Diodes Incorporated $DIOD Shares Sold by Royal Bank of Canada

Royal Bank of Canada decreased its holdings in Diodes Incorporated (NASDAQ:DIOD) by 4.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,138 shares of the semiconductor company’s stock after selling 17,721 shares during the quarter. Royal Bank of Canada’s holdings in Diodes were worth $24,582,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Diodes by 77.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 470 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 205 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Diodes in the second quarter worth about $30,000. Farther Finance Advisors LLC boosted its holdings in Diodes by 51.4% in the fourth quarter. Farther Finance Advisors LLC now owns 589 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 200 shares in the last quarter. Quarry LP purchased a new stake in shares of Diodes during the third quarter worth about $39,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Diodes during the fourth quarter valued at about $40,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on DIOD. Robert W. Baird set a $120.00 price objective on shares of Diodes in a research report on Friday, May 8th. Zacks Research cut shares of Diodes from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Diodes in a report on Wednesday, July 15th. Finally, Truist Financial raised their target price on Diodes from $98.00 to $139.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.00.

Insider Activity at Diodes

In other Diodes news, insider Jin Zhao sold 3,689 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $106.86, for a total transaction of $394,206.54. Following the completion of the transaction, the insider directly owned 43,531 shares in the company, valued at approximately $4,651,722.66. This represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary Yu sold 3,632 shares of Diodes stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $110.08, for a total transaction of $399,810.56. Following the completion of the sale, the chief executive officer owned 108,147 shares in the company, valued at approximately $11,904,821.76. This trade represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 70,981 shares of company stock valued at $7,616,906 in the last ninety days. 1.70% of the stock is currently owned by company insiders.

Diodes Stock Performance

NASDAQ DIOD opened at $88.29 on Wednesday. The firm has a market capitalization of $4.06 billion, a P/E ratio of 47.98 and a beta of 1.91. The stock has a 50-day simple moving average of $100.20 and a two-hundred day simple moving average of $85.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.97 and a current ratio of 3.17. Diodes Incorporated has a fifty-two week low of $42.28 and a fifty-two week high of $125.99.

Diodes (NASDAQ:DIOD) last released its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.35 by $0.08. The business had revenue of $405.47 million for the quarter, compared to analyst estimates of $396.33 million. Diodes had a return on equity of 3.48% and a net margin of 5.50%.The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 EPS. On average, equities analysts forecast that Diodes Incorporated will post 2.58 earnings per share for the current year.

Diodes Profile

Diodes Incorporated (NASDAQ: DIOD) is a global manufacturer and supplier of high‐performance discrete, logic, analog and mixed‐signal semiconductor products. Headquartered in Plano, Texas, the company designs and develops a broad range of discrete components, standard logic functions, power management circuits, interface products and array products. Its portfolio includes rectifiers, MOSFETs, general‐purpose diodes, voltage regulators, comparators, buffers and other building blocks for electronic systems.

Diodes Incorporated serves a variety of end markets such as automotive, computing, communications, consumer electronics, industrial and lighting.