T. Rowe Price Investment Management Inc. Trims Holdings in Diodes Incorporated (NASDAQ:DIOD)

T. Rowe Price Investment Management Inc. lessened its stake in Diodes Incorporated (NASDAQ:DIOD - Free Report) by 52.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 580,783 shares of the semiconductor company's stock after selling 650,369 shares during the period. T. Rowe Price Investment Management Inc. owned about 1.25% of Diodes worth $35,817,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Barclays PLC increased its position in shares of Diodes by 361.1% in the 3rd quarter. Barclays PLC now owns 79,799 shares of the semiconductor company's stock worth $5,114,000 after purchasing an additional 62,492 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Diodes by 34.8% in the third quarter. JPMorgan Chase & Co. now owns 226,742 shares of the semiconductor company's stock valued at $14,532,000 after buying an additional 58,597 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Diodes during the fourth quarter valued at approximately $3,027,000. Wedge Capital Management L L P NC lifted its holdings in Diodes by 14.4% during the 4th quarter. Wedge Capital Management L L P NC now owns 66,550 shares of the semiconductor company's stock worth $4,104,000 after buying an additional 8,355 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Diodes by 36.7% in the 4th quarter. KBC Group NV now owns 1,987 shares of the semiconductor company's stock worth $123,000 after acquiring an additional 533 shares in the last quarter. Institutional investors own 99.23% of the company's stock.

Insiders Place Their Bets

In other news, President Gary Yu sold 2,900 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total value of $162,516.00. Following the completion of the sale, the president now directly owns 79,697 shares of the company's stock, valued at approximately $4,466,219.88. This represents a 3.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brett R. Whitmire sold 830 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.04, for a total transaction of $46,513.20. Following the transaction, the chief financial officer now owns 51,525 shares in the company, valued at $2,887,461. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,680 shares of company stock worth $262,267. 2.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DIOD. Robert W. Baird raised Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price target on the stock in a research report on Monday, April 7th. Benchmark reduced their price target on shares of Diodes from $74.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Truist Financial lowered their price objective on shares of Diodes from $63.00 to $53.00 and set a "hold" rating for the company in a research report on Wednesday, February 12th. Finally, Baird R W raised shares of Diodes from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Diodes currently has an average rating of "Moderate Buy" and an average price target of $56.00.

Diodes Stock Up 0.8 %

Diodes stock opened at $38.53 on Friday. The firm has a market capitalization of $1.79 billion, a P/E ratio of 40.56 and a beta of 1.43. The company has a 50-day simple moving average of $43.68 and a 200-day simple moving average of $55.02. Diodes Incorporated has a one year low of $32.93 and a one year high of $86.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.99 and a current ratio of 3.26.

Diodes (NASDAQ:DIOD - Get Free Report) last posted its earnings results on Tuesday, February 11th. The semiconductor company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.27). Diodes had a return on equity of 3.28% and a net margin of 3.36%. As a group, equities analysts expect that Diodes Incorporated will post 1.82 earnings per share for the current year.

About Diodes

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.

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