Diodes Incorporated (NASDAQ:DIOD) Shares Sold by Balyasny Asset Management LLC
Balyasny Asset Management LLC cut its position in Diodes Incorporated (NASDAQ:DIOD) by 73.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,139 shares of the semiconductor company’s stock after selling 19,510 shares during the quarter. Balyasny Asset Management LLC’s holdings in Diodes were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DIOD. Vanguard Group Inc. lifted its holdings in Diodes by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,709,014 shares of the semiconductor company’s stock worth $238,747,000 after buying an additional 11,835 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Diodes by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 1,897,069 shares of the semiconductor company’s stock valued at $77,087,000 after purchasing an additional 281,869 shares during the last quarter. State Street Corp grew its stake in Diodes by 3.1% during the 1st quarter. State Street Corp now owns 1,496,664 shares of the semiconductor company’s stock valued at $60,817,000 after purchasing an additional 44,482 shares in the last quarter. Geode Capital Management LLC grew its stake in Diodes by 6.1% during the 1st quarter. Geode Capital Management LLC now owns 676,197 shares of the semiconductor company’s stock valued at $27,477,000 after purchasing an additional 38,810 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Diodes by 87.0% during the 1st quarter. Nuveen Asset Management LLC now owns 584,446 shares of the semiconductor company’s stock worth $23,748,000 after purchasing an additional 271,855 shares during the last quarter. 78.34% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Diodes from a “hold” rating to a “sell” rating in a research report on Monday, August 10th. Loop Capital began coverage on Diodes in a report on Tuesday, May 26th. They set a “buy” rating and a $56.00 target price on the stock. BidaskClub downgraded Diodes from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Finally, Cowen lifted their price objective on shares of Diodes from $57.00 to $61.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $54.67.
DIOD opened at $49.58 on Wednesday. The stock’s 50 day moving average price is $50.43 and its 200 day moving average price is $47.32. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.46 and a quick ratio of 2.68. The stock has a market cap of $2.57 billion, a P/E ratio of 20.57 and a beta of 1.18. Diodes Incorporated has a 12 month low of $31.51 and a 12 month high of $59.70.
Diodes (NASDAQ:DIOD) last issued its quarterly earnings data on Thursday, August 6th. The semiconductor company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $288.70 million for the quarter, compared to analysts’ expectations of $283.92 million. Diodes had a net margin of 10.59% and a return on equity of 11.14%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 earnings per share. Equities analysts anticipate that Diodes Incorporated will post 2.1 EPS for the current year.
Diodes Company Profile
Diodes Incorporated, together with its subsidiaries, designs, manufactures, and supplies application-specific standard products in the discrete, logic, and analog and mixed-signal semiconductor markets in Asia, North America, and Europe. It primarily focuses on low pin count semiconductor devices with one or more active or passive components.
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