William Blair Investment Management LLC Sells 49,700 Shares of Diodes Incorporated $DIOD

Key Points

• William Blair Investment Management cut its Diodes stake by 9.5% in the fourth quarter, selling 49,700 shares but still holding 472,125 shares worth about $23.3 million.
• Diodes has seen broader institutional interest, with Vanguard, Invesco, JPMorgan and others adding to positions; overall, about 99.23% of the stock is owned by institutions.
• Analysts remain bullish on Diodes, with a consensus Buy rating and an average price target of $113, while the company also beat earnings and revenue estimates in its latest quarterly report.

William Blair Investment Management LLC reduced its stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 9.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 472,125 shares of the semiconductor company's stock after selling 49,700 shares during the period. William Blair Investment Management LLC owned approximately 1.02% of Diodes worth $23,295,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Diodes by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 6,154,859 shares of the semiconductor company's stock valued at $303,681,000 after buying an additional 166,603 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Diodes in the third quarter valued at approximately $37,519,000. Invesco Ltd. boosted its stake in shares of Diodes by 183.0% in the third quarter. Invesco Ltd. now owns 519,013 shares of the semiconductor company's stock valued at $27,617,000 after buying an additional 335,644 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Diodes by 49.6% in the third quarter. JPMorgan Chase & Co. now owns 464,429 shares of the semiconductor company's stock valued at $24,712,000 after buying an additional 153,905 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Diodes by 14.5% during the fourth quarter. Bessemer Group Inc. now owns 419,648 shares of the semiconductor company's stock worth $20,707,000 after purchasing an additional 53,039 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Diodes from a "hold" rating to a "buy" rating in a research note on Saturday, February 14th. Zacks Research upgraded Diodes from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Truist Financial upped their target price on Diodes from $98.00 to $139.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Robert W. Baird set a $120.00 target price on Diodes in a research note on Friday, May 8th. Finally, Benchmark upped their target price on Diodes from $62.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Diodes currently has a consensus rating of "Buy" and an average target price of $113.00.

Diodes Price Performance

NASDAQ DIOD opened at $99.65 on Tuesday. The business has a fifty day moving average price of $87.79 and a two-hundred day moving average price of $67.04. 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 Incorporated has a fifty-two week low of $42.28 and a fifty-two week high of $117.80. The stock has a market capitalization of $4.58 billion, a PE ratio of 54.16 and a beta of 1.93.

Diodes (NASDAQ:DIOD - Get Free Report) last released its earnings results 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 firm had revenue of $405.47 million during the quarter, compared to analysts' expectations of $396.33 million. Diodes had a return on equity of 3.48% and a net margin of 5.50%.The company's quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. Equities analysts expect that Diodes Incorporated will post 2.58 earnings per share for the current fiscal year.

Insider Activity at Diodes

In other news, SVP Emily Yang sold 2,000 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $96.81, for a total transaction of $193,620.00. Following the completion of the transaction, the senior vice president directly owned 66,878 shares in the company, valued at approximately $6,474,459.18. This represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andy Tsong sold 2,652 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $110.00, for a total transaction of $291,720.00. Following the transaction, the senior vice president owned 49,752 shares of the company's stock, valued at $5,472,720. This trade represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 29,611 shares of company stock valued at $3,075,135. 1.70% of the stock is owned by company insiders.

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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