Prospect Capital Advisors LLC Makes New $2.85 Million Investment in Diodes Incorporated $DIOD

Prospect Capital Advisors LLC acquired a new position in Diodes Incorporated (NASDAQ:DIOD) in the 1st quarter, Holdings Channel reports. The firm acquired 41,800 shares of the semiconductor company’s stock, valued at approximately $2,853,000. Diodes comprises approximately 1.6% of Prospect Capital Advisors LLC’s holdings, making the stock its 23rd biggest holding.

Other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Diodes during the 3rd quarter valued at $37,519,000. Victory Capital Management Inc. boosted its position in Diodes by 901.2% during the 4th quarter. Victory Capital Management Inc. now owns 509,630 shares of the semiconductor company’s stock worth $25,145,000 after purchasing an additional 458,727 shares during the period. Invesco Ltd. increased its holdings in Diodes by 183.0% in the 3rd quarter. Invesco Ltd. now owns 519,013 shares of the semiconductor company’s stock valued at $27,617,000 after purchasing an additional 335,644 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Diodes by 132.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 402,105 shares of the semiconductor company’s stock valued at $21,267,000 after purchasing an additional 228,976 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in Diodes by 671.4% in the third quarter. Lazard Asset Management LLC now owns 220,951 shares of the semiconductor company’s stock valued at $11,757,000 after purchasing an additional 192,309 shares during the period. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Diodes Trading Up 0.4%

Shares of NASDAQ DIOD opened at $82.32 on Friday. The company has a quick ratio of 1.97, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $100.95 and its two-hundred day moving average price is $84.69. Diodes Incorporated has a 52-week low of $42.28 and a 52-week high of $125.99. The stock has a market capitalization of $3.78 billion, a P/E ratio of 44.74 and a beta of 1.88.

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

Insider Transactions at Diodes

In other Diodes news, CEO Gary Yu sold 3,632 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 value of $399,810.56. Following the completion of the transaction, the chief executive officer owned 108,147 shares of the company’s stock, valued at $11,904,821.76. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jin Zhao sold 3,689 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $106.86, for a total transaction of $394,206.54. Following the sale, the insider owned 43,531 shares of the company’s stock, valued at approximately $4,651,722.66. The trade was a 7.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 70,981 shares of company stock valued at $7,616,906 over the last quarter. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

DIOD has been the topic of a number of recent research reports. Robert W. Baird set a $120.00 price objective on Diodes in a research note on Friday, May 8th. Zacks Research lowered 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 Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Diodes in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.00.

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.