Cinctive Capital Management LP Takes $7.70 Million Position in Diodes Incorporated $DIOD

Cinctive Capital Management LP acquired a new position in shares of Diodes Incorporated (NASDAQ:DIOD) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 156,060 shares of the semiconductor company’s stock, valued at approximately $7,700,000. Cinctive Capital Management LP owned approximately 0.34% of Diodes as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Diodes by 49.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 464,429 shares of the semiconductor company’s stock worth $24,712,000 after acquiring an additional 153,905 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Diodes during the 4th quarter worth approximately $476,000. Bessemer Group Inc. raised its stake in shares of Diodes by 14.5% during the 4th quarter. Bessemer Group Inc. now owns 419,648 shares of the semiconductor company’s stock worth $20,707,000 after acquiring an additional 53,039 shares in the last quarter. Tributary Capital Management LLC raised its stake in shares of Diodes by 7.1% during the 4th quarter. Tributary Capital Management LLC now owns 346,023 shares of the semiconductor company’s stock worth $17,073,000 after acquiring an additional 22,903 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Diodes by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 6,154,859 shares of the semiconductor company’s stock worth $303,681,000 after acquiring an additional 166,603 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

Insider Activity

In related news, SVP Emily Yang sold 3,000 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total transaction of $330,240.00. Following the sale, the senior vice president directly owned 61,878 shares of the company’s stock, valued at approximately $6,811,530.24. This represents a 4.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gary Yu sold 3,632 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 transaction of $399,810.56. Following the sale, the chief executive officer directly owned 108,147 shares in the company, valued at $11,904,821.76. This trade represents a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 70,981 shares of company stock valued at $7,616,906 in the last three months. Corporate insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

DIOD has been the subject of several recent analyst reports. Zacks Research lowered shares of Diodes from a “strong-buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird set a $120.00 price objective on shares of Diodes in a research note on Friday, May 8th. Finally, Truist Financial boosted their price objective on shares of Diodes from $98.00 to $139.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $113.00.

Diodes Stock Down 0.7%

DIOD stock opened at $108.80 on Thursday. The firm’s fifty day simple moving average is $101.27 and its 200-day simple moving average is $74.48. The company has a market capitalization of $5.00 billion, a P/E ratio of 59.13 and a beta of 1.90. 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 12 month low of $42.28 and a 12 month high of $121.96.

Diodes (NASDAQ:DIOD) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.35 by $0.08. The business had revenue of $405.47 million for the quarter, compared to the consensus estimate of $396.33 million. Diodes had a net margin of 5.50% and a return on equity of 3.48%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. As a group, equities research analysts forecast that Diodes Incorporated will post 2.58 earnings per share for the current year.

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.