Pacer Advisors Inc. acquired a new position in shares of Diodes Incorporated (NASDAQ:DIOD) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 14,098 shares of the semiconductor company’s stock, valued at approximately $513,000.
Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its position in Diodes by 87.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,036,506 shares of the semiconductor company’s stock valued at $37,698,000 after acquiring an additional 484,712 shares in the last quarter. Prudential Financial Inc. grew its position in Diodes by 88.9% in the 2nd quarter. Prudential Financial Inc. now owns 745,541 shares of the semiconductor company’s stock valued at $27,116,000 after acquiring an additional 350,907 shares in the last quarter. Marshall Wace LLP acquired a new position in Diodes in the 1st quarter valued at about $8,821,000. LSV Asset Management grew its position in Diodes by 10.8% in the 2nd quarter. LSV Asset Management now owns 1,664,300 shares of the semiconductor company’s stock valued at $60,530,000 after acquiring an additional 162,838 shares in the last quarter. Finally, Tygh Capital Management Inc. acquired a new position in Diodes in the 2nd quarter valued at about $3,210,000. 80.62% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on DIOD. Zacks Investment Research raised Diodes from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research report on Wednesday, August 7th. ValuEngine cut Diodes from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Wells Fargo & Co started coverage on Diodes in a research note on Monday, August 19th. They issued an “outperform” rating and a $55.00 price objective for the company. Finally, BidaskClub upgraded Diodes from a “hold” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Diodes has an average rating of “Buy” and an average price target of $49.00.
Shares of DIOD traded down $0.27 during midday trading on Monday, hitting $40.39. The company had a trading volume of 4,137 shares, compared to its average volume of 419,105. The company’s 50-day simple moving average is $38.79 and its 200-day simple moving average is $36.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.94 and a current ratio of 2.75. The firm has a market capitalization of $2.08 billion, a P/E ratio of 16.97 and a beta of 1.29. Diodes Incorporated has a 1 year low of $27.38 and a 1 year high of $44.27.
Diodes (NASDAQ:DIOD) last announced its quarterly earnings data on Monday, August 5th. The semiconductor company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The business had revenue of $322.00 million during the quarter, compared to analysts’ expectations of $320.20 million. Diodes had a return on equity of 14.32% and a net margin of 10.19%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 EPS. Equities analysts predict that Diodes Incorporated will post 2.85 earnings per share for the current fiscal year.
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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