Summit Global Investments Boosts Stock Position in Diodes Incorporated $DIOD

Summit Global Investments lifted its stake in Diodes Incorporated (NASDAQ:DIOD) by 365.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,927 shares of the semiconductor company’s stock after acquiring an additional 15,650 shares during the period. Summit Global Investments’ holdings in Diodes were worth $1,360,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors raised its stake in shares of Diodes by 3.1% during the 4th quarter. Captrust Financial Advisors now owns 4,882 shares of the semiconductor company’s stock valued at $241,000 after purchasing an additional 145 shares during the period. Verdence Capital Advisors LLC grew its holdings in Diodes by 2.3% during the 4th quarter. Verdence Capital Advisors LLC now owns 8,430 shares of the semiconductor company’s stock valued at $416,000 after buying an additional 186 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Diodes by 51.4% during the 4th quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 200 shares in the last quarter. Strs Ohio increased its position in shares of Diodes by 2.2% during the fourth quarter. Strs Ohio now owns 9,100 shares of the semiconductor company’s stock valued at $449,000 after buying an additional 200 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of 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 period. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DIOD has been the subject of a number of analyst reports. Zacks Research lowered shares of Diodes from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Robert W. Baird set a $120.00 target price on shares of Diodes in a report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Diodes in a report on Wednesday, July 15th. Finally, 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 research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.00.

Insider Activity

In other news, SVP Emily Yang sold 3,000 shares of Diodes stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total transaction of $330,240.00. Following the completion of the sale, the senior vice president directly owned 61,878 shares of the company’s stock, valued at approximately $6,811,530.24. The trade was a 4.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Andy Tsong sold 1,582 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $106.95, for a total transaction of $169,194.90. Following the completion of the transaction, the senior vice president owned 48,170 shares of the company’s stock, valued at $5,151,781.50. This trade represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 70,981 shares of company stock worth $7,616,906. Corporate insiders own 1.70% of the company’s stock.

Diodes Price Performance

Shares of NASDAQ DIOD opened at $87.27 on Tuesday. The stock’s 50-day simple moving average is $103.26 and its two-hundred day simple moving average is $82.79. Diodes Incorporated has a twelve month low of $42.28 and a twelve month high of $125.99. The firm has a market capitalization of $4.01 billion, a P/E ratio of 47.43 and a beta of 1.88. 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 issued its quarterly earnings results 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. The firm had revenue of $405.47 million during the quarter, compared to the consensus estimate of $396.33 million. Diodes had a return on equity of 3.48% and a net margin of 5.50%.The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. As a group, equities analysts anticipate that Diodes Incorporated will post 2.58 EPS for the current fiscal year.

About Diodes

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.