Fifth Third Bancorp Decreases Stake in Diodes Incorporated (NASDAQ:DIOD)

Fifth Third Bancorp decreased its position in shares of Diodes Incorporated (NASDAQ:DIOD - Free Report) by 29.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,756 shares of the semiconductor company's stock after selling 4,970 shares during the period. Fifth Third Bancorp's holdings in Diodes were worth $725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its holdings in shares of Diodes by 19.6% during the third quarter. FMR LLC now owns 5,785,134 shares of the semiconductor company's stock valued at $370,769,000 after buying an additional 947,118 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Diodes by 130.9% in the third quarter. Victory Capital Management Inc. now owns 1,744,135 shares of the semiconductor company's stock worth $111,782,000 after acquiring an additional 988,671 shares during the period. Geode Capital Management LLC lifted its holdings in Diodes by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,266,052 shares of the semiconductor company's stock valued at $81,154,000 after acquiring an additional 43,841 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Diodes by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 626,106 shares of the semiconductor company's stock worth $40,127,000 after purchasing an additional 31,089 shares during the last quarter. Finally, Tributary Capital Management LLC grew its stake in shares of Diodes by 9.5% during the 3rd quarter. Tributary Capital Management LLC now owns 291,037 shares of the semiconductor company's stock valued at $18,653,000 after purchasing an additional 25,259 shares during the period. 99.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DIOD has been the topic of several recent research reports. Truist Financial decreased their price target on shares of Diodes from $69.00 to $62.00 and set a "hold" rating on the stock in a research report on Friday, November 8th. StockNews.com upgraded shares of Diodes from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Benchmark reduced their target price on shares of Diodes from $83.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $72.80.

Diodes Stock Performance

NASDAQ DIOD traded up $0.98 on Thursday, hitting $58.38. 89,776 shares of the company's stock traded hands, compared to its average volume of 425,810. The company has a current ratio of 3.58, a quick ratio of 2.21 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average price is $62.53 and its two-hundred day moving average price is $64.50. Diodes Incorporated has a 1-year low of $52.71 and a 1-year high of $86.74. The firm has a market capitalization of $2.70 billion, a PE ratio of 44.27 and a beta of 1.32.

Diodes (NASDAQ:DIOD - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.04. The firm had revenue of $350.08 million for the quarter, compared to the consensus estimate of $346.30 million. Diodes had a net margin of 4.72% and a return on equity of 3.90%. During the same period in the prior year, the firm posted $1.13 earnings per share. As a group, analysts expect that Diodes Incorporated will post 1.35 EPS for the current year.

Diodes Company Profile

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.