Bank of New York Mellon Corp Has $43.46 Million Holdings in Diodes Incorporated (NASDAQ:DIOD)

Bank of New York Mellon Corp raised its holdings in Diodes Incorporated (NASDAQ:DIOD) by 27.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 604,153 shares of the semiconductor company’s stock after acquiring an additional 129,195 shares during the period. Bank of New York Mellon Corp owned about 1.31% of Diodes worth $43,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of Diodes in the 4th quarter valued at approximately $30,000. EntryPoint Capital LLC acquired a new stake in shares of Diodes during the first quarter worth $40,000. Riverview Trust Co bought a new stake in Diodes in the 1st quarter valued at $51,000. Principal Securities Inc. acquired a new position in Diodes in the 4th quarter worth $74,000. Finally, NBC Securities Inc. increased its holdings in Diodes by 62.3% during the 1st quarter. NBC Securities Inc. now owns 1,227 shares of the semiconductor company’s stock worth $86,000 after purchasing an additional 471 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Keh Shew Lu sold 20,010 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 246,492 shares of the company’s stock, valued at approximately $16,576,587. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Diodes news, SVP Emily Yang sold 1,272 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $72.16, for a total value of $91,787.52. Following the transaction, the senior vice president now directly owns 29,028 shares in the company, valued at $2,094,660.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Keh Shew Lu sold 20,010 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 246,492 shares in the company, valued at $16,576,587. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DIOD shares. Robert W. Baird upped their price objective on Diodes from $56.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Truist Financial reduced their price target on Diodes from $74.00 to $69.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, StockNews.com downgraded shares of Diodes from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. One research 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. Based on data from MarketBeat, Diodes has a consensus rating of “Hold” and an average target price of $73.20.

Diodes Stock Performance

Shares of NASDAQ DIOD opened at $69.69 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 3.38. The stock has a 50 day moving average price of $72.70 and a 200 day moving average price of $71.34. The stock has a market capitalization of $3.23 billion, a PE ratio of 18.99 and a beta of 1.35. Diodes Incorporated has a 52 week low of $58.96 and a 52 week high of $86.74.

Diodes (NASDAQ:DIOD) last released its quarterly earnings data on Thursday, August 8th. The semiconductor company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $319.80 million during the quarter, compared to the consensus estimate of $316.12 million. Diodes had a return on equity of 5.76% and a net margin of 7.12%. The firm’s revenue for the quarter was down 31.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.59 EPS. Analysts predict that Diodes Incorporated will post 1.6 earnings per share for the current fiscal year.

About Diodes

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.