Summit Global Investments Raises Position in Diodes Incorporated $DIOD

Key Points

• Summit Global Investments increased its stake in Diodes Incorporated by 365.9% in the first quarter, ending with 19,927 shares worth about $1.36 million.
• Several analysts remain constructive on DIOD: the stock has a Moderate Buy consensus rating, with an average price target of $113, though recent ratings have been mixed.
• Diodes reported better-than-expected Q1 results, posting EPS of $0.43 versus the $0.35 estimate and revenue of $405.47 million, up 22.1% from a year earlier.

Summit Global Investments grew its stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 365.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,927 shares of the semiconductor company's stock after purchasing an additional 15,650 shares during the quarter. Summit Global Investments' holdings in Diodes were worth $1,360,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DIOD. EverSource Wealth Advisors LLC grew its holdings in Diodes by 77.4% during the second quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company's stock worth $25,000 after buying an additional 205 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Diodes during the 2nd quarter valued at $30,000. Farther Finance Advisors LLC lifted its stake in Diodes by 51.4% during the 4th 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 in the last quarter. Quarry LP purchased a new position in Diodes during the 3rd quarter worth $39,000. Finally, Kestra Advisory Services LLC purchased a new position in Diodes during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 99.23% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Diodes in a report on Wednesday, July 15th. Robert W. Baird set a $120.00 price target on shares of Diodes in a report on Friday, May 8th. Truist Financial upped their price objective on shares of Diodes from $98.00 to $139.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Zacks Research downgraded Diodes from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 15th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $113.00.

Diodes Stock Up 0.3%

DIOD opened at $87.27 on Tuesday. 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 $4.01 billion, a price-to-earnings ratio of 47.43 and a beta of 1.88. Diodes Incorporated has a twelve month low of $42.28 and a twelve month high of $125.99. The company's 50-day moving average price is $103.26 and its two-hundred day moving average price is $82.79.

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

Insiders Place Their Bets

In other Diodes news, insider Richard Dallas White sold 3,000 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $106.17, for a total value of $318,510.00. Following the completion of the sale, the insider directly owned 8,071 shares of the company's stock, valued at $856,898.07. This trade represents a 27.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Emily Yang sold 3,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $110.08, for a total value of $330,240.00. Following the transaction, the senior vice president owned 61,878 shares of the company's stock, valued at $6,811,530.24. The trade was a 4.62% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 70,981 shares of company stock valued at $7,616,906. Company 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.

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