Hodges Capital Management Inc. Buys New Position in Diodes Incorporated $DIOD

Hodges Capital Management Inc. purchased a new position in shares of Diodes Incorporated (NASDAQ:DIOD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 36,994 shares of the semiconductor company’s stock, valued at approximately $1,968,000. Hodges Capital Management Inc. owned about 0.08% of Diodes at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Diodes by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,988,256 shares of the semiconductor company’s stock valued at $318,635,000 after acquiring an additional 49,379 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its position in Diodes by 56.9% during the second quarter. Global Alpha Capital Management Ltd. now owns 846,070 shares of the semiconductor company’s stock worth $44,749,000 after buying an additional 306,900 shares during the period. Tributary Capital Management LLC increased its stake in shares of Diodes by 92.5% during the 3rd quarter. Tributary Capital Management LLC now owns 646,240 shares of the semiconductor company’s stock valued at $34,386,000 after acquiring an additional 310,500 shares during the last quarter. JPMorgan Chase & Co. increased its position in Diodes by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 464,429 shares of the semiconductor company’s stock worth $24,712,000 after purchasing an additional 153,905 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Diodes by 17.2% during the 2nd quarter. Bank of America Corp DE now owns 417,448 shares of the semiconductor company’s stock worth $22,079,000 after buying an additional 61,177 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

Analyst Ratings Changes

DIOD has been the topic of several research reports. Wall Street Zen upgraded shares of Diodes from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial upped their price objective on shares of Diodes from $54.00 to $67.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. Zacks Research downgraded Diodes from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Weiss Ratings raised shares of Diodes from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Finally, Benchmark raised their price objective on shares of Diodes from $62.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Diodes has a consensus rating of “Hold” and an average price target of $65.67.

Diodes Stock Performance

Shares of DIOD opened at $67.54 on Wednesday. The firm has a fifty day moving average of $56.44 and a 200-day moving average of $53.43. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 47.56 and a beta of 1.66. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.08 and a current ratio of 3.32. Diodes Incorporated has a 1 year low of $32.93 and a 1 year high of $81.71.

Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Tuesday, February 10th. The semiconductor company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.08. The firm had revenue of $391.58 million for the quarter, compared to the consensus estimate of $380.03 million. Diodes had a net margin of 4.46% and a return on equity of 2.95%. Diodes’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. As a group, equities analysts anticipate that Diodes Incorporated will post 1.82 earnings per share for the current year.

Insiders Place Their Bets

In other Diodes news, insider Jin Zhao sold 525 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $59.19, for a total transaction of $31,074.75. Following the completion of the transaction, the insider owned 49,980 shares in the company, valued at approximately $2,958,316.20. The trade was a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary Yu sold 2,900 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $60.85, for a total value of $176,465.00. Following the transaction, the chief executive officer directly owned 111,671 shares in the company, valued at $6,795,180.35. This trade represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 5,205 shares of company stock worth $315,853. 2.30% of the stock is currently owned by corporate insiders.

Diodes Profile

Diodes Incorporated (NASDAQ: DIOD) is a global manufacturer and supplier of high‐performance discrete, logic, analog and mixed‐signal semiconductor products. Headquartered in Plano, Texas, the company designs and develops a broad range of discrete components, standard logic functions, power management circuits, interface products and array products. Its portfolio includes rectifiers, MOSFETs, general‐purpose diodes, voltage regulators, comparators, buffers and other building blocks for electronic systems.

Diodes Incorporated serves a variety of end markets such as automotive, computing, communications, consumer electronics, industrial and lighting.