Allspring Global Investments Holdings LLC Grows Stake in Diodes Incorporated $DIOD

Allspring Global Investments Holdings LLC boosted its position in shares of Diodes Incorporated (NASDAQ:DIOD) by 8.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 254,167 shares of the semiconductor company’s stock after acquiring an additional 18,816 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.55% of Diodes worth $17,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in Diodes by 77.4% during the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 205 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Diodes during the 2nd quarter valued at $30,000. Farther Finance Advisors LLC raised its holdings in Diodes by 51.4% in the 4th quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company’s stock worth $29,000 after purchasing an additional 200 shares during the period. Quarry LP purchased a new position in Diodes during the third quarter valued at $39,000. Finally, Kestra Advisory Services LLC purchased a new position in Diodes during the fourth quarter valued at $40,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

Diodes Stock Up 7.4%

NASDAQ DIOD opened at $93.75 on Wednesday. The stock’s 50 day moving average is $103.07 and its 200 day moving average is $83.10. The company has a current ratio of 3.17, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a 12 month low of $42.28 and a 12 month high of $125.99. The stock has a market cap of $4.31 billion, a PE ratio of 50.95 and a beta of 1.88.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.08. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The business had revenue of $405.47 million during the quarter, compared to analyst estimates of $396.33 million. During the same period last year, the firm posted $0.19 EPS. The company’s revenue was up 22.1% on a year-over-year basis. Research analysts predict that Diodes Incorporated will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Diodes news, CEO Gary Yu sold 3,632 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total value of $399,810.56. Following the sale, the chief executive officer owned 108,147 shares in the company, valued at $11,904,821.76. The trade was a 3.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Andy Tsong sold 1,582 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.95, for a total transaction of $169,194.90. Following the transaction, the senior vice president directly owned 48,170 shares of the company’s stock, valued at $5,151,781.50. This trade represents a 3.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 70,981 shares of company stock worth $7,616,906 in the last 90 days. 1.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DIOD has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Diodes in a research report on Wednesday, July 15th. Zacks Research downgraded Diodes from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Truist Financial increased their target price on shares of Diodes from $98.00 to $139.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Robert W. Baird set a $120.00 target price on shares of Diodes in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.00.

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.