Diodes from $101.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. Cowen raised their price target on Diodes from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, February 7th. Finally, Wells Fargo & Company cut their price target on Diodes from $95.00 to $85.00 in a report on Wednesday, May 10th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.83.

Insider Activity

In other news, SVP Julie Holland sold 8,075 shares of Diodes stock in a transaction on Wednesday, February 22nd. The stock was 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 in the company, valued at approximately $3,876,804.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Emily Yang sold 2,913 shares of Diodes stock in a transaction on Monday, February 27th. The stock was sold at an average price of $92.05, for a total value of $268,141.65. Following the transaction, the senior vice president now directly owns 66,071 shares in the company, valued at approximately $6,081,835.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Julie Holland sold 8,075 shares of Diodes stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $88.71, for a total value of $716,333.25. Following the completion of the transaction, the senior vice president now owns 43,702 shares in the company, valued at $3,876,804.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,988 shares of company stock worth $2,064,895. 2.60% of the stock is owned by company insiders.

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.