Diodes Incorporated (NASDAQ:DIOD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in Diodes Incorporated (NASDAQ:DIOD) by 6.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,880 shares of the semiconductor company’s stock after selling 19,058 shares during the period. Bank of New York Mellon Corp owned about 0.64% of Diodes worth $12,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its position in Diodes by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 230,728 shares of the semiconductor company’s stock valued at $9,961,000 after purchasing an additional 5,931 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Diodes by 19.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 18,768 shares of the semiconductor company’s stock valued at $810,000 after purchasing an additional 3,092 shares in the last quarter. GAMMA Investing LLC raised its position in Diodes by 4,211.7% in the 1st quarter. GAMMA Investing LLC now owns 35,313 shares of the semiconductor company’s stock valued at $1,524,000 after purchasing an additional 34,494 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Diodes in the 1st quarter valued at about $952,000. Finally, Vanguard Group Inc. increased its holdings in shares of Diodes by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 5,910,766 shares of the semiconductor company’s stock valued at $364,517,000 after acquiring an additional 102,263 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

Diodes Trading Down 0.8%

NASDAQ:DIOD opened at $54.98 on Monday. The stock’s 50 day moving average price is $50.94 and its 200 day moving average price is $49.47. The company has a market capitalization of $2.55 billion, a PE ratio of 99.96 and a beta of 1.46. The company has a quick ratio of 2.11, a current ratio of 3.43 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a 52-week low of $32.93 and a 52-week high of $84.03.

Diodes (NASDAQ:DIOD) last released its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $332.11 million for the quarter, compared to the consensus estimate of $323.28 million. Diodes had a return on equity of 3.04% and a net margin of 1.90%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. On average, research analysts anticipate that Diodes Incorporated will post 1.82 EPS for the current year.

Diodes announced that its board has authorized a share repurchase program on Thursday, May 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

DIOD has been the topic of a number of recent analyst reports. Baird R W upgraded Diodes from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. Robert W. Baird upgraded Diodes from a “neutral” rating to an “outperform” rating and set a $50.00 price objective on the stock in a report on Monday, April 7th. Benchmark reiterated a “buy” rating and issued a $62.00 price objective (up previously from $55.00) on shares of Diodes in a report on Friday, June 13th. Finally, Wall Street Zen upgraded Diodes from a “hold” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Diodes presently has an average rating of “Buy” and an average target price of $55.00.

Diodes Company Profile

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.