Diodes Incorporated $DIOD Shares Sold by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC cut its Diodes stake by 29.9% in the first quarter, selling 12,062 shares and ending with 28,285 shares worth about $1.93 million.
• Diodes reported better-than-expected quarterly results, with EPS of $0.43 versus $0.35 expected and revenue of $405.47 million, up 22.1% from a year earlier.
• Despite mixed analyst views and recent stock weakness, Wall Street currently rates Diodes Moderate Buy with an average price target of $113, while the stock recently traded down 8.7% to $96.25.

SG Americas Securities LLC lowered its stake in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 29.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,285 shares of the semiconductor company's stock after selling 12,062 shares during the quarter. SG Americas Securities LLC owned about 0.06% of Diodes worth $1,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DIOD. EverSource Wealth Advisors LLC grew its stake in shares of Diodes by 77.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 205 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Diodes during the second quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its holdings in shares of Diodes by 51.4% during the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company's stock worth $29,000 after purchasing an additional 200 shares during the period. MAI Capital Management lifted its holdings in shares of Diodes by 150.0% during the third quarter. MAI Capital Management now owns 685 shares of the semiconductor company's stock worth $36,000 after purchasing an additional 411 shares during the period. Finally, Quarry LP purchased a new position in Diodes in the 3rd quarter valued at $39,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial raised their target price 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. Zacks Research downgraded shares of Diodes from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Finally, Robert W. Baird set a $120.00 price target on shares of Diodes in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $113.00.

Diodes Stock Down 8.7%

Diodes stock opened at $96.25 on Friday. The stock's 50 day moving average price is $106.38 and its 200 day moving average price is $79.18. Diodes Incorporated has a 1-year low of $42.28 and a 1-year high of $125.99. The company has a market cap of $4.42 billion, a PE ratio of 52.31 and a beta of 1.88. 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 released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.43 earnings per share (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 firm had revenue of $405.47 million during the quarter, compared to analysts' expectations of $396.33 million. During the same quarter in the prior year, the business posted $0.19 earnings per share. Diodes's revenue was up 22.1% compared to the same quarter last year. On average, sell-side analysts predict that Diodes Incorporated will post 2.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Diodes news, CTO Francis Tang sold 15,330 shares of the company's stock in a transaction dated 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 transaction, the chief technology officer directly owned 71,438 shares in the company, valued at approximately $8,003,913.52. This represents a 17.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jin Zhao sold 3,689 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $106.86, for a total transaction of $394,206.54. Following the completion of the transaction, the insider directly owned 43,531 shares of the company's stock, valued at approximately $4,651,722.66. This trade represents a 7.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 70,981 shares of company stock worth $7,616,906. Insiders own 1.70% of the company's stock.

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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