Hodges Capital Management Inc. Cuts Stake in Diodes Incorporated (NASDAQ:DIOD)

Hodges Capital Management Inc. decreased its holdings in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 55.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,862 shares of the semiconductor company's stock after selling 92,064 shares during the period. Hodges Capital Management Inc. owned approximately 0.16% of Diodes worth $4,617,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Diodes by 34.8% during the third quarter. JPMorgan Chase & Co. now owns 226,742 shares of the semiconductor company's stock worth $14,532,000 after buying an additional 58,597 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Diodes by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 626,106 shares of the semiconductor company's stock valued at $40,127,000 after purchasing an additional 31,089 shares during the period. Geode Capital Management LLC increased its position in Diodes by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,266,052 shares of the semiconductor company's stock worth $81,154,000 after purchasing an additional 43,841 shares during the last quarter. Tributary Capital Management LLC raised its stake in Diodes by 9.5% during the third quarter. Tributary Capital Management LLC now owns 291,037 shares of the semiconductor company's stock worth $18,653,000 after purchasing an additional 25,259 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in Diodes in the 2nd quarter valued at about $647,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

Diodes Trading Down 2.6 %

NASDAQ:DIOD traded down $1.54 on Thursday, reaching $57.02. 335,933 shares of the company's stock were exchanged, compared to its average volume of 426,351. The business has a fifty day moving average of $61.83 and a 200-day moving average of $63.58. The company has a quick ratio of 2.21, a current ratio of 3.58 and a debt-to-equity ratio of 0.01. Diodes Incorporated has a 52-week low of $52.71 and a 52-week high of $86.74. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 43.20 and a beta of 1.31.

Diodes (NASDAQ:DIOD - Get Free Report) last issued 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 company had revenue of $350.08 million during 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 quarter in the previous year, the firm earned $1.13 earnings per share. As a group, analysts expect that Diodes Incorporated will post 1.35 earnings per share for the current year.

Insider Activity

In other Diodes news, SVP Emily Yang sold 950 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total transaction of $53,238.00. Following the transaction, the senior vice president now owns 65,107 shares in the company, valued at approximately $3,648,596.28. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brett R. Whitmire sold 830 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.04, for a total value of $46,513.20. Following the sale, the chief financial officer now directly owns 51,525 shares in the company, valued at $2,887,461. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,680 shares of company stock valued at $262,267. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DIOD shares. Truist Financial reduced 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. Benchmark decreased their price target on Diodes from $83.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, November 11th. Finally, StockNews.com raised Diodes from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $72.80.

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.