Diodes Incorporated (NASDAQ:DIOD) Stock Position Increased by Channing Capital Management LLC

Channing Capital Management LLC increased its position in shares of Diodes Incorporated (NASDAQ:DIOD) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,009,445 shares of the semiconductor company’s stock after purchasing an additional 166,934 shares during the period. Diodes accounts for approximately 2.4% of Channing Capital Management LLC’s portfolio, making the stock its 5th largest position. Channing Capital Management LLC owned 2.20% of Diodes worth $81,281,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC grew its holdings in Diodes by 3.1% in the third quarter. Commonwealth Equity Services LLC now owns 6,040 shares of the semiconductor company’s stock valued at $476,000 after purchasing an additional 180 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Diodes by 5.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,892 shares of the semiconductor company’s stock valued at $228,000 after acquiring an additional 148 shares in the last quarter. Strs Ohio lifted its holdings in shares of Diodes by 7.4% during the 3rd quarter. Strs Ohio now owns 16,000 shares of the semiconductor company’s stock valued at $1,261,000 after buying an additional 1,100 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new stake in Diodes in the 3rd quarter worth approximately $292,000. Finally, Park Avenue Securities LLC acquired a new stake in Diodes in the 3rd quarter valued at approximately $425,000. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Diodes Price Performance

Shares of DIOD traded down $0.13 during trading hours on Friday, reaching $72.79. The stock had a trading volume of 211,308 shares, compared to its average volume of 313,988. The company’s 50-day moving average is $69.17 and its two-hundred day moving average is $70.44. Diodes Incorporated has a 12 month low of $60.00 and a 12 month high of $97.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.03 and a current ratio of 3.02. The stock has a market capitalization of $3.36 billion, a PE ratio of 14.82 and a beta of 1.44.

Diodes (NASDAQ:DIOD) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.47 by $0.04. Diodes had a net margin of 13.67% and a return on equity of 12.79%. The company had revenue of $322.70 million during the quarter, compared to the consensus estimate of $324.76 million. During the same period in the previous year, the firm posted $1.73 earnings per share. The firm’s revenue for the quarter was down 35.0% on a year-over-year basis. Research analysts expect that Diodes Incorporated will post 2.55 EPS for the current year.

Insider Buying and Selling

In related news, CFO Brett R. Whitmire sold 3,400 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $67.30, for a total value of $228,820.00. Following the completion of the transaction, the chief financial officer now directly owns 48,265 shares in the company, valued at approximately $3,248,234.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Keh Shew Lu sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $68.98, for a total transaction of $413,880.00. Following the transaction, the chief executive officer now directly owns 274,492 shares in the company, valued at approximately $18,934,458.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett R. Whitmire sold 3,400 shares of Diodes stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $67.30, for a total value of $228,820.00. Following the sale, the chief financial officer now directly owns 48,265 shares of the company’s stock, valued at $3,248,234.50. The disclosure for this sale can be found here. Insiders have sold a total of 25,900 shares of company stock worth $1,774,570 in the last 90 days. 2.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TD Cowen lifted their target price on shares of Diodes from $72.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Truist Financial lowered their price objective on Diodes from $78.00 to $67.00 and set a “hold” rating for the company in a research report on Wednesday, February 7th. Finally, Wells Fargo & Company reduced their price target on Diodes from $80.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $72.40.

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.