Diodes Incorporated (DIOD) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp boosted its stake in Diodes Incorporated (NASDAQ:DIOD) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 492,335 shares of the semiconductor company’s stock after purchasing an additional 686 shares during the quarter. Bank of New York Mellon Corp owned about 1.02% of Diodes worth $11,831,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its stake in Diodes by 0.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,600 shares of the semiconductor company’s stock worth $375,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System lifted its stake in Diodes by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 19,975 shares of the semiconductor company’s stock worth $480,000 after purchasing an additional 100 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Diodes by 1.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,325 shares of the semiconductor company’s stock worth $296,000 after purchasing an additional 148 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Diodes by 1.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,220 shares of the semiconductor company’s stock worth $342,000 after purchasing an additional 250 shares in the last quarter. Finally, Texas Permanent School Fund lifted its stake in Diodes by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 27,901 shares of the semiconductor company’s stock worth $670,000 after purchasing an additional 274 shares in the last quarter. Institutional investors and hedge funds own 73.74% of the company’s stock.
Shares of Diodes Incorporated (NASDAQ DIOD) opened at 28.81 on Monday. The stock has a market capitalization of $1.41 billion, a PE ratio of 54.56 and a beta of 1.22. Diodes Incorporated has a 12 month low of $19.64 and a 12 month high of $28.97. The stock’s 50 day moving average is $27.17 and its 200 day moving average is $25.38.
Diodes (NASDAQ:DIOD) last posted its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $264.20 million for the quarter, compared to the consensus estimate of $261.15 million. Diodes had a net margin of 2.68% and a return on equity of 5.64%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.20 earnings per share. Analysts anticipate that Diodes Incorporated will post $1.28 earnings per share for the current fiscal year.
In other news, major shareholder Semiconductor Corp Lite-On sold 1,184 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $27.01, for a total value of $31,979.84. Following the transaction, the insider now directly owns 7,879,291 shares of the company’s stock, valued at $212,819,649.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Francis Tang sold 11,957 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $28.33, for a total transaction of $338,741.81. Following the completion of the transaction, the vice president now directly owns 71,429 shares in the company, valued at $2,023,583.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 310,508 shares of company stock worth $8,369,544. Insiders own 7.00% of the company’s stock.
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DIOD has been the topic of several research analyst reports. Cleveland Research cut shares of Diodes from a “buy” rating to a “neutral” rating in a research note on Thursday, July 20th. Zacks Investment Research cut shares of Diodes from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub cut shares of Diodes from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Sidoti started coverage on shares of Diodes in a research report on Thursday. They set a “neutral” rating and a $32.00 target price on the stock. Finally, Robert W. Baird restated an “outperform” rating and set a $30.00 target price on shares of Diodes in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Diodes presently has a consensus rating of “Hold” and an average price target of $30.67.
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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