Lazard Asset Management LLC Trims Holdings in Diodes Incorporated $DIOD

Lazard Asset Management LLC cut its stake in shares of Diodes Incorporated (NASDAQ:DIOD) by 18.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 164,673 shares of the semiconductor company’s stock after selling 37,105 shares during the period. Lazard Asset Management LLC’s holdings in Diodes were worth $11,241,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DIOD. Arrowstreet Capital Limited Partnership bought a new position in Diodes in the 3rd quarter worth about $37,519,000. Victory Capital Management Inc. raised its stake in shares of Diodes by 901.2% during the fourth quarter. Victory Capital Management Inc. now owns 509,630 shares of the semiconductor company’s stock worth $25,145,000 after acquiring an additional 458,727 shares in the last quarter. Invesco Ltd. raised its position in Diodes by 183.0% in the 3rd quarter. Invesco Ltd. now owns 519,013 shares of the semiconductor company’s stock worth $27,617,000 after purchasing an additional 335,644 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Diodes by 132.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 402,105 shares of the semiconductor company’s stock valued at $21,267,000 after acquiring an additional 228,976 shares during the last quarter. Finally, Emerald Advisers LLC bought a new stake in Diodes in the first quarter valued at approximately $12,359,000. Institutional investors own 99.23% of the company’s stock.

Insider Activity

In other news, SVP Emily Yang sold 3,000 shares of the firm’s stock in a transaction dated 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 owned 61,878 shares of the company’s stock, valued at $6,811,530.24. This trade represents a 4.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Andy Tsong sold 1,582 shares of Diodes stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $106.95, for a total transaction of $169,194.90. Following the completion of the sale, the senior vice president directly owned 48,170 shares of the company’s stock, valued at approximately $5,151,781.50. This trade represents a 3.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 70,981 shares of company stock valued at $7,616,906. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on DIOD shares. Robert W. Baird set a $120.00 price objective on shares of Diodes in a research note on Friday, May 8th. Truist Financial boosted their price objective on shares of Diodes from $98.00 to $139.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Diodes in a report on Wednesday, July 15th. Finally, Zacks Research cut shares of Diodes from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.00.

Diodes Stock Down 5.2%

Shares of NASDAQ:DIOD opened at $76.09 on Thursday. The firm has a market capitalization of $3.50 billion, a P/E ratio of 41.35 and a beta of 1.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 3.17. The stock has a 50 day moving average price of $101.58 and a 200-day moving average price of $84.52. Diodes Incorporated has a 52-week low of $42.28 and a 52-week high of $125.99.

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

Diodes Company Profile

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.