Inspire Investing LLC Trims Stock Position in Diodes Incorporated (NASDAQ:DIOD)

Inspire Investing LLC decreased its holdings in Diodes Incorporated (NASDAQ:DIOD) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,818 shares of the semiconductor company’s stock after selling 300 shares during the quarter. Inspire Investing LLC’s holdings in Diodes were worth $347,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DIOD. GAMMA Investing LLC raised its position in Diodes by 66.5% in the second quarter. GAMMA Investing LLC now owns 453 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 181 shares during the period. SummerHaven Investment Management LLC raised its holdings in Diodes by 2.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,101 shares of the semiconductor company’s stock worth $583,000 after purchasing an additional 210 shares during the period. O Shaughnessy Asset Management LLC lifted its position in Diodes by 5.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 4,245 shares of the semiconductor company’s stock valued at $299,000 after purchasing an additional 224 shares in the last quarter. Arizona State Retirement System grew its holdings in Diodes by 1.9% during the second quarter. Arizona State Retirement System now owns 12,861 shares of the semiconductor company’s stock valued at $925,000 after purchasing an additional 236 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its position in Diodes by 2.5% in the second quarter. Azzad Asset Management Inc. ADV now owns 10,115 shares of the semiconductor company’s stock worth $728,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Wall Street Analysts Forecast Growth

DIOD has been the topic of a number of analyst reports. Truist Financial cut their price objective on Diodes from $74.00 to $69.00 and set a “hold” rating for the company in a research note on Friday, August 9th. StockNews.com lowered shares of Diodes from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.20.

Diodes Trading Up 1.3 %

Shares of DIOD opened at $60.12 on Wednesday. The firm has a market cap of $2.77 billion, a P/E ratio of 16.38 and a beta of 1.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.38 and a quick ratio of 2.10. Diodes Incorporated has a 1 year low of $58.62 and a 1 year high of $86.74. The company has a 50 day simple moving average of $67.87 and a two-hundred day simple moving average of $70.51.

Diodes (NASDAQ:DIOD) last announced its quarterly earnings results on Thursday, August 8th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Diodes had a net margin of 7.12% and a return on equity of 5.76%. The company had revenue of $319.80 million for the quarter, compared to the consensus estimate of $316.12 million. During the same period in the previous year, the firm posted $1.59 EPS. Diodes’s revenue for the quarter was down 31.5% compared to the same quarter last year. On average, equities analysts expect that Diodes Incorporated will post 1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Diodes news, CFO Brett R. Whitmire sold 1,900 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $69.99, for a total transaction of $132,981.00. Following the completion of the transaction, the chief financial officer now owns 46,365 shares in the company, valued at approximately $3,245,086.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Emily Yang sold 1,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $70.48, for a total value of $70,480.00. Following the completion of the transaction, the senior vice president now owns 59,820 shares of the company’s stock, valued at approximately $4,216,113.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brett R. Whitmire sold 1,900 shares of Diodes stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $69.99, for a total value of $132,981.00. Following the completion of the transaction, the chief financial officer now owns 46,365 shares of the company’s stock, valued at approximately $3,245,086.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,182 shares of company stock worth $1,640,921. Corporate insiders own 2.30% of the company’s stock.

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.