Rhumbline Advisers Cuts Holdings in Diodes Incorporated (DIOD)
Rhumbline Advisers cut its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,387 shares of the semiconductor company’s stock after selling 439 shares during the period. Rhumbline Advisers owned 0.16% of Diodes worth $1,860,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of DIOD. State of Alaska Department of Revenue lifted its position in Diodes by 79.1% during the second quarter. State of Alaska Department of Revenue now owns 7,542 shares of the semiconductor company’s stock worth $181,000 after acquiring an additional 3,332 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Diodes by 10.1% during the first quarter. Public Employees Retirement System of Ohio now owns 8,745 shares of the semiconductor company’s stock worth $210,000 after acquiring an additional 800 shares during the last quarter. Mason Street Advisors LLC lifted its position in Diodes by 5.7% during the first quarter. Mason Street Advisors LLC now owns 8,923 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 481 shares during the last quarter. Airain ltd acquired a new stake in Diodes during the first quarter worth approximately $247,000. Finally, Stevens Capital Management LP acquired a new stake in Diodes during the first quarter worth approximately $292,000. Hedge funds and other institutional investors own 73.94% of the company’s stock.
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In other news, major shareholder Semiconductor Corp Lite-On sold 116,209 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $26.95, for a total transaction of $3,131,832.55. Following the completion of the transaction, the insider now directly owns 8,045,778 shares of the company’s stock, valued at approximately $216,833,717.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Francis Tang sold 11,957 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $28.33, for a total transaction of $338,741.81. Following the transaction, the vice president now directly owns 71,429 shares of the company’s stock, valued at $2,023,583.57. The disclosure for this sale can be found here. Insiders have sold a total of 310,508 shares of company stock valued at $8,369,544 over the last three months. Insiders own 7.00% of the company’s stock.
Shares of Diodes Incorporated (NASDAQ:DIOD) opened at 28.81 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 54.56 and a beta of 1.22. The firm’s 50-day moving average is $27.05 and its 200 day moving average is $25.30. Diodes Incorporated has a 12 month low of $19.64 and a 12 month high of $28.88.
Diodes (NASDAQ:DIOD) last released its earnings results on Tuesday, August 8th. The semiconductor company reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. Diodes had a net margin of 2.68% and a return on equity of 5.64%. The firm had revenue of $264.20 million during the quarter, compared to the consensus estimate of $261.15 million. During the same period in the prior year, the firm earned $0.20 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts anticipate that Diodes Incorporated will post $1.28 EPS for the current year.
Several equities research analysts have issued reports on DIOD shares. Zacks Investment Research upgraded shares of Diodes from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Friday, August 11th. BidaskClub upgraded shares of Diodes from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Cleveland Research downgraded shares of Diodes from a “buy” rating to a “neutral” rating in a research report on Thursday, July 20th. Finally, Robert W. Baird restated an “outperform” rating and set a $30.00 price objective on shares of Diodes in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Diodes presently has a consensus rating of “Hold” and a consensus target price of $30.00.
Diodes Incorporated is a manufacturer and supplier of application-specific standard products within the discrete, logic, analog and mixed-signal semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. The Company’s products include diodes; rectifiers; transistors; metal-oxide semiconductor field-effect transistors (MOSFETs); protection devices; amplifiers and comparators; Hall-effect and temperature sensors, and power management devices, including light emitting diode (LED) drivers, alternating current (AC)-direct current (DC) and DC-DC switching, linear voltage regulators and voltage references, along with special function devices, such as universal serial bus (USB) power switches, load switches, voltage supervisors and motor controllers.
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