Diodes Incorporated $DIOD Shares Sold by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital cut its Diodes stake by 27.8% in the first quarter, selling 170,675 shares and retaining 443,123 shares worth approximately $30.2 million. Institutional investors collectively own 99.23% of the company.
• Analyst sentiment remains positive overall, with three Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $113. Truist raised its target to $139, while Zacks downgraded the stock to Hold.
• Diodes reported first-quarter EPS of $0.43, exceeding estimates by $0.08, while revenue rose 22.1% year over year to $405.47 million. However, company insiders sold 70,981 shares worth $7.6 million over the past three months.

Arrowstreet Capital Limited Partnership reduced its stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 27.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,123 shares of the semiconductor company's stock after selling 170,675 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.96% of Diodes worth $30,248,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DIOD. Sei Investments Co. increased its holdings in shares of Diodes by 191.2% in the 1st quarter. Sei Investments Co. now owns 96,100 shares of the semiconductor company's stock valued at $6,560,000 after acquiring an additional 63,102 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Diodes by 56.7% during the 1st quarter. Cetera Investment Advisers now owns 6,726 shares of the semiconductor company's stock valued at $459,000 after acquiring an additional 2,433 shares in the last quarter. NewEdge Wealth LLC bought a new position in Diodes during the first quarter worth $213,000. First Trust Advisors LP lifted its stake in Diodes by 56.0% during the first quarter. First Trust Advisors LP now owns 65,577 shares of the semiconductor company's stock worth $4,476,000 after purchasing an additional 23,532 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Diodes by 7.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,494 shares of the semiconductor company's stock worth $443,000 after purchasing an additional 460 shares during the period. Institutional investors own 99.23% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DIOD. Truist Financial increased their price objective 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. Robert W. Baird set a $120.00 target price on Diodes in a research note on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Diodes in a report on Wednesday, July 15th. Finally, Zacks Research lowered shares of Diodes from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $113.00.

Insider Activity at Diodes

In other Diodes news, CTO Francis Tang sold 15,330 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $112.04, for a total transaction of $1,717,573.20. Following the sale, the chief technology officer directly owned 71,438 shares of the company's stock, valued at $8,003,913.52. The trade was a 17.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary Yu sold 3,632 shares of the company's stock in a transaction dated 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 in the company, valued at $11,904,821.76. This represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 70,981 shares of company stock worth $7,616,906. 1.70% of the stock is owned by corporate insiders.

Diodes Stock Performance

Shares of DIOD opened at $76.09 on Thursday. The firm has a 50-day moving average price of $101.58 and a 200 day moving average price of $84.52. 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 firm has a market capitalization of $3.50 billion, a PE ratio of 41.35 and a beta of 1.88. Diodes Incorporated has a 52-week low of $42.28 and a 52-week high of $125.99.

Diodes (NASDAQ:DIOD - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.08. The company had revenue of $405.47 million for 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 firm's revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $0.19 EPS. On average, sell-side analysts anticipate that Diodes Incorporated will post 2.58 earnings per share for the current fiscal year.

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.

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