69,378 Shares in Diodes Incorporated $DIOD Bought by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management initiated a new position in Diodes Incorporated in the fourth quarter, buying 69,378 shares valued at about $3.42 million.
• Diodes posted a stronger-than-expected quarterly report, with EPS of $0.43 versus $0.35 expected and revenue of $405.47 million, up 22.1% from a year earlier.
• Analyst sentiment has improved, with multiple firms raising ratings or price targets; the stock now carries a consensus Buy rating and an average target price of $113.

Brandywine Global Investment Management LLC bought a new position in Diodes Incorporated (NASDAQ:DIOD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 69,378 shares of the semiconductor company's stock, valued at approximately $3,423,000. Brandywine Global Investment Management LLC owned about 0.15% of Diodes as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Global Alpha Capital Management Ltd. grew its holdings in shares of Diodes by 1.6% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 855,090 shares of the semiconductor company's stock worth $42,190,000 after acquiring an additional 13,420 shares during the last quarter. State of Wyoming boosted its position in shares of Diodes by 125.7% in the fourth quarter. State of Wyoming now owns 7,936 shares of the semiconductor company's stock worth $392,000 after buying an additional 4,420 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Diodes by 25.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 656,605 shares of the semiconductor company's stock worth $32,397,000 after buying an additional 134,389 shares during the period. Natixis Advisors LLC boosted its position in shares of Diodes by 4.7% in the fourth quarter. Natixis Advisors LLC now owns 21,126 shares of the semiconductor company's stock worth $1,042,000 after buying an additional 941 shares during the period. Finally, Easterly Investment Partners LLC boosted its position in shares of Diodes by 2.9% in the fourth quarter. Easterly Investment Partners LLC now owns 13,848 shares of the semiconductor company's stock worth $683,000 after buying an additional 391 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Diodes Price Performance

Shares of NASDAQ:DIOD opened at $100.45 on Thursday. Diodes Incorporated has a fifty-two week low of $42.28 and a fifty-two week high of $121.96. The business has a 50-day moving average of $97.29 and a two-hundred day moving average of $72.23. The stock has a market capitalization of $4.61 billion, a P/E ratio of 54.59 and a beta of 1.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 1.97.

Diodes (NASDAQ:DIOD - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.08. The company had revenue of $405.47 million during the quarter, compared to analysts' expectations of $396.33 million. Diodes had a return on equity of 3.48% and a net margin of 5.50%.The business's quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. On average, equities research analysts predict that Diodes Incorporated will post 2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DIOD shares. Wall Street Zen raised Diodes from a "hold" rating to a "buy" rating in a research report on Saturday, February 14th. Robert W. Baird set a $120.00 price objective on Diodes in a research report on Friday, May 8th. Benchmark lifted their price objective on Diodes from $62.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, February 11th. Truist Financial lifted their price objective on Diodes from $98.00 to $139.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Finally, Zacks Research raised Diodes from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $113.00.

Insiders Place Their Bets

In other news, CTO Francis Tang sold 15,330 shares of Diodes stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $112.04, for a total value of $1,717,573.20. Following the transaction, the chief technology officer directly owned 71,438 shares in the company, valued at approximately $8,003,913.52. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jin Zhao sold 3,689 shares of Diodes stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $106.86, for a total value of $394,206.54. Following the completion of the transaction, the insider owned 43,531 shares in the company, valued at $4,651,722.66. The trade was a 7.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 70,981 shares of company stock valued at $7,616,906 in the last ninety days. Company insiders own 1.70% of the company's stock.

Diodes 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.

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