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Diodes Incorporated (NASDAQ:DIOD) Shares Sold by Wedge Capital Management L L P NC

Diodes logo with Computer and Technology background

Wedge Capital Management L L P NC trimmed its position in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 37.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,355 shares of the semiconductor company's stock after selling 25,195 shares during the period. Wedge Capital Management L L P NC owned about 0.09% of Diodes worth $1,785,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Diodes by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,910,766 shares of the semiconductor company's stock worth $364,517,000 after buying an additional 102,263 shares during the period. FMR LLC increased its stake in Diodes by 2.0% in the fourth quarter. FMR LLC now owns 5,902,006 shares of the semiconductor company's stock valued at $363,977,000 after purchasing an additional 116,872 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Diodes by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,238,567 shares of the semiconductor company's stock valued at $138,053,000 after purchasing an additional 168,545 shares during the last quarter. Earnest Partners LLC increased its stake in Diodes by 0.4% in the fourth quarter. Earnest Partners LLC now owns 2,119,097 shares of the semiconductor company's stock valued at $130,685,000 after purchasing an additional 7,552 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Diodes by 9.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,907,509 shares of the semiconductor company's stock valued at $117,636,000 after purchasing an additional 163,374 shares during the last quarter. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Diodes Stock Performance

Shares of DIOD stock traded down $1.81 during trading hours on Friday, hitting $49.15. The stock had a trading volume of 400,082 shares, compared to its average volume of 437,830. The firm has a market capitalization of $2.28 billion, a PE ratio of 51.74 and a beta of 1.42. Diodes Incorporated has a twelve month low of $32.93 and a twelve month high of $86.74. The stock's 50 day moving average is $42.65 and its 200 day moving average is $51.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.26 and a quick ratio of 1.99.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The business had revenue of $332.11 million during the quarter, compared to the consensus estimate of $323.28 million. Diodes had a return on equity of 3.28% and a net margin of 3.36%. The company's revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 earnings per share. As a group, research analysts forecast that Diodes Incorporated will post 1.82 earnings per share for the current fiscal year.

Diodes announced that its Board of Directors has authorized a stock buyback program on Thursday, May 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Benchmark increased their price target on shares of Diodes from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Friday. Robert W. Baird upgraded shares of Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Monday, April 7th. Finally, Baird R W upgraded shares of Diodes from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Diodes presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

View Our Latest Analysis on DIOD

About Diodes

(Free Report)

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.

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Institutional Ownership by Quarter for Diodes (NASDAQ:DIOD)

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