First Trust Advisors LP Has $4.48 Million Holdings in Diodes Incorporated $DIOD

Key Points

• First Trust Advisors increased its Diodes position by 56% in the first quarter, bringing its holdings to 65,577 shares worth approximately $4.48 million. Institutional investors and hedge funds collectively own 99.23% of the company.
• Analysts maintain a generally positive outlook, with three Buy ratings and two Holds producing a consensus “Moderate Buy” rating and a $113 price target. Truist Financial raised its target to $139, while Robert W. Baird set a $120 target.
• Diodes exceeded quarterly expectations, reporting $0.43 in earnings per share and $405.47 million in revenue, with revenue up 22.1% year over year. However, insiders sold 70,981 shares worth about $7.62 million over the past 90 days.

First Trust Advisors LP raised its position in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 56.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,577 shares of the semiconductor company's stock after purchasing an additional 23,532 shares during the period. First Trust Advisors LP owned 0.14% of Diodes worth $4,476,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors increased its holdings in Diodes by 3.1% in the fourth quarter. Captrust Financial Advisors now owns 4,882 shares of the semiconductor company's stock worth $241,000 after buying an additional 145 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Diodes by 2.3% during the fourth quarter. Verdence Capital Advisors LLC now owns 8,430 shares of the semiconductor company's stock valued at $416,000 after acquiring an additional 186 shares in the last quarter. Strs Ohio lifted its stake in Diodes by 2.2% in the fourth quarter. Strs Ohio now owns 9,100 shares of the semiconductor company's stock valued at $449,000 after acquiring an additional 200 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Diodes by 51.4% in the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company's stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Diodes by 77.4% in the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 205 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on DIOD shares. Weiss Ratings restated a "hold (c)" rating on shares of Diodes in a report on Wednesday, July 15th. Truist Financial increased their price objective on Diodes from $98.00 to $139.00 and gave the company a "buy" rating in a report on Friday, May 8th. Zacks Research lowered 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 objective on Diodes in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Diodes has a consensus rating of "Moderate Buy" and a consensus price target of $113.00.

Diodes Trading Up 7.6%

Diodes stock opened at $88.29 on Wednesday. The business has a 50 day moving average price of $100.20 and a two-hundred day moving average price of $85.33. 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 has a market cap of $4.06 billion, a price-to-earnings ratio of 47.98 and a beta of 1.91. Diodes Incorporated has a 12 month low of $42.28 and a 12 month high of $125.99.

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 for the quarter, topping the consensus estimate of $0.35 by $0.08. The company had revenue of $405.47 million for the quarter, compared to analyst estimates of $396.33 million. Diodes had a return on equity of 3.48% and a net margin of 5.50%.Diodes's revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. As a group, equities analysts forecast that Diodes Incorporated will post 2.58 EPS for the current year.

Insider Transactions at Diodes

In other news, CFO Brett R. Whitmire sold 16,556 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 44,632 shares of the company's stock, valued at approximately $4,612,270.88. This trade represents a 27.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Emily Yang sold 3,000 shares of Diodes stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total transaction of $330,240.00. Following the sale, the senior vice president owned 61,878 shares in the company, valued at approximately $6,811,530.24. This trade represents a 4.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 70,981 shares of company stock valued at $7,616,906 over the last 90 days. Corporate insiders own 1.70% of the company's stock.

About Diodes

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.

Want to see what other hedge funds are holding DIOD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Diodes Incorporated (NASDAQ:DIOD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source