Morgan Stanley Increases Stake in Diodes Incorporated (DIOD)
Morgan Stanley increased its position in Diodes Incorporated (NASDAQ:DIOD) by 3.2% during the first quarter, Holdings Channel reports. The institutional investor owned 175,221 shares of the semiconductor company’s stock after buying an additional 5,464 shares during the period. Morgan Stanley’s holdings in Diodes were worth $4,213,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in Diodes by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,986,380 shares of the semiconductor company’s stock worth $71,822,000 after buying an additional 219,293 shares in the last quarter. Vanguard Group Inc. boosted its position in Diodes by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,356,058 shares of the semiconductor company’s stock worth $80,713,000 after buying an additional 165,243 shares in the last quarter. Legato Capital Management LLC boosted its position in Diodes by 2,305.0% in the first quarter. Legato Capital Management LLC now owns 110,125 shares of the semiconductor company’s stock worth $4,579,000 after buying an additional 105,546 shares in the last quarter. TFS Capital LLC bought a new position in Diodes during the first quarter worth approximately $1,199,000. Finally, Bank of New York Mellon Corp boosted its position in Diodes by 10.6% in the first quarter. Bank of New York Mellon Corp now owns 491,649 shares of the semiconductor company’s stock worth $11,825,000 after buying an additional 47,034 shares in the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.
Shares of Diodes Incorporated (DIOD) traded up 0.26% during midday trading on Friday, hitting $26.49. 390,905 shares of the stock were exchanged. The firm has a 50-day moving average of $25.68 and a 200-day moving average of $24.94. Diodes Incorporated has a 1-year low of $18.67 and a 1-year high of $27.50. The company has a market capitalization of $1.30 billion, a P/E ratio of 50.17 and a beta of 1.22.
Diodes (NASDAQ:DIOD) last posted its earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Diodes had a net margin of 2.68% and a return on equity of 5.64%. The firm had revenue of $264.20 million during the quarter, compared to analyst estimates of $261.15 million. During the same period last year, the firm posted $0.20 earnings per share. Diodes’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts expect that Diodes Incorporated will post $1.30 EPS for the current year.
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A number of equities analysts have commented on DIOD shares. Zacks Investment Research raised shares of Diodes from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Friday, May 12th. Cleveland Research cut shares of Diodes from a “buy” rating to a “neutral” rating in a research note on Thursday, July 20th. BidaskClub cut shares of Diodes from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Diodes in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $30.00.
In related news, VP Francis Tang sold 2,200 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $26.66, for a total value of $58,652.00. Following the completion of the transaction, the vice president now directly owns 69,943 shares of the company’s stock, valued at $1,864,680.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Keh Shew Lu sold 93,765 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $26.15, for a total transaction of $2,451,954.75. Following the completion of the transaction, the chief executive officer now directly owns 1,134,291 shares of the company’s stock, valued at $29,661,709.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 284,513 shares of company stock valued at $7,428,620. 6.70% of the stock is currently owned by insiders.
Diodes Incorporated is a manufacturer and supplier of application-specific standard products within the discrete, logic, analog and mixed-signal semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. The Company’s products include diodes; rectifiers; transistors; metal-oxide semiconductor field-effect transistors (MOSFETs); protection devices; amplifiers and comparators; Hall-effect and temperature sensors, and power management devices, including light emitting diode (LED) drivers, alternating current (AC)-direct current (DC) and DC-DC switching, linear voltage regulators and voltage references, along with special function devices, such as universal serial bus (USB) power switches, load switches, voltage supervisors and motor controllers.
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