Emerald Mutual Fund Advisers Trust Acquires New Stake in Diodes Incorporated $DIOD

Key Points

• Emerald Mutual Fund Advisers Trust opened a new position in Diodes Incorporated during the first quarter, buying 114,097 shares valued at about $7.8 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% year over year.
• Analysts remain mixed but broadly positive: the stock has a Moderate Buy consensus with an average price target of $113, even as some insiders have recently sold shares.

Emerald Mutual Fund Advisers Trust bought a new stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 114,097 shares of the semiconductor company's stock, valued at approximately $7,788,000. Emerald Mutual Fund Advisers Trust owned 0.25% of Diodes as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership bought a new stake in shares of Diodes during the 3rd quarter valued at about $37,519,000. Victory Capital Management Inc. lifted its stake in shares of Diodes by 901.2% in 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. lifted its stake in shares of Diodes by 183.0% in the 3rd quarter. Invesco Ltd. now owns 519,013 shares of the semiconductor company's stock worth $27,617,000 after purchasing an additional 335,644 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Diodes by 132.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 402,105 shares of the semiconductor company's stock worth $21,267,000 after purchasing an additional 228,976 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of Diodes by 671.4% in the third quarter. Lazard Asset Management LLC now owns 220,951 shares of the semiconductor company's stock worth $11,757,000 after buying an additional 192,309 shares during the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.

Diodes Stock Down 4.2%

NASDAQ DIOD opened at $92.29 on Tuesday. Diodes Incorporated has a 52 week low of $42.28 and a 52 week high of $125.99. 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 company has a market capitalization of $4.24 billion, a P/E ratio of 50.16 and a beta of 1.88. The stock's 50-day moving average price is $105.44 and its 200-day moving average price is $81.35.

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

Analysts Set New Price Targets

DIOD has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Diodes from $98.00 to $139.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Zacks Research downgraded shares of Diodes from a "strong-buy" rating to a "hold" rating in a research 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 issued a Hold rating to the company. Based on data from MarketBeat.com, Diodes currently has a consensus rating of "Moderate Buy" and an average price target of $113.00.

Insider Buying and Selling at Diodes

In other news, CFO Brett R. Whitmire sold 16,556 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $103.34, for a total transaction of $1,710,897.04. Following the sale, the chief financial officer directly owned 44,632 shares in the company, valued at $4,612,270.88. This trade represents a 27.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Francis Tang sold 15,330 shares of Diodes 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 transaction, the chief technology officer owned 71,438 shares in the company, valued at approximately $8,003,913.52. This trade represents a 17.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 70,981 shares of company stock valued at $7,616,906. 1.70% of the stock is currently owned by company insiders.

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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