Diodes Incorporated $DIOD Stake Lifted by Fifth Third Bancorp

Fifth Third Bancorp lifted its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 6,665.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,425 shares of the semiconductor company’s stock after acquiring an additional 37,857 shares during the quarter. Fifth Third Bancorp’s holdings in Diodes were worth $2,623,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DIOD. Vanguard Group Inc. boosted its stake in Diodes by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 6,154,859 shares of the semiconductor company’s stock valued at $303,681,000 after purchasing an additional 166,603 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Diodes by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 1,350,436 shares of the semiconductor company’s stock valued at $66,640,000 after buying an additional 11,799 shares during the period. Global Alpha Capital Management Ltd. boosted its stake in Diodes by 1.6% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 855,090 shares of the semiconductor company’s stock valued at $42,190,000 after buying an additional 13,420 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Diodes by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 797,316 shares of the semiconductor company’s stock worth $39,340,000 after acquiring an additional 17,506 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Diodes in the third quarter worth about $37,519,000. Institutional investors own 99.23% of the company’s stock.

Diodes Trading Up 0.3%

NASDAQ:DIOD opened at $87.27 on Tuesday. The stock has a fifty day simple moving average of $103.26 and a 200 day simple moving average of $82.79. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 47.43 and a beta of 1.88. Diodes Incorporated has a 1-year low of $42.28 and a 1-year high of $125.99. The company has a quick ratio of 1.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD) last posted its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.43 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 company had revenue of $405.47 million during the quarter, compared to analyst estimates of $396.33 million. During the same period in the prior year, the firm earned $0.19 earnings per share. The business’s quarterly revenue was up 22.1% on a year-over-year basis. Sell-side analysts forecast that Diodes Incorporated will post 2.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DIOD shares. Weiss Ratings restated a “hold (c)” rating on shares of Diodes in a research report on Wednesday, July 15th. Zacks Research lowered shares of Diodes from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Truist Financial raised 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 price target on shares of Diodes in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

Insider Activity

In related news, CEO Gary Yu sold 3,632 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $110.08, for a total value of $399,810.56. Following the completion of the sale, the chief executive officer directly owned 108,147 shares of the company’s stock, valued at approximately $11,904,821.76. This represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett R. Whitmire sold 16,556 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $103.34, for a total transaction of $1,710,897.04. Following the completion of the sale, the chief financial officer directly owned 44,632 shares of the company’s stock, valued at $4,612,270.88. This trade represents a 27.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 70,981 shares of company stock valued at $7,616,906 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Diodes Company 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.